Sign up for our daily briefing
Make your busy days simpler with Axios AM/PM. Catch up on what's new and why it matters in just 5 minutes.
Catch up on the day's biggest business stories
Subscribe to Axios Closer for insights into the day’s business news and trends and why they matter
Stay on top of the latest market trends
Subscribe to Axios Markets for the latest market trends and economic insights. Sign up for free.
Sports news worthy of your time
Binge on the stats and stories that drive the sports world with Axios Sports. Sign up for free.
Tech news worthy of your time
Get our smart take on technology from the Valley and D.C. with Axios Login. Sign up for free.
Get the inside stories
Get an insider's guide to the new White House with Axios Sneak Peek. Sign up for free.
Catch up on coronavirus stories and special reports, curated by Mike Allen everyday
Catch up on coronavirus stories and special reports, curated by Mike Allen everyday
Want a daily digest of the top Denver news?
Get a daily digest of the most important stories affecting your hometown with Axios Denver
Want a daily digest of the top Des Moines news?
Get a daily digest of the most important stories affecting your hometown with Axios Des Moines
Want a daily digest of the top Twin Cities news?
Get a daily digest of the most important stories affecting your hometown with Axios Twin Cities
Want a daily digest of the top Tampa Bay news?
Get a daily digest of the most important stories affecting your hometown with Axios Tampa Bay
Want a daily digest of the top Charlotte news?
Get a daily digest of the most important stories affecting your hometown with Axios Charlotte
Sign up for Axios NW Arkansas
Stay up-to-date on the most important and interesting stories affecting NW Arkansas, authored by local reporters
Health care expenses forced 8 million Americans into poverty in 2018, according to the Census Bureau.
The big picture: That's actually an improvement from the past several years, when an annual average of 11 million people fell into poverty because of medical costs — a reflection of the country's expensive system.
How it works: The Census Bureau tracks how various social programs and daily expenses influence poverty rates.
- Social Security, SNAP benefits and housing subsidies are among the most effective anti-poverty programs.
- But year after year, medical expenses remain "the largest contributor to increasing the number of individuals in poverty," according to the Census Bureau.
- Most people who have insurance and who make less than 150% of the federal poverty level don't have enough liquid assets to cover a $1,500 deductible.
The bottom line: People who don't have insurance have the highest risk of falling into poverty, due to the high prices of drugs and procedures.
- But even working Americans who have coverage are facing bleaker financial futures because employers have shifted more health care costs onto their shoulders.
Go deeper: Other developed countries limit out-of-pocket medical expenses