HealthcareCosts tend to go in one direction: up 📈 Though healthcare costs can be overwhelming, Gordondeb offers strategies to make them more manageable.
Lisa Keller thought she was done with cancer. She'd already survived a rare sarcoma at age 12 and breast cancer at age 28, so she was unprepared mentally — and financially — when she was diagnosed with breast cancer again in December of 2017 at age 44.
Earlier that year, Keller had filed for bankruptcy due to debt from a divorce. She'd recently switched jobs to join a small healthcare consulting firm that, ironically, didn't have great health insurance. What hadn't seemed important when she signed up — a $7,000 annual deductible and $10,000 out-of-pocket maximum — became all too relevant when Keller had to come up with thousands of dollars to pay for her cancer treatment.She didn't have it.
The KFF data show that 83% of employees had health insurance with a deductible in 2020 — and the average deductible was $1,644 — up 79% in the past decade. It's been hard for many Americans to absorb these cost increases because they've outpaced employee earnings. Average deductibles increased 111% from 2010 and 2020, andIn addition to increased deductibles, healthcare costs have risen as well, meaning more Americans struggle to afford their care., 18% of respondents, or 46 million people, reported that they would not be able to pay for quality health care if they needed it.
Even for people with health insurance like Keller — who had actually paid more each month to get the best health insurance option her employer offered — rising out-of-pocket healthcare costs can be crushing.
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