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The healthcare system is broken. Everyone knows this. But the issue is, how exactly do you fix it? Because for the majority of people, healthcare is now becoming unaffordable, going to the doctor’s office, calling for an ambulance is all essential for those needing medical help, but now becoming out of reach for everyday people struggling with rising healthcare costs.
Currently, it’s estimated that there is $220 billion in medical debt owed by Americans. This is a staggering amount, and medical debt is one of the leading reasons people file for bankruptcy across the country.
And this concern for being able to afford healthcare doesn’t just show up when there’s an emergency. It’s in the small ways you live your life.
Let’s take a look.
Debt You Can’t Pay
This is a major one. Medical debt sticks like glue. It’s not something you can plan for or even save for in some cases, even with the best insurance coverage.
All it takes is one ER visit, one accident, or unexpected illness, and suddenly you’re hundreds of thousands in debt, and as much as you chip away at it, it just doesn’t disappear. And it impacts everything. You can have the best credit score, pay all of your bills on time, but that ignores medical debt? A black mark on your credit file impacts your life moving forward.
Illnesses You Can’t Treat
This is a heartbreaking reality for many people. The cost of medical care has become so expensive in some areas that there’s simply no way for some people to get the care they need unless free resources can be accessed.
It’s living with hearing loss because you cannot afford a hearing aid. It’s removing your own teeth because dental care is unaffordable. It’s living with pain because you cannot afford the prescription refills.
And when your health suffers, your quality of life suffers, and this impacts all corners of your life, not in a good way.
Suddenly, you find that you have done it again and again, you’ve made the decision to put health on the back burner, and you’re suffering each and every day.
While there are foundations like Judah Spinner’s healthcare reform initiative that aim to help those who need it, it isn’t a quick or easy fix, but the effects of ongoing support like this will filter through and are a great start to addressing the issue.
The Job You Can’t Leave
This is an important one. Rising healthcare costs force people to stay in jobs they cannot leave to take advantage of healthcare coverage. For large swathes of people, purchasing comparative insurance privately is too expensive, meaning they have to remain working jobs they don’t like or want to be doing simply to be able to afford health care.e
And while this might not seem like a bad thing, it can have a knock-on effect on people’s lives. It means employers can abuse this and apply more pressure to employees, people have a reduced quality of life as their employment is negatively impacting their lives and mental health, and their career progression is stunted, as is their earning potential simply due to needing coverage.
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