Surprise Medical Expenses Are a Significant Source of Financial Stress for Middle Class Consumers
Elevate Credit, Inc. (ELVT)
Last elevate credit, inc. earnings: 2/10 04:16 pm
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Source: Business Wire
Over half have delayed seeking medical treatment because of high costs FORT WORTH, Texas--(BUSINESS WIRE)--Surprise medical expenses prove to be a hardship for all Americans no matter their credit score, according to a study released today by Elevate's Center for the New Middle Class (CNMC). The research found that eight in ten non-prime consumers (those with credit scores under 700), and six in ten prime consumers have experienced some level of financial hardship due to medical bills in the last five years.These new findings revealed that 54% of non-prime and 42% of prime consumers have delayed seeking medical treatment due to fear of high costs. Additionally, lack of insurance was not a contributing factor to medical expense-related bills, as a majority of those surveyed have health insurance."After visiting the emergency room, recovery should be the focus; financial recovery should not," said Jonathan Walker, Executive Director of the CNMC. "Our research finds non-prime consumer
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