Households hold back on healthcare spending
More evidence of the economy's effect on healthcare spending emerged in recent weeks to paint a grim picture for access to medical care during a downturn. Now federal health officials have released an analysis that underscores the close link between employment and the wherewithal to get needed treatment or prescriptions.
A Centers for Disease Control and Prevention survey found half the unemployed were uninsured compared with one-fifth of those in the workforce in 2009—the year the recession officially ended—and the following year.
Not only were the unemployed more likely to be uninsured, but they were also more likely to report serious psychological distress and fair-to-poor health, the CDC's National Center for Health Statistics reported.
Unsurprisingly, the unemployed also reported more difficulty paying for needed medical care and prescriptions. Among the unemployed and uninsured, 41.2% said they put off or did not seek care because of cost. Here's a look at responses for those who were unable to afford prescriptions:
Households that have delayed seeking medical care, especially elective care, have contributed to a marked slowdown in U.S. healthcare spending and, notably, hospital revenue growth.
U.S. healthcare spending grew just 3.9% in 2010 after an increase of 3.8% the prior year, the CMS said in mid-January, which rank as the first- and second-most sluggish growth rates in the 51 years federal officials began to track spending. “Although medical goods and services are generally viewed as necessities, the latest recession had a dramatic affect on their utilization,”CMS officials said.
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