Healthcare insecurity in U.S. drops to record low: Gallup

Fewer Americans reported not having enough money in the past 12 months to pay for healthcare or medicine than at any point since Gallup began tracking this metric in 2008, the Gallup said in a study released Monday.

Although roughly one in six Americans report having times in the past year when they were unable to afford the healthcare or medicine they needed, this is down significantly from just three years ago.

The expansion of health insurance coverage to millions more Americans under the Affordable Care Act -- or Obamacare -- is likely a major factor in the decline of healthcare insecurity, demonstrating a concrete benefit of the law, Gallup said.

Overall, the percentage of U.S. adults with healthcare insecurity has dropped 3.5 percentage points since the fourth quarter of 2013.

This drop in healthcare insecurity coincides with the decline in the percentage of uninsured Americans, which has fallen from 17.1 percent in the fourth quarter of 2013 -- just before the Affordable Care Act's requirement that Americans have health insurance went into effect -- to 11 percent in the first quarter of this year, Gallup found.

Since late 2013, the percentages of both uninsured and insured Americans who report struggling to afford healthcare has declined. The decline has been larger among the uninsured population -- from 45 percent to 41.8 percent, Gallup said.

Both insured and uninsured Americans' greater ability to afford healthcare and medicine could also reflect an improving economy, Gallup said.

But it could be that Americans are less burdened in other areas, such as energy costs from the decline in gas prices, which leaves more money for healthcare and other expenses, Gallup contended.

Obamacare was signed into law in 2010, and the law continues to be controversial, with critics contending the health care overhaul will drive up the cost of healthcare for the middle class while proponents tout the law for providing healthcare to people who cannot afford it.

The U.S. middle class and above are likely to see their healthcare costs increase, as they cover the costs of the healthcare for lower income individuals and families.

But the fate of the Obamacare itself remains uncertain. It has survived two Supreme Court challenges to date, but Republican presidential nominee Donald Trump has vowed to repeal the law if he is elected.

If the Obamacare is repealed under a new administration, 24 million Americans could become newly uninsured by 2021, according to a recent Urban Institute report. Endit