Tags: Costs | Young | Adults | Healthcare

High Costs Force Young Adults to Ditch Healthcare Treatments

Monday, 11 Jun 2012 06:56 AM

Millions of young adults are concluding that treatment for medical conditions is just too expensive, a study finds.

According to a Commonwealth Fund survey, 41 percent of young adults between age 19 and 29 failed to get medical care in a recent 12-month period because it was too expensive, CNNMoney reports.

Among uninsured adults, the number climbs to 60 percent.

Editor's Note: This Wasn’t an Accident — Experts Testify on Financial Meltdown

Treatments skipped included filling prescriptions, undergoing recommended tests and paying visits to the doctor.

"This reflects the high cost of medical care right now and health plans that may not cover people very well," says Dr. Sara Collins, vice president for affordable health insurance at the Commonwealth Fund and chief author of the survey, CNNMoney adds.

Doctors say they're noticing that their orders are falling on deaf ears when it comes to younger patients, namely because they cannot afford it.

"There's no question that young people have cut back on high-value screenings, doctor visits and therapies," says Dr. Mark Fendrick, director of the University of Michigan Center for Value-Based Insurance Design.

Everyone, meanwhile, can expect healthcare costs to keep rising.

The cost of healthcare services is expected to rise 7.5 percent in 2013, far outpacing inflation and economic growth rates, a PricewaterhouseCoopers study finds, according to Reuters.

Reuters surveys peg the U.S. gross domestic product rate expanding 2.4 percent in 2013 and inflation rising by 2.0 percent.

Premiums for large employer-sponsored health plans could increase by only 5.5 percent as business pass the cost of rising healthcare costs on to employees.

Healthcare costs are rising at slower pace thanks to new plans with higher deductibles as well.

"We're in the early beginnings of a shift toward consumerism in healthcare. And we think that you'll see more of that in the coming months and years," says Ceci Connolly, managing director of the PricewaterhouseCoopers Health Research Institute.

Editor's Note: This Wasn’t an Accident — Experts Testify on Financial Meltdown



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