The reports and the anec­do­tal sto­ries of bank­rupt­cy are pil­ing up.  Some are blam­ing the Afford­able Care Act, some the insur­ance car­ri­ers, some sim­ply the high cost of med­ical care and of course the employ­ers for cut­ting back on the lev­el of cov­er­age they pro­vide (when they are not cut­ting back the amount they allow for pre­mi­um pay­ments).  In a new report titled “The US Health­care Cost Cri­sis,” which sur­veyed more than 3,500 adults, it was esti­mat­ed that seniors have pulled an esti­mat­ed $22 bil­lion from their long-term sav­ings for health­care-relat­ed expens­es, an aver­age of $3,789.  Major find­ings from the report are:

 

10% of those 65 and old­er did not seek need­ed treat­ment in the past year due to cost

About 7 mil­lion seniors could not afford to pay for pre­scrip­tions in the last year

80% of the pre­scrip­tions that seniors can’t afford are used to treat seri­ous conditions

92% of seniors believe the cost of health­care will not improve or will get worse

45% are afraid they will have to file for bank­rupt­cy if faced with a health­care crisis