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Over half of consumers feel stress when paying medical bills and more than 9 in 10 say these payments have impacted their mental and physical health, according to a study from PayMedix. Higher deductible health plans and confusing or unaffordable medical bills are causing Americans to experience increased physical and mental health issues.
The survey polled over 1,000 Americans with employer-paid health insurance and over 200 HR benefit managers. Here are some key survey findings:
The current state of healthcare billing also exacerbates health equity issues for underprivileged populations. Despite having insurance, individuals in these communities struggle to access financial credit, compounding affordability challenges. Consequently, more Americans are avoiding care or disengaging from the healthcare system.
The high cost of health care is impacting Americans' health, causing stress and confusion. Workers now seek employers who offer financial strategies for managing health insurance. Download the bulletin for more details.