One in Three Americans Delay Medical Care Due to Cost, HealthEquity Research Finds

Rhea-AI Summary

HealthEquity (NASDAQ: HQY) released its Spring 2026 Healthcare Affordability Pulse, showing that 36% of Americans delayed or avoided needed medical care in the prior six months due to cost. The survey links affordability pressures to workplace productivity losses and finds HSA holders report stronger financial readiness and control.

News Market Reaction – HQY

-0.94%

-0.94% Session close to close

In the Jun 8 session, HQY declined 0.94%, reflecting a mild negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

Market Context

This announcement underscores widespread healthcare affordability stress—36% of respondents delayed ...

Analysis

This announcement underscores widespread healthcare affordability stress—36% of respondents delayed or avoided needed care—while highlighting that HSA holders report stronger confidence and preparedness, with 88% feeling more financially secure. For HealthEquity, which recently posted quarterly revenue of $354.6 million and raised fiscal 2027 guidance, the data reinforces the strategic role of HSAs. Investors may watch future surveys, HSA adoption metrics, and employer engagement as key indicators.

Key Figures

Delayed or avoided care: 36% Financially prepared for healthcare: 42% Chronic patients delaying care: 44% vs 25% +5 more

8 metrics

Delayed or avoided care 36% Respondents delaying or avoiding needed medical care in past six months

Financially prepared for healthcare 42% Share feeling financially prepared for healthcare expenses, down from 50%

Chronic patients delaying care 44% vs 25% Chronic condition patients vs non-chronic delaying care

Productivity loss 7.3 hours Average weekly productivity lost per worker due to financial stress

Employer cost of stress $183 billion Estimated annual cost to U.S. employers from productivity loss

HSA affordability edge 43% more likely HSA holders saying healthcare expenses are mostly or completely affordable

HSA financial security 88% HSA holders saying their account helps them feel financially prepared

Survey sample size 1,031 respondents Spring 2026 survey of full-time, part-time, and self-employed Americans

Historical Context

5 past events · Latest: May 28 (Positive)

Pattern 5 events

Date	Event	Sentiment	24h Move	Catalyst
May 28	Earnings, guidance raise	Positive	-2.8%	Reported Q1 growth with raised fiscal 2027 revenue and EBITDA guidance.
May 05	Earnings date set	Neutral	+0.8%	Announced Q1 earnings release timing and upcoming investor conferences.
Mar 30	Board appointment	Positive	-1.3%	Added Sanford Health CEO Bill Gassen to board and key committees.
Mar 17	Record results, outlook	Positive	+0.2%	Reported record FY26 results and raised fiscal 2027 financial outlook.
Feb 23	Peer board change	Neutral	+0.0%	Phreesia appointed Jon Kessler to its board, with limited impact on HQY.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Pattern Detected

Positive fundamental updates (record results, raised outlook) have sometimes seen muted or even negative next-day price reactions.

Recent Company History

Over the past few months, HealthEquity has highlighted strong fundamentals, including record fiscal 2026 results and raised fiscal 2027 guidance with revenue guided to $1.410–$1.420 billion and Adjusted EBITDA to $625–$633 million. Q1 fiscal 2027 results maintained this trajectory with revenue of $354.6 million and net income of $69.4 million. Board changes added healthcare expertise. Today’s research-driven news reinforces the company’s positioning as a leading HSA custodian amid growing affordability pressures.

Key Terms

health savings account, hsa, medication non-adherence

3 terms

health savings account financial

"HealthEquity (NASDAQ: HQY), the nation's largest independent health savings account (HSA) custodian"

A health savings account (HSA) is a personal savings account that lets people set aside money for medical expenses with special tax benefits: contributions reduce taxable income, the money can grow tax-free, and withdrawals for qualified health costs are tax-free. Think of it as a dedicated emergency fund for healthcare that can also be invested like a retirement account. Investors watch HSAs because they can shift how consumers pay for care, create investable pools of assets, and affect employer benefit costs and employee financial stability.

hsa financial

"Having an HSA correlates with a fundamentally different relationship with healthcare costs."

