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man with hands over face Americans have borrowed a whopping $88 billion in the last year to pay for health care, while 65 million adults have skipped getting health care for an issue in the past 12 months because of what it would cost. (Photo: iStock)

The cost of American health care is a crisis, says a new report, and Americans fear its effects not just on them but also on the economy as a whole.

“The U.S. Healthcare Cost Crisis,” from West Health and Gallup, finds that nearly half of Americans—45 percent—fear ending up in bankruptcy thanks to a major health event. And even more are afraid of what health care costs could do to the economy, with 71 percent saying they fear escalating costs will cause “significant and lasting damage.”

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Marlene Satter

Marlene Y. Satter has worked in and written about the financial industry for decades.

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