More than a third of Americans could face hefty bills if they are diagnosed with a serious condition, a new study finds.
More than two-thirds of Americans in their 20s, 30s and 40s will face significant financial problems if they develop a serious health condition, the Insurance Information Institute (II) said Wednesday.
The II, a nonprofit research organization based in Washington, D.C., analyzed data from the Federal Trade Commission (FTC) and the Department of Labor to see how much consumers would have to pay if they developed a serious medical condition, such as a stroke or heart attack, and then died within the next two years.
The average consumer is facing about $11,000 in medical costs when they die, the II found.
The report said the average annual cost of medical expenses for a typical consumer is $20,000.
The average annual income for a family of four would be $1.5 million.
While Americans who die before age 65 will be among the hardest hit, there are a few things you can do to keep from being hit with a huge bill.
The I-Team has been collecting data on health care costs since 2008, when the Affordable Care Act was passed.
The data was analyzed using the most recent figures available for 2016.
The health insurance market is expected to expand again in 2021.
For some Americans, a more affordable plan may be a better deal.
The Insurance Information Group says most people who have to shop for insurance could save more than $1,000 on their next policy renewal.
The Affordable Care Care Act allows consumers to buy health insurance across state lines.
That means, in theory, people who live in California, Florida or Nevada can buy insurance across the country, and vice versa.
However, it’s not a permanent fix.
While the law makes sure Americans can get insurance if they get sick, it also requires insurance companies to offer policies across state borders, which could lead to higher premiums for consumers.
The Insurance Information and Analytics Council of California, which represents the insurance industry, said last year that more than half of the states’ insurance markets have no plan for the new exchanges.
For those who do buy plans across state boundaries, they will pay higher premiums.
The insurance industry wants the exchanges to be able to offer plans across the border.
It said the exchanges could also offer coverage that would cost less in the individual market than a policy offered on the individual exchanges.
If the insurance companies do not have plans to offer on the exchange, then consumers will have to buy policies on their own.
This could leave many consumers without coverage, which will hurt the economy.
The government has estimated that there are more than 7 million people who would have died as a result of the ACA’s coverage expansion.
The number could go up.
The Congressional Budget Office estimates the number of people with health coverage would be up to about 20 million by 2026, the CBO said in its September report.
The CBO also said that the cost of health insurance could rise because people will not be able afford it.
“The more coverage we have, the more costs will be incurred,” said the CBO’s Ryan Lucas, a senior vice president.
“So the longer people have to wait for the marketplace to open, the worse off we will all be.”