High healthcare costs are causing many Americans to skip necessary
medical care, with significant economic and personal consequences. European
systems, despite their flaws, offer more affordable options.
America, the land of the free and the home of the brave, also happens
to be the land where people avoid going to the doctor because it’s simply too
expensive.
That’s right, folks—millions of Americans are skipping necessary
healthcare due to the outrageous costs. This isn’t just about avoiding the odd
check-up; it’s about real people with real health issues opting to stay sick
because they can’t afford the cure. All this comes from the U.S. Federal
Reserve’s latest Economic Well-Being of U.S. Households report, which
you can download here.
We just covered the
soaring cost of a burger and it seems as if life ain’t so great in the old
US of A.
The 11th annual Survey of Household Economics and Decisionmaking (SHED) offers insight into the financial well-being of U.S. adults & their families & provides important information about how people are faring in the economy: (1/4) https://t.co/w77PEADgmo https://t.co/rHT05oeVxn
— Federal Reserve (@federalreserve) May 21, 2024
Let’s break it down. Healthcare in the US is so costly that it’s
practically a luxury. According to the Federal Reserve report, a staggering number of
Americans avoid medical treatment because they can’t afford it. We’re not
talking about cosmetic procedures or elective surgeries here; we’re talking
about essential healthcare—things like medication for chronic illnesses,
necessary surgeries, and even basic preventive care.
Insurance? Yeah, that’s a joke for many. Even those with insurance
often face high deductibles and out-of-pocket expenses that make seeking care
financially crippling. It’s a lose-lose situation: pay up and risk financial
ruin or skip care and risk your health. It’s a choice no one should have to
make, yet it’s a daily reality for many Americans.
The EU’s (Slightly) Better Solution
Now, let’s take a jaunt across the pond to Europe. Sure, the EU isn’t
perfect when it comes to healthcare, but compared to the US, it’s practically a
utopia. European countries offer more affordable healthcare, funded through
taxes, which means that getting sick doesn’t have to come with the added stress
of a financial meltdown.
Countries like France, Germany, and Sweden have their own
problems—waiting times, bureaucratic inefficiencies, and occasionally subpar
service—but the overarching principle is that healthcare is a right, not a
privilege. Even Cyprus, with its modest resources, manages to provide its
citizens with more affordable healthcare options than the US.
The Economic Domino Effect
Skipping healthcare doesn’t just affect individuals; it has a ripple
effect on the economy. When people don’t get the care they need, they’re more
likely to miss work or perform poorly when they do show up. Chronic illnesses
go untreated, leading to more severe health issues down the line, which,
ironically, cost even more to treat. It’s a vicious cycle that puts a strain
not only on families but on the entire economic system.
Moreover, the burden on emergency services increases as people wait
until their condition is dire before seeking help. Emergency rooms are often
the last resort for those who can’t afford regular care, leading to overcrowded
facilities and exhausted healthcare workers.
The Bottom Line
The American healthcare system is in a state of crisis. High costs are
forcing people to make impossible choices, putting their health and financial
stability at risk. While the EU’s system is far from perfect, it offers a model
of more affordable, accessible care that the US could learn from. Until
significant changes are made, millions in America will continue to suffer,
and the economic consequences will be felt far and wide.
For stories of burgers, healthcare, AI and more, visit our Trending section.
High healthcare costs are causing many Americans to skip necessary
medical care, with significant economic and personal consequences. European
systems, despite their flaws, offer more affordable options.
America, the land of the free and the home of the brave, also happens
to be the land where people avoid going to the doctor because it’s simply too
expensive.
That’s right, folks—millions of Americans are skipping necessary
healthcare due to the outrageous costs. This isn’t just about avoiding the odd
check-up; it’s about real people with real health issues opting to stay sick
because they can’t afford the cure. All this comes from the U.S. Federal
Reserve’s latest Economic Well-Being of U.S. Households report, which
you can download here.
We just covered the
soaring cost of a burger and it seems as if life ain’t so great in the old
US of A.
The 11th annual Survey of Household Economics and Decisionmaking (SHED) offers insight into the financial well-being of U.S. adults & their families & provides important information about how people are faring in the economy: (1/4) https://t.co/w77PEADgmo https://t.co/rHT05oeVxn
— Federal Reserve (@federalreserve) May 21, 2024
Let’s break it down. Healthcare in the US is so costly that it’s
practically a luxury. According to the Federal Reserve report, a staggering number of
Americans avoid medical treatment because they can’t afford it. We’re not
talking about cosmetic procedures or elective surgeries here; we’re talking
about essential healthcare—things like medication for chronic illnesses,
necessary surgeries, and even basic preventive care.
Insurance? Yeah, that’s a joke for many. Even those with insurance
often face high deductibles and out-of-pocket expenses that make seeking care
financially crippling. It’s a lose-lose situation: pay up and risk financial
ruin or skip care and risk your health. It’s a choice no one should have to
make, yet it’s a daily reality for many Americans.
The EU’s (Slightly) Better Solution
Now, let’s take a jaunt across the pond to Europe. Sure, the EU isn’t
perfect when it comes to healthcare, but compared to the US, it’s practically a
utopia. European countries offer more affordable healthcare, funded through
taxes, which means that getting sick doesn’t have to come with the added stress
of a financial meltdown.
Countries like France, Germany, and Sweden have their own
problems—waiting times, bureaucratic inefficiencies, and occasionally subpar
service—but the overarching principle is that healthcare is a right, not a
privilege. Even Cyprus, with its modest resources, manages to provide its
citizens with more affordable healthcare options than the US.
The Economic Domino Effect
Skipping healthcare doesn’t just affect individuals; it has a ripple
effect on the economy. When people don’t get the care they need, they’re more
likely to miss work or perform poorly when they do show up. Chronic illnesses
go untreated, leading to more severe health issues down the line, which,
ironically, cost even more to treat. It’s a vicious cycle that puts a strain
not only on families but on the entire economic system.
Moreover, the burden on emergency services increases as people wait
until their condition is dire before seeking help. Emergency rooms are often
the last resort for those who can’t afford regular care, leading to overcrowded
facilities and exhausted healthcare workers.
The Bottom Line
The American healthcare system is in a state of crisis. High costs are
forcing people to make impossible choices, putting their health and financial
stability at risk. While the EU’s system is far from perfect, it offers a model
of more affordable, accessible care that the US could learn from. Until
significant changes are made, millions in America will continue to suffer,
and the economic consequences will be felt far and wide.
For stories of burgers, healthcare, AI and more, visit our Trending section.