A Health Savings Account (HSA) is a tax-advantaged savings account that people use to pay for qualified medical expenses when paired with a high-deductible health insurance plan. Think of it as a personal medical piggy bank that grows tax-free and can be used for doctor visits, prescriptions, and other eligible care. Investors watch HSA growth because rising balances and account use can signal changing consumer healthcare spending, affect insurers, banks, and health-related businesses, and influence demand for medical services and products.

medication non-adherence medical

"studies have shown that medication non-adherence alone adds more than $5 billion annually"

Medication non-adherence is when patients do not take prescribed drugs as directed — for example missing doses, taking the wrong amount, stopping early, or using the medication at the wrong times. For investors, it matters because poor adherence can make a drug look less effective in trials, reduce real-world sales and repeat prescriptions, increase healthcare costs, and create unpredictable revenue and regulatory risk—much like customers buying a product but not using it as intended.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Healthcare Cost Pressures Drive Workplace Productivity Losses; HSA Holders Report Stronger Confidence and Control

DRAPER, Utah, June 08, 2026 (GLOBE NEWSWIRE) -- Healthcare affordability remains a significant pressure point for American workers, with more than one in three delaying or avoiding care due to cost, according to new research from HealthEquity (NASDAQ: HQY), the nation's largest independent health savings account (HSA) custodian by account volume. The findings, released today as part of HealthEquity’s second Healthcare Affordability Pulse, show how these pressures are shaping care decisions, workplace productivity, and financial preparedness across American households.

HealthEquity’s Spring 2026 survey found that healthcare-specific pressures show no signs of easing. A recent Gallup poll cites healthcare affordability as Americans' top domestic concern and HealthEquity's data underscores why. Over a third of respondents (36%) reported delaying or avoiding needed medical care due to cost in the past six months. Despite a 16-point jump in benefits understanding since the Fall 2025 wave, the share of consumers who feel financially prepared for healthcare expenses fell from 50% to 42%, showing that knowledge alone isn't enough to close the financial gap.

The Real Cost of Delayed Care
Among the 36% of respondents who reported delaying care, the most commonly skipped services were specialist visits, prescription medications, and diagnostic tests, precisely the care tied to early detection and ongoing condition management. The impact is sharpest among those with the least margin for error:

• Chronic condition patients: 44% delayed care, compared to 25% of those without chronic conditions
• Lower-income households: 46% of those earning under $50,000 delayed or avoided care
• Younger workers: Gen Z (45%) and Millennials (42%) delayed at significantly higher rates than Gen X (30%) or Boomers (29%)
  

Workers may also be skipping care they're already entitled to receive. Despite most health plans covering preventive visits at no additional cost, one in three respondents don't fully understand this benefit, a knowledge gap that likely keeps people from seeking care that could catch problems early.

Skipping care merely defers costs and often multiplies them. Commonwealth Fund research shows that more than half of adults with employer coverage who delayed care reported their health problems worsened as a result. The financial consequences follow at every level: studies have shown that medication non-adherence alone adds more than $5 billion annually to the U.S. healthcare system, a figure that reflects only what's visible at the system level, not the compounding burden individuals carry.

"Healthcare costs are forcing Americans to make tradeoffs no one should have to face: skipping a test, delaying a specialist visit, or going without a prescription,” said Scott Cutler, HealthEquity President and CEO. “For employers, this is more than a benefits issue –it is a workforce health, productivity, and financial resilience issue. The urgency here cannot be overstated.”

Delayed Care As a Workforce Productivity Issue
The ripple effects of healthcare affordability pressure don't stop at the doctor's office. Nearly half of all respondents (48%) say they are more financially worried now than six months ago. Among younger workers, the anxiety is following them to work: Millennials are four times more likely than Boomers to report being highly distracted at work due to financial strain (32% vs. 8%).

The cost to employers is significant as workers lose an average of 7.3 hours of productivity each week due to financial stress, costing U.S. employers an estimated $183 billion annually. Healthcare affordability fuels a vicious cycle: employees under financial stress are not only distracted but more likely to delay or skip care, leading to worse health outcomes, higher absenteeism, and additional costs that ultimately land back on the employer's balance sheet.

