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The numbers are in, and they're even worse than we thought.
Americans borrowed $74 billion—that's billion with a B—last year just to pay for healthcare. Let that sink in for a moment. We're not talking about luxury items or vacations. We're talking about medical care that people need to survive.
And here's the kicker: even people with insurance are drowning in medical debt.
The recent West Health Gallup survey revealed that 12% of Americans with insurance—31 million people—had to borrow money for healthcare last year. Over half borrowed $500 or more, and 14% borrowed a staggering $5,000 or more.
This isn't just a problem for the poor or uninsured. It's a system-wide failure affecting Americans across all income brackets, including those with Medicare. The fear of medical debt has become as American as apple pie.
We're Paying More and Dying Sooner
Here's where the story gets even more disturbing. Despite spending more per person on healthcare than any other developed nation, Americans have the shortest lifespans among comparable countries.
In 2023, the average American lived to be 78.4 years old—4.1 years less than the average in other developed nations. That's not a small gap; it's a chasm. Four years of birthdays, anniversaries, and time with loved ones, gone.
We're throwing mountains of cash at our healthcare system, but we're not getting healthier. We're not living longer. What we're doing is lining the pockets of ... continue reading article
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