Paying for health care is now Americans’ top financial worry, KFF poll finds

Health care costs have skyrocketed to the top of Americans’ financial worries, surpassing concerns about groceries, utilities, and housing expenses. This shift in priorities comes after Congress failed to extend Affordable Care Act subsidies, leading to premium spikes for millions of Americans. According to a recent survey conducted by the health policy research firm KFF, two-thirds of Americans are very or somewhat worried about affording health care, with one-third describing themselves as very worried about paying for medical expenses.

The rising costs of health care, including health insurance, out-of-pocket expenses, and prescription drug costs, are outpacing other categories of expenses for a significant portion of the population. More than half of U.S. adults reported an increase in their health care costs over the past year, further exacerbating financial concerns for many households.

As affordability becomes a leading concern for voters, the Trump administration is proposing measures to address rising costs, such as capping credit card interest rates and tackling housing expenses. However, the KFF survey revealed that health care remains the top financial worry for Americans, overshadowing other concerns like food costs, housing expenses, utilities, and transportation costs.

In addition to health care, Americans expressed worries about paying for other essentials, such as food, housing, utilities, and transportation. The survey also highlighted widespread disapproval of Congress allowing the ACA’s enhanced subsidies to expire, with two-thirds of respondents believing Congress made the wrong decision.

KFF’s research indicates that some Americans are considering forgoing health insurance altogether due to the high cost of plans without subsidies. Alternatively, others are opting for cheaper plans with less coverage or seeking employment opportunities that offer health insurance coverage.

Overall, the survey underscores the significant impact of health care costs on Americans’ financial well-being and the urgent need for solutions to address affordability issues in the healthcare system. As households grapple with rising expenses and limited income growth, finding ways to make health care more accessible and affordable remains a top priority for many Americans.