Americans borrowed an estimated $88 billion last year to pay for healthcare, according to a study conducted by Gallup for West Health.
Other notable findings from the survey include 45% of American adults fear an illness might lead to bankruptcy and partisan division on the current quality of American healthcare. A large majority of Republicans see America's healthcare to be among the best worldwide (67%), while just 38 percent of Democrats agree.
"While there may be a great political divide in how highly Republicans and Democrats perceive the healthcare system at large, there is very little that separates the groups when it comes to the real-life consequences of the high cost of healthcare on their everyday lives," Tim Lash, chief strategy officer for West Health, said, according to the poll's news release.
"The time has come to take politics out of the equation and deal with the realities of the healthcare cost crisis with bipartisan and common-sense solutions that serve all Americans."
One in four Americans surveyed say they have skipped treatment due to the high cost of care.
"The impact of out-of-control healthcare costs is indisputable, although Americans' feelings about their healthcare system are complicated and at times conflicted," senior Gallup researcher Dan Witters said. "At a macro level, large numbers think healthcare in America is among the best in the world, but on an individual basis, most agree they are paying too much and getting too little in return, and they are worried not only for themselves but for the country."
Other key survey findings include:
- When given the choice between a freeze in healthcare costs for the next five years or a 10% increase in household income, 61% of Americans report their preference is a freeze in costs.
- 77% of Americans are concerned rising costs will significantly damage the U.S. economy.
- 76% expect their costs for healthcare will increase even further in the next two years.
- 15 million Americans have deferred purchasing prescription drugs in the past year due to cost.
- Nearly 3 million borrowed $10,000 or more to pay for healthcare in the past year.
- Only about one-third report that doctors discuss costs with them in advance of procedures, tests or treatment plans, or for medicine required to treat their conditions.
The Gallup poll was conducted Jan. 14 - Feb. 20 among 3,537 adults and has a margin of error of plus 1.2 percentage points.
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