The Burden of Medical Debt for Americans is Rising — Here’s the Solution
The healthcare industry is failing its primary stakeholders: patients. There’s a medical debt crisis plaguing the industry, severely impacting people’s financial situations and, even worse, halting people from receiving the care they need, when they need it. Then, when patients’ symptoms worsen, it often becomes more expensive to treat and manage their care. It’s a vicious and unsustainable cycle that we need to break.
A mounting problem
Results from the new Gravie and Wakefield Research study confirm that consumers are concerned about the high costs impacting their access to healthcare as well as increasing medical debt. These rising concerns are actually delaying half of consumers from getting the exams, treatment, or procedures they need, particularly due to the high cost of insurance over the last year, with some consumers canceling appointments and treatments altogether.
Struggling to afford quality health benefits and avoiding care even when it’s needed is, unfortunately, all too common. A Kaiser Family Foundation analysis estimated that nearly one in 10 adults – or roughly 23 million people – owe medical debt, including 11 million people who owe more than $2,000 and three million people who owe more than $10,000. Even when consumers can pay their medical bills, results from our study show that 91% of consumers have experienced an obstacle related to payment.
While many within the healthcare industry have acknowledged this is a problem, we’re here to offer a solution—one that puts the consumer first.
Access to quality, affordable healthcare
At Gravie, we believe no one should have to avoid getting the care they need because of administrative barriers and financial burdens from their health plans, or be saddled with a mountain of debt when they do receive care.
Comfort™ is a health plan that makes healthcare more affordable, with nearly all common health services covered at 100%. Members don’t pay deductibles or copays for in-network visits, and generic prescriptions have no cost.
When rare out-of-pocket costs do arise, Comfort members have a clear out-of-pocket maximum to eliminate any surprises. Additionally, if members are facing troubling out-of-pocket costs, they have access to Gravie Pay™ – an interest-free, ‘buy now, pay later’ option that members can use to pay for any medical bill subject to their out-of-pocket responsibility, whether planned or unexpected. Gravie Pay allows consumers to still prioritize their health and receive adequate care when they need it, while also maintaining their financial status and freedom.
Both Gravie solutions – Comfort and Gravie Pay – break down the barriers that currently exist within the healthcare system that prevent consumers from seeking out and receiving care. Together, these solutions offer quality healthcare and peace of mind to consumers, who should always come first.
Interested in learning more? Let’s connect.