More than half of consumers feel stressed when paying their medical bills, and more than 9 in 10 say these payments have impacted their physical and mental health, according to a study from health care payment processing company PayMedix. Unaffordable medical bills, higher deductible health plans and confusing bills have increased physical and mental health issues for many insured Americans.
The 2023 PayMedix study polled more than 1,000 Americans with employer-provided health insurance and over 200 HR benefits managers. Consider the additional key findings from the 2023 survey:
Billing complexities are adding to the health equity crisis in the country. Many underprivileged populations still struggle to access financial credit—even when insured. Furthermore, these affordability challenges are causing many Americans to avoid care or disengage with the health care system altogether.
The high cost of health care is taking a toll on the health of Americans, with health care billing and payment worries physically making Americans sick. While health care is a crucial benefit, it’s causing widespread stress and confusion. Today’s workers seek employers that provide financial strategies to manage their health insurance.
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Article Published By: Zywave, Inc.