According to a survey commissioned through Paytient Technologies, two in five Americans are putting off their health care desires due to concerns about charges.
A new study confirms that many Americans have to pay for even basic physical care, and spending on savings has many negative consequences, in addition to increased health problems.
In a report released Wednesday through Paytient Technologies Inc. , a provider of physical care payments, 40% of respondents admitted to delaying physical care because of cost. The main types of delayed care in this subset were:
Regular Visits/Checkups
32%
Follow-up visits for a symptom/condition
30%
Tests (blood, biopsies, etc. )
28%
Imaging (x-rays, mammograms, etc. )
27%
Specialized References
27%
Regular remedy for chronic diseases or cure.
24%
Prescription Drugs
23%
Emergency Visits/Urgent Care
23%
Ambulatory surgeries
20%
Hospital surgeries
9%
Medical (wheelchairs, asthma pumps, etc. )
5%
Delays in those preventive measures, and sometimes in direct care, add more disruption and costs down the road. Of the 40% of other people who fell behind in care due to cost, 23% reported having new symptoms or conditions, and 38% reported that their physical condition had deteriorated. In addition, 19% used second-hand work hours to pay for their physical care, and 31% felt compelled to lie to their boss about their activities while dealing with the consequences of delayed medical care.
Concerns about investing in physical care are already weighing on many Americans’ retirement hopes. More than a portion (59%) of respondents in an independent annual survey conducted through Nationwide lack confidence in their ability to afford physical care prices as they age. According to the Insured Retirement Institute’s Retirement Health Care Cost Survey, 57% are concerned about their ability to pay for their spouse’s care or their spouse, released in October 2023.
Reduction of work
Paytient, in its survey, tested the effect of attention delays on the workforce, revealing that one in six respondents is directly affected by physical situations they are unable to treat. Of this group, 69% admitted to being distracted by pain in the paintings and 31% experienced panic attacks in the paintings.
Meanwhile, paying for insurance that could offset physical care costs is complicated in and of itself, according to the findings. The study found that 69 million Americans insured through his office missed their deductibles last year. Nearly a portion of those with insurance (45 percent) missed their bachelor policy deductibles in 2023, an average of $1,482.
Some employees have even moved their feet to find better physical care options: 17% of Americans insured through them have made the decision to leave their jobs in search of better physical care.
Help Wanted
The need for health care occurs when employers place a greater emphasis on overall monetary well-being, which includes covering health care costs.
“The effects of this study shine a light on the invisible lack of trust of American policyholders, as health insurance alone no longer promises access to care,” Brian Whorley, founder and CEO of Paytient, said in a statement. “The national debate on physical care provides an opportunity for employers to cost-effectively ensure that workers have the security and certainty that they will access and pay for care when they want it. “
The study looked at a varied pattern of Americans hired with respect to gender, ethnicity/race, region, occupation, income source level, seniority level, family type, and physical condition. Respondents had above-average sources of income, with one in five earning more than $100,000 per year and 46% in managerial or high-level positions. A quantitative pattern collected in January 2024, with a total of 1516 survey responses.
The studies conducted through Nonfiction Research LLC and commissioned through Paytient, a generation company that provides financial and care solutions to more than 25 million Americans.