Concerns Over Rising Health Care Costs Among Americans
Financial influencer Taylor Price joined ‘Varney & Co.’ recently to discuss how shifting mindsets can help people grow wealth and pursue the American Dream.
Americans are increasingly worried about escalating health care costs, particularly health insurance premiums. A Gallup poll published last week highlighted this issue, revealing that among 16 policy areas, health care topped the list of domestic concerns. Approximately 61% of respondents expressed significant worries regarding access and affordability.
This emphasis on health care signals a renewed urgency about the situation, a sentiment not widely echoed since 2020, although its prominence dates back to 2015. While health care and the economy were nearly equal concerns in 2020, health care now holds a 10-point advantage.
Similar results were seen in a recent Fox News survey, where 81% of voters indicated they are “very” or “extremely” concerned about health care. Inflation and high prices were the only issues receiving higher concern, at 86%.
Enrollment in Obamacare Expected to Decline
Polling data further reveals that health care remains a pressing issue worldwide. In fact, 89% of Democrats, 80% of independents, and 72% of Republicans reported being “very” or extremely concerned about health care.
This worry spans age groups as well. Among younger respondents under 45, 77% expressed significant concerns, while 83% of those over 45 felt the same. Furthermore, 86% of respondents aged 65 and older shared these apprehensions.
Rising Costs of Obamacare Explained
U.S. consumers have been facing increases in health insurance premiums in recent times, with significant hikes noted this year. The Affordable Care Act, commonly referred to as Obamacare, offers subsidies to low-income and some middle-income families. During the pandemic, Congress enhanced these subsidies, but the expiration of such supplemental support at the end of last year led to rising costs.
Tax Benefits Related to HSAs Announced
An analysis from the Kaiser Family Foundation indicated that the withdrawal of enhanced premium tax credits could cause annual out-of-pocket premium costs to soar beyond $1,000 in 2026, jumping from $888 in 2025 to about $1,904.
Additionally, health insurance companies have been increasing premiums on non-Obamacare plans as well, which many experts attribute to higher overall medical expenses.
Data from the Centers for Medicare and Medicaid Services (CMS) showed that consumers opted for more economical health insurance plans during the 2026 open enrollment period compared to the previous year. In 2025, 56% of enrollees chose silver plans, while only 30% selected bronze plans. However, in 2026, the numbers shifted, with 40% enrolling in bronze plans and 43% in silver plans, alongside an increase in those choosing gold tier plans from 13% in 2025 to 17% this year.
