Recent data shows that nearly half of Americans are facing challenges in paying for quality health care and medication, indicating a concerning trend in the accessibility of healthcare services.
The Healthcare Affordability Index, which examines Americans’ ability to afford medical care and prescriptions, has dropped by six points since 2022, reaching a record low of 55 percent since its inception in 2021.
The decline in affordability disproportionately affects two age groups: individuals aged 50–64 and those 65 and older, with both groups experiencing an eight-point decrease in affordability. However, adults under 50 are the most impacted, with 53 percent struggling to cover their healthcare expenses.
Produced by West Health and Gallup, the Healthcare Affordability Index highlights the concerning trend of decreasing healthcare affordability in the U.S. According to West Health president, Timothy Lash, recent health care provisions like empowering Medicare to negotiate lower drug prices could help address these challenges and provide stability.
The survey, which involved 5,149 US adults, categorized participants based on their ability to access and pay for medical care and prescriptions. The findings revealed that 45 percent of American adults fall into the categories of cost insecure or desperate.
Younger adults are more likely to be in the cost-desperate category compared to older adults, and disparities exist among different demographic groups, with Black and Hispanic adults as well as women being more likely to face healthcare cost challenges.
Assessing the Value of U.S. Healthcare
Although healthcare affordability appears to be declining, public satisfaction with the quality of care relative to cost has slightly increased, according to the Healthcare Value Index by West Health and Gallup. However, there is still room for improvement, with 36 percent of respondents believing that they are being overcharged for healthcare services.
The findings of the study echo those of the West Health–Gallup Survey on Aging in America, revealing that a significant number of Americans have avoided seeking healthcare due to cost concerns.
Commenting on the study, Gallup senior researcher Dan Witters expressed concerns about the decline in healthcare affordability and its impact on Americans’ financial well-being. The rapid shift from financial security in covering medical costs to struggling to pay bills underscores the challenges within the current healthcare system.