According to a survey of 1,000 Americans aged 25-45, financial stress and worries are quite literally making people sick. Respondents listed health care as the main financial worry of their lives, and three in four admitted to having a “negative experience” due to financial stress. John Anderer writes on Study Finds:
Ironically, 39% said that financial stress has had a negative impact on their health; indicating a troubling cycle of financial stress brought on by health care costs, which in turn leads to more health problems.
Additionally, 35% of respondents said financial stress has harmed their relationship with a spouse or significant other, and 26% said financial worries had harmed close friendships. Another 26% said it had affected their performance at work, and 21% said it had hurt their attendance at work.
A running theme throughout the survey’s responses was that young Americans aren’t addressing their health needs due to the cost. Many respondents reported that this strategy only allows the illness to worsen, resulting in higher medical bills by the time they make it to the doctor’s office. In fact, three in four surveyed young adults reported taking “risky” actions to save money on medical expenses. More specifically, 33% delayed seeking medical help in the hope that their condition would just go away, 27% considered avoiding medical attention due to high deductibles, and 22% scheduled a medical appointment but never showed after considering the bill.