Lack of Health Insurance is a Financial Concern For Many Hispanics
From September 15 to October 15, Hispanic Heritage Month celebrations create ways to celebrate the Spanish and Latin cultures with family and friends. Yet, many Latinos and Hispanics may not be able to enjoy themselves due to financial worries about medical bills. One major concern is the financial complications that can arise from not having health insurance.
According to a recent study, more than half of all personal bankruptcies in the United States across all ethnic groups are related to overwhelming medical bills. Ignoring medical bills can lead to ruined credit histories, being denied loans for cars and homes, and even legal actions that allow money being taken out of your paycheck to pay the debt.
Statistics from the Centers for Disease Control show Hispanics have the highest uninsured rates of any racial or ethnic group within the United States. While one in ten non-Hispanic whites do not carry health insurance, almost one in three Hispanics are not covered. The number of people without insurance varies among Hispanic subgroups:
- 37.6 % of Mexicans
- 20.4 % of Puerto Ricans
- 22.8 % of Cubans
- 32.3 % of other Hispanic or Latino groups
The cost of becoming ill is a danger for many families and the CDC estimates that 9% of the Hispanic and Latino population of all ages is in only fair or poor health. The agency has cited some of the leading causes of illness and death among Hispanics, which include heart disease, cancer, accidents, stroke, and diabetes. Some other health conditions and risk factors that significantly affect Hispanics are: asthma, chronic obstructive pulmonary disease, HIV/AIDS, obesity, suicide, and liver disease.
- Hispanic men and women have higher incidence and death rates for stomach and liver cancer.
- In 2005, Hispanic women were twice as likely as non-Hispanic white women to be diagnosed with cervical cancer.
- In 2005 Hispanics were 1.6 times as likely as non-Hispanic whites to die from diabetes.
- In 2006 Hispanic adults aged 65 and older were 10% less likely to have received the influenza (flu) shot in the past 12 months and 50% less likely to have ever received the pneumonia shot as compared to non-Hispanic whites of the same age group.
Uninsured persons are less likely to fill prescriptions, seek preventive or obtain necessary care due to the cost. When illness strikes, many turn to emergency rooms where the average bill begins at $1,000 before costly tests are added in. Anyone who is uninsured and visits an emergency room for care will be held responsible for paying the bill in full.
Health care is more expensive when you’re uninsured and those going without coverage face a double-whammy.
Uninsured persons are usually charged full price for medical services, because they don’t qualify for the discounts negotiated between medical providers and the insurance companies on behalf of members.
You may be healthy now, but if you are uninsured and diagnosed with a serious medical condition, you could find that you don’t qualify for coverage when you need it. The best way to preserve your ability to qualify for coverage is to maintain coverage now.
Of course, often people want to get health insurance but cannot obtain it or afford it. While new health care policies aim to make healthcare more accessible, many employers continue provide plans to their workforce. No matter what your heritage, if you are uninsured and able to obtain health insurance it is worth finding out more. If you already have it, you should think twice before dropping it as a cost-cutting measure.
