A new JG Wentworth survey has found that unexpected medical bills could cause serious financial hardship for many Americans.
Researchers found that medical emergencies are pushing families beyond their financial limits, with $4,354 identified as the average financial breaking point.
About 3.4% of respondents said they do not have health insurance, and many reported that a medical bill of just $600 could create significant financial hardship.
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Among those with insurance, nearly 95% said a medical emergency could still leave them in debt.
Many respondents said that debt could take years to pay off, and some reported worsening health because they could not afford doctor visits or prescription medications.
The survey also found that 92% of insured respondents had delayed or avoided medical care because of cost. Younger adults were even more likely to postpone treatment despite having coverage.
Among insured respondents, 94.2% of those ages 18 to 28 and 93.7% of those ages 29 to 44 said they had delayed medical care because of the expense.
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Researchers warn that delaying treatment can allow health conditions to worsen when patients skip appointments, postpone care, or do not follow prescribed treatment plans.
Among respondents with long-term health conditions, nearly one in three said their condition worsened because they could not afford their medication, while 31.5% admitted skipping doses due to cost.
