Park Community Credit Union - Food, Shelter or Healthcare?

Far too many Americans have to choose among the basics: food, shelter and healthcare. For many, it’s healthcare that loses.

A new Bankrate study found that, over the past year, one-in-four American families have decided not to seek medical attention when they needed it because of the cost.

Older millennials, ages 27-36, were the most likely to say this (32%).

“It’s very concerning that people are foregoing medical attention because of the expense,” said Robin Saks Frankel, credit card analyst at Bankrate.com.  “Thirteen percent of respondents don’t have any health insurance at all – a risk that could cost them.  Unexpected medical bills can lead to a huge financial burden that could take years to pay off should something go wrong.”

Affordable healthcare for everyone is something the U.S. government has been working to establish for some time now, but Americans are discouraged.

More than half of Americans (56%) are worried that they might not have affordable health insurance in the future.  Generation X, ages 37-52, are most concerned (64%), followed by Baby Boomers (58%), Millennials (56%) and the Silent Generation (35%).

As the politicians argue about how to fix the healthcare system it would do them well to consider the top-line result of this survey. A quarter of all Americans is a lot of people.

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