When it comes to worries about high health care costs, having health insurance doesn’t necessarily spare you, according to a study recently published in JAMA.
Despite the gains in insurance coverage brought by the Affordable Care Act, high health care costs continue to plague many Americans, researchers found. Around 11 million Americans experienced “catastrophic medical expenses” in 2017, the last year the study covered — and privately insured people represented more than half of those.
“Catastrophic expenditures” is a term coined by the World Health Organization that refers to health care spending of more than 40% of a person’s income after food and housing costs.
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