HSAs Make a Measurable Difference
Having an HSA correlates with a fundamentally different relationship with healthcare costs. The Spring 2026 Pulse illustrates the real changes in how people think about, plan for, and absorb medical expenses. Across every metric, HSA holders demonstrate meaningfully stronger financial readiness:

• Affordability: HSA holders are 43% more likely to say their healthcare expenses are mostly or completely affordable than non-HSA individuals
• Preparedness: 49% of HSA holders feel prepared to cover routine healthcare expenses, compared to 36% of non-HSA individuals
• Sense of security: 88% of HSA holders say their account helps them feel financially prepared for healthcare expenses — at least somewhat — and 54% say it helps a great deal or quite a bit
• Benefits literacy: 72% of HSA holders understand their benefits very or extremely well, versus 64% of non-HSA individuals
• Control: HSA holders with strong benefits understanding are three times more likely to report "quite a bit of control" over healthcare costs (27% vs. 9%)
  

"When 88% of HSA holders say their HSA helps them feel more financially secure, the message is clear: HSAs fundamentally change how people experience healthcare costs,” Cutler continued. “The challenge now is scale. Employers should think about HSAs the way they think about retirement readiness, not as a benefits line item, but as a core part of workforce financial resilience.”

The HealthEquity Healthcare Affordability Pulse tracks American consumer sentiment on healthcare costs, financial preparedness, and economic wellbeing on a biannual basis. The Spring 2026 edition surveyed 1,031 full-time, part-time, and self-employed Americans who were primary or shared healthcare decision makers enrolled in employer-sponsored health plans between Feb. 11 and Feb. 26, 2026.

The full report, including detailed demographic breakdowns and methodology, is available for download at https://www2.healthequity.com/research/spring-2026-healthcare-affordability-pulse/.

About HealthEquity
HealthEquity and its subsidiaries administer HSAs and various other consumer-directed benefits for over 17 million accounts, working in close partnership with employers, benefits advisors, and health and retirement plan providers who share our unwavering commitment to our mission of saving and improving lives by empowering healthcare consumers. Through cutting-edge solutions, innovation, and a relentless focus on improving health outcomes, we empower individuals to take control of their healthcare journey while ultimately enhancing their overall well-being. For more information, visit www.healthequity.com.

Media Contact
media@healthequity.com

FAQ

What did HealthEquity (NASDAQ: HQY) find about delayed medical care in Spring 2026?

HealthEquity found that 36% of surveyed Americans delayed or avoided needed medical care in the past six months due to cost. According to HealthEquity, skipped services often included specialist visits, prescriptions, and diagnostic tests, especially among chronic patients, lower-income households, and younger workers.

How are healthcare costs affecting workplace productivity according to HealthEquity HQY research?

HealthEquity reports that workers lose an average of 7.3 hours of productivity each week due to financial stress. According to HealthEquity, this translates into an estimated $183 billion in annual costs for U.S. employers and is closely tied to healthcare affordability pressures.

What does the HealthEquity (HQY) Healthcare Affordability Pulse say about HSA holders’ financial readiness?

HealthEquity’s research indicates HSA holders feel more financially ready for healthcare expenses than non-HSA individuals. According to HealthEquity, 49% of HSA holders feel prepared for routine expenses versus 36% of non-HSA individuals, and 88% say their HSA helps them feel financially prepared.

How do HSA holders’ benefits understanding compare to non-HSA individuals in the HealthEquity HQY survey?

HSA holders show higher benefits literacy in HealthEquity’s Spring 2026 Pulse. According to HealthEquity, 72% of HSA holders say they understand their benefits very or extremely well, compared with 64% of non-HSA individuals, supporting greater confidence and perceived control over healthcare costs.

What demographic groups most often delayed care due to cost in HealthEquity’s 2026 findings?

HealthEquity found higher care delays among chronic condition patients, lower-income households, and younger workers. According to HealthEquity, 44% of chronic patients, 46% of households under $50,000, and up to 45% of Gen Z respondents reported delaying or avoiding medical care because of cost.

How large was the sample for HealthEquity’s Spring 2026 Healthcare Affordability Pulse study?

HealthEquity surveyed 1,031 U.S. adults for its Spring 2026 Healthcare Affordability Pulse. According to HealthEquity, participants were full-time, part-time, and self-employed healthcare decision makers enrolled in employer-sponsored health plans, surveyed between February 11 and February 26, 2026.