80 million victims of sickeningly high medical costs
Nearly half of working-age Americans are avoiding doctors or skipping medications because of the spiraling expense.
Here's a diagnosis of the country's health care crisis: Costs are simply out of control.
That's supported by a new study from the Commonwealth Fund Biennial Health Insurance survey, which found that an astonishing 80 million Americans -- or 43% of working-age adults -- last year skipped going to the doctor or snubbed medicine because of cost.
That represents a 27% jump since just a decade ago, when 63 million people said they went without medical care because of cost. Even worse, it's not only the uninsured who are cutting corners on their own health because of high prices, the study said.
About 28% of people with private health insurance reported avoiding treatment because of the price, an eye-opening statistic about skyrocketing rates.
"Costs of health care have gone up faster than wages," David Blumenthal, president of The Commonwealth Fund, told CNNMoney.
The study comes on the heels of a scathing article published in the journal Blood, which questioned the astronomical cost of leukemia drugs, with some pharmaceutical companies charging more than $100,000 for a year's dose. Ariad Pharmaceuticals (ARIA), for one, introduced a $138,000 annual treatment, the study said.
"We believe the unsustainable drug prices … may be causing harm to patients," the study said. "Grateful patients may have become the 'financial victims' of the treatment success, having to pay the high price annually to stay alive."
That is, if they have insurance and deep pockets that allow them to cover the costs.
Regardless of income, one-fifth of Americans ask their doctors to prescribe a lower-cost medication, the Centers for Disease Control and Prevention said in a study published earlier this month. As I wrote for MSN moneyNOW, that leads to more emergency room visits and other health crises for people unwilling or unable to pay for treatment.
Because of the high costs, medical debt is becoming a burden to U.S. consumers, the Commonwealth survey found. Last year, 41% of working-age adults had problems paying medical bills. About one in five were contacted by a collection agency over unpaid bills.
One positive aspect was noted in the report: More young adults are now covered by insurance, likely because of Obamacare, which goes into effect next year. About 41% of working-age adults between 19 to 25 went without insurance last year, down from 48% in 2010, the survey found.
Follow Aimee Picchi on Twitter at @aimeepicchi.
Politics and Healthcare have a lot in common these days. If you don't believe me pay attention the next time a designer drug add comes on. They promise the moon then give you
4. Blue vision (threw that one in for fun)
5. etc..... etc....... etc
At least someone is benefitting from obamacare...our preventative care used to be covered 100%, now it doesn't cover chest x-rays, all blood panels except for one, ekg's, etc. because the company is following the AMA guidelines. Next year it gets worse. In addition, some companies are hiring part-time instead of full-time to get around obamacare. Some companies will chose to not offer insurance because cheaper to pay the fine. The average WORKING person is worse off.
How does that work? More people have insurance because of something that goes into effect next year? Way to push an agenda MSN.
Copyright © 2014 Microsoft. All rights reserved.
Fundamental company data and historical chart data provided by Morningstar Inc. Real-time index quotes and delayed quotes supplied by Morningstar Inc. Quotes delayed by up to 15 minutes, except where indicated otherwise. Fund summary, fund performance and dividend data provided by Morningstar Inc. Analyst recommendations provided by Zacks Investment Research. StockScouter data provided by Verus Analytics. IPO data provided by Hoover's Inc. Index membership data provided by Morningstar Inc.
[BRIEFING.COM] The Dow, Nasdaq, and S&P 500 hover just north of their respective flat lines, while the Russell 2000 sports a solid gain of 0.6% after showing relative weakness yesterday.
Yesterday, the small-cap index reclaimed its 100-day (1150) and 200-day (1151) moving averages, but could not overtake the 50-day moving average (1152), which served as the session high for the index. Today, however, the Russell 2000 has climbed above that level and currently trades near the middle ... More
More Market News
An interest rate tease in The Wall Street Journal sends the market into an optimistic tizzy -- but one that doesn't end quite at the top.
MUST-SEE ON MSN
- Video: Easy DIY smoked meats at home
A charcuterie master shares his process for cold-smoking meat at home.
- Jetpacks about to go mainstream
- Weird things covered by home insurance
- Bing: 70 percent of adults report 'digital eye strain'