The tumult of the early 2020s brought on by the COVID-19 pandemic might have subsided. Yet, the SARS-CoV-2 virus continues to impose significant financial strains on some Americans, as a recent study by the University of Georgia revealed.

This study highlights how long COVID-19 is exacerbating difficulties for many individuals in managing their finances, hindering their ability to pay for necessities such as groceries and utility bills. The findings suggest that these financial challenges primarily stem from the loss of employment and reduced working hours, with the adverse economic impacts of the condition cutting across all socioeconomic levels.

Ishtiaque Fazlul, the principal investigator of the study and an assistant professor affiliated with both UGA’s School of Public and International Affairs and UGA’s College of Public Health, stressed the ongoing nature of COVID. He pointed out that long COVID continues to be a significant issue, causing financial hardships for people from diverse backgrounds. Fazlul noted that while the pandemic might seem like a past event, its long-term effects, such as long COVID, are a current problem affecting individuals’ financial situations.

The financial burdens of long COVID are particularly severe for those on lower incomes. The study’s data revealed that individuals in the lowest income brackets who suffer from long COVID are 10 percentage points more likely to experience food insecurity. They also face a higher risk of losing access to crucial utilities due to financial constraints.

However, even individuals in higher income groups are not immune to these challenges, as the study found similar financial difficulties across different income levels. The study utilised data from a comprehensive survey by the Centers for Disease Control and Prevention, which included responses from over 270,000 Americans across 40 states. Out of these, approximately 20,000 participants reported suffering from long COVID, with those in lower income groups and without college degrees being disproportionately affected.

Fazlul highlighted that any decrease in income could push low-income Americans into food insecurity and make it difficult for them to manage their bills. He also pointed out that while higher-income individuals might have the option to work from home or rely on savings, those with lower incomes often have fewer resources to fall back on, exacerbating their vulnerability during such health crises.

The study also suggested several policy interventions that could mitigate these challenges. These include providing more flexibility in work hours and telecommuting policies, which could help long-term COVID sufferers maintain their employment and access to health care. Enhancing healthcare services to better manage long-term COVID symptoms could also significantly improve patients’ quality of life.

Moreover, the researchers argued that increasing job security and access to credit could provide a financial safety net for those affected by long COVID. Fazlul concluded by emphasising the importance of addressing the economic impacts of long COVID, advocating for greater attention to this ongoing issue that continues to affect the financial well-being of many Americans.

More information: Ishtiaque Fazlul et al, Long COVID and financial hardship: A disaggregated analysis at income and education levels, Health Services Research. DOI: 10.1111/1475-6773.14413

Journal information: Health Services Research Provided by University of Georgia