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.”

Complete your profile to continue reading and get FREE access to, part of your ALM digital membership.

Your access to unlimited content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Critical information including cutting edge post-reform success strategies, access to educational webcasts and videos, resources from industry leaders, and informative Newsletters.
  • Exclusive discounts on ALM, BenefitsPRO magazine and events.
  • Access to other award-winning ALM websites including and

Already have an account?


© 2023 ALM Global, LLC, All Rights Reserved. Request academic re-use from All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Marlene Satter

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

More from this author


Join BenefitsPRO

Don’t miss crucial news and insights you need to navigate the shifting employee benefits industry. Join now!

  • Unlimited access to - your roadmap to thriving in a disrupted environment
  • Access to other award-winning ALM websites including and
  • Exclusive discounts on and ALM events.

Already have an account? Sign In Now
Join BenefitsPRO

Copyright © 2023 ALM Global, LLC. All Rights Reserved.