It’s the top issue for both major parties, even as the nation settles into the new presidency
As President Donald Trump passes 100 days in office, the nation is still worried about what he’ll do and won’t do — just not as much as when he was elected.
The latest Marketplace-Edison Research Poll says that in October, the Economic Anxiety Index was at 36. Now it’s at 32, 11 percentage points lower.
While Americans are divided on issues like how the government should be run and defense spending, many on both sides of the aisle are concerned about health care.
“Healthcare is the top concern for both Democrats and Republicans,” the report says. “Healthcare worries Americans as a national economic issue more than any other issue, including jobs and unemployment, prices, taxes, immigration, the budget deficit, or trade.”
Three-in-four Americans worry they won’t be able to afford the health care they or their families need, and 82 percent of Americans worry about health care.
Long-time worry — no clear answers
While health savings accounts are hitting record highs and Americans are more interested than ever in taking control of their health, the truth is, health care is a concern regardless of who can afford HSAs.
Thanks to the Affordable Care Act, the number of uninsured Americans has hit an all-time low, despite red states having more uninsured people than blue states. Even with the implementation of Obamacare, Americans admit that health insurance is still costly. After paying for a roof over our heads, clothes on our back, and food in our stomachs, some of us may not be left with much money to pay for other things, making health insurance a luxury rather than a necessity. Despite knowing we need medical help when we’re sick, many Americans may still avoid it because of how expensive it is.
The good news is that the healthier you are, the better off you are financially. But we’re not all in the clear. In terms of long-term care, women are facing some difficult futures: because they earn less over the course of their careers, they save less. But they are also living longer than their male peers, so their long-term health care problems last longer and cost more.
Overall, long-term care is among the most expensive costs we’ll pay later in life. If you can afford it, move to a state where the cost isn’t as high. Sadly, that’s not a viable solution for most of us.
Because Americans are earning less and therefore saving less, there is a very real possibility that we will outlive our savings. Many older Americans fear that they will run out of money before they run out of life. No matter what your age is reading this, don’t fret. It’s never too late to start saving, even if you believe you’re too old. However, the younger you are, the more of an advantage you have. Stash your cash away in an IRA, or match your employer’s 401(k) contribution, cut your obsessive spending habits wherever you can and make sure you’re putting money away that you won’t touch until you’re of retirement age.
Article last modified on May 11, 2017. Published by Debt.com, LLC .