The 2024 Presidential Election: Healthcare as a Crucial Voter Issue

As the 2024 presidential election approaches, healthcare is emerging as a pivotal issue for voters. With rising costs and significant disparities in access and outcomes, the state of healthcare in the United States is at the forefront of many Americans’ minds. This article delves into the key healthcare issues influencing the election and examines the positions of the leading candidates, Vice President Kamala Harris and former President Donald Trump.

The Rising Cost of Healthcare

The cost of healthcare in the U.S. has reached staggering heights, with expenditures growing 4.1% in 2022 to a total of $4.5 trillion, accounting for 17.3% of the nation’s GDP. This translates to an average of $13,493 spent per person, making the U.S. the highest spender on healthcare among developed nations. Despite this investment, the country lags in overall healthcare performance, access, and health outcomes, as highlighted by the Commonwealth Fund.

Paul Shafer, an assistant professor at Boston University, emphasizes that healthcare costs are a pressing concern for Americans. As voters prepare to head to the polls, both Harris and Trump have elevated healthcare issues in their campaigns, albeit with differing approaches.

Medical Debt: A Growing Burden

Medical debt is a significant concern, with approximately 20 million Americans collectively owing around $220 billion. The Consumer Financial Protection Bureau recently announced plans to erase medical debt from credit reports, a move that could provide relief to many. Harris has committed to working with states to alleviate medical debt and prevent its accumulation, while Trump has yet to outline a specific plan to address this issue.

The impact of medical debt is profound, with many insured individuals forgoing necessary medical care due to costs. Wendell Potter, former Cigna executive, notes that high out-of-pocket costs create barriers to care, even for those with insurance.

High Out-of-Pocket Costs

In 2024, the average annual premium for single coverage is $1,368, while family coverage averages $6,296. The average deductible for single coverage stands at $1,787, with family deductibles ranging significantly. High out-of-pocket costs and insurance practices like prior authorization complicate access to care.

During his presidency, Trump signed an executive order requiring hospitals to disclose prices and insurers to provide cost estimates for non-emergency services. However, many Americans remain unaware of their rights regarding insurance coverage and billing disputes, leading to a lack of challenges against unjustified charges.

The Affordable Care Act: A Point of Contention

Trump has vowed to repeal the Affordable Care Act (ACA), also known as Obamacare, despite multiple failed attempts during his previous term. Conversely, Harris aims to permanently expand the enhanced subsidies provided through the ACA, which have significantly reduced premiums for many consumers. Experts warn that extending these tax credits is crucial to prevent premium spikes and maintain coverage gains.

Medicaid Expansion: Bridging the Coverage Gap

Medicaid expansion remains a contentious issue, with 10 states yet to adopt the ACA’s provisions. This has resulted in approximately 2 million individuals lacking healthcare coverage. States that have expanded Medicaid have seen reductions in uninsured rates and improvements in health equity. The current national uninsured rate stands at 8.2%, with significant disparities among racial and ethnic groups.

Reproductive Health: A Key Voter Concern

Reproductive health, particularly abortion rights, is another critical issue for voters. Harris is a staunch advocate for restoring Roe v. Wade through legislation, while Trump has been less clear on his stance regarding a national abortion ban. His administration previously took steps to limit access to abortion, but he has recently attempted to adopt a more moderate tone on the issue.

Conclusion

As the 2024 presidential election draws near, healthcare remains a central concern for voters. The candidates’ differing approaches to issues such as medical debt, out-of-pocket costs, the Affordable Care Act, Medicaid expansion, and reproductive health will undoubtedly shape the electoral landscape. With healthcare costs continuing to rise and disparities in access persisting, voters will be looking for solutions that address these pressing challenges. The outcome of this election may significantly impact the future of healthcare policy in the United States.

Adriana Belmonte is a reporter and editor covering politics and healthcare policy for Yahoo Finance. Follow her on X @adrianambells or reach her at adriana@yahoofinance.com.