Concern over healthcare bills is the primary financial issue for many U.S. voters heading to the polls this November — regardless of partisanship, according to a new study from the nonprofit KFF.
The KFF Health Tracking Poll, which surveyed 1,309 U.S. adults from January 30 to February 7, found that nearly three-fourths of respondents are worried, in particular, over unexpected medical bills (74% of those surveyed) and healthcare service costs (73%). This is more than those who said they are concerned over everyday costs such as gas, utility, food or housing prices, the study shows.
The cost of prescription drugs and monthly health insurance premiums were also big worries for 55% and 48% of respondents, respectively.
Sign up for Kiplinger’s Free E-Newsletters
Profit and prosper with the best of expert advice on investing, taxes, retirement, personal finance and more - straight to your e-mail.
Profit and prosper with the best of expert advice - straight to your e-mail.
Nearly half (48%) of respondents indicated that healthcare costs are "a major reason for their negative views of the economy," the study shows. Overall, two thirds (67%) of voters view the economy negatively, with Republican voters more than twice as likely as Democratic voters to hold such negative views.
The numbers vary slightly between people who are and are not easily able to afford their bills this month, the study shows, but the number remains staggering across the board.
The study comes as the election year kicks off with the race for president looking like a rematch between President Joe Biden and former President Donald Trump.
Obamacare remains popular
The study also found that now, several years after the Trump administration attempted to repeal the Affordable Care Act (ACA) — also known as Obamacare — the law remains popular. Half of Americans, including almost a quarter of Republicans (23%) would like to see ACA expanded under the next president's term.
Another 16% would like the ACA to remain as it is, while about 14% are for scaling back the law and 18% would like to see it repealed, the study shows.
"While President Trump has talked about wanting to replace the ACA during his campaign, just 1 in 6 voters (16%) say that he has a plan to do so," according to the study. "Even among Republican voters, just 3 in 10 say that President Trump has a plan to replace the ACA."
Most respondents (67%), including most Republicans (54%), said it is "very important" to keep the law's provision that prohibits insurers from denying coverage for pre-existing conditions.
However, only 39% were aware that that provision is part of the law. In fact, despite that ACA enrollment hit a record high this year with 21.3 million people signing up for a marketplace, its impact is still not well-known by the public, the study shows.
Other healthcare studies
The KFF study follows a survey late last year by The Commonwealth Fund (CWF) showing that high healthcare costs can cause even the insured to skip care.
The CWF's Controlling Health Care Costs website provides a range of articles and information on healthcare and medical debt issues. These include a policy primer on Medicare Advantage private health insurance plans that explains the ins and outs of signing up for these plans including details on how they differ from traditional Medicare.
RELATED CONTENT
-
Virginia Tax Rebates 2025 Coming Soon? What to Know NowTax Rebates Given a historic 2025 gubernatorial race, tax policy will remain a key issue for Virginians in the months ahead.
-
What to Know Before Flying With Your PetFrom documentation and TSA screening to carrier rules and airport relief areas, here’s what to know before taking your pet on a flight.
-
What to Know Before Flying With Your Pet
From documentation and TSA screening to carrier rules and airport relief areas, here’s what to know before taking your pet on a flight.
-
Want To Retire at 60? See if You Can Answer These Five QuestionsForget waiting for Social Security and Medicare to kick in. You may be able to retire sooner than you think.
-
Trump Tariffs and Taxes: Waiting to See What Happens Is Not a StrategyLike presidents, tariffs come and go. Policy changes also shift about every two years with the election cycle. If you're paralyzed by uncertainty, you could be missing opportunities to benefit your financial future.
-
Is a Family Office Right for You? The Multimillion-Dollar QuestionAs ultra-high-net-worth individuals increase in number, many are turning to family offices to manage their complex finances. Here's how family offices work, courtesy of a finance professional.
-
This Is How a Lot of Law School Students Are CheatingGrowing numbers of students are falsely claiming a learning disability to score more time to take tests. This has real-world consequences in which fellow students, law firms and their clients pay the price.
-
The Hidden Cost That's Ruining Vacation Home DreamsAre rising HOA fees derailing your second home dreams? Annual dues, insurance premiums and taxes are rising, boosting total ownership costs. Here's what you can do.
-
If You're Ignoring Private Markets, You're Missing Most of the ActionPrivate markets are becoming increasingly essential for all investors, not just institutions, and they are now more easily accessible thanks to innovative investment structures.
-
Three Ways Women Can Keep Caregiving From Draining Them FinanciallyMany women care for older relatives. While commendable, it could put their retirement at risk … unless they find a way to prioritize themselves.
