Did you know that about 1 in 4 Americans with health insurance still struggle to pay their medical bills? That’s more than 40 million people! Many people have insurance that doesn’t cover enough of their healthcare costs. Let’s explore why this matters and what you can do about it.
Think of insurance like an umbrella. A good umbrella keeps you completely dry in the rain. But if your umbrella is too small, you still get wet. That’s what it’s like when you don’t have enough insurance – you have some protection, but not enough to keep you fully covered when medical bills come. Studies show that nearly half of all adults delay or skip medical care because they’re worried about the cost, even when they have insurance.
When your insurance doesn’t cover enough, medical bills can quickly add up. In fact, about 2 out of every 3 people who file for bankruptcy say medical bills were the main reason. Even a short hospital stay could cost thousands of dollars. You might have to pay a lot of money before your insurance starts helping (this is called a deductible). Each doctor visit and medicine refill adds up, and unexpected hospital visits could leave you with huge bills to pay.
Not having enough insurance doesn’t just hurt your wallet – it can make you less healthy too. When people worry about medical costs, they often wait too long to see a doctor. They might skip regular check-ups or not take all the medicine they need. This can make small health problems turn into big ones. Many people also feel stressed and worried about getting sick, which isn’t good for their health either.
Some people need to pay extra attention to their insurance coverage. This includes people who work for themselves, part-time workers, people in jobs that don’t offer good insurance, young adults just starting their careers, and people who chose the cheapest insurance plan without reading the details.
The rising cost of health care in the United States makes it hard for many families to get good insurance coverage. Recent studies show health care costs going up faster than what most people earn. Insurance premiums have grown by 22% in the last five years, while wages only went up by 8%. The burden of these expenses hits middle-income families especially hard. Many individuals find themselves paying more than $4,000 per year just for basic coverage, not counting extra costs when they need treatment. During the pandemic, this problem got even worse, with more people having trouble paying for care.
Your job and how much money you make play a big part in whether you have enough insurance. A recent survey found that part-time workers and those who work for small businesses often struggle the most. Even when employers offer insurance, their share of the premiums might be too high for workers to afford. The problem is worse for those who are self-employed, as they have to pay the full cost themselves. Analysis shows that about 60% of uninsured adults say they can’t get coverage through their job. Government assistance programs and subsidies through the Affordable Care Act try to help, but many still fall into coverage gaps.
Different groups of people face different challenges in getting good insurance. Age matters a lot – young adults often have lower incomes but don’t qualify for as much help. Hispanic populations show higher rates of being underinsured, with some regions having rates 50% above the national average. Where you live makes a difference too. Some states have better programs and resources than others. The level of coverage can change depending on whether your state expanded Medicaid. Evidence shows that states with expansion have better coverage rates and fewer people with medical debt.
Personal situations can lead to insurance problems that numbers alone don’t show. Someone with a chronic health condition might find their type of treatment isn’t covered well. Families with children often need more services but can’t afford the higher premiums for better plans. Unexpected health issues or accidents can quickly use up someone’s savings, even with insurance. A recent study found that 43% of insured patients had trouble paying medical bills after getting care they thought was covered. The risk of being underinsured goes up when people face unforeseen health care costs or lose their job.
The trend of underinsurance continues to grow across the U.S., with data showing more people carrying insurance that doesn’t protect them enough. This issue affects everything from how often people see doctors to whether they can afford their medicine. The authors of several major healthcare studies warn that without fixing these problems, more Americans will face hard choices between their health and their financial security. The utilization of healthcare services drops when people are underinsured, which means they often wait until small health problems become big ones.
The consequences of underinsurance create a cycle that’s hard to break. People with inadequate coverage often skip preventive care, leading to worse health outcomes and higher costs later. The liability they face from medical expenses can affect everything from their ability to save money to their credit score. While efforts to increase access to affordable health insurance continue through various programs and policies, barriers still exist that keep many Americans from getting the coverage they need.
Here are the most important things to check in your insurance plan:
You don’t have to figure this out alone! There are free experts who can help you find good insurance:
The Health Insurance Marketplace (HealthCare.gov) is a government website where you can:
You can also get local help from Cover Kansas. Their experts know all about the Marketplace and can help you find the best plan.
Don’t wait until you’re sick to get better insurance. About 80% of people who use HealthCare.gov qualify for savings, with many paying less than $10 per month for coverage. Take action now:
Remember: Good health insurance isn’t just about having a card in your wallet – it’s about having real protection when you need it most. Both HealthCare.gov and Cover Kansas offer free help in many languages, and their experts can walk you through every step of getting better coverage.
Make the call today. Your health and financial security are worth it!