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Over 50% of Americans Burdened by Medical Debt in 2024

3/9/2025

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Summary

Story summary

Over 50% of Americans borrowed at least $500 for medical expenses, amounting to $74 billion in 2024.
Younger adults, particularly 18-29 year-olds, show a higher borrowing rate at 18%.
Medical debt concerns are prevalent, with 58% fearing major health events could result in debt.
African Americans (62%) and Hispanic Americans (63%) express greater worries about medical debt than White Americans (56%).

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Story summary

Over 50% of Americans borrowed at least $500 for medical expenses, amounting to $74 billion in 2024.
Younger adults, particularly 18-29 year-olds, show a higher borrowing rate at 18%.
Medical debt concerns are prevalent, with 58% fearing major health events could result in debt.
African Americans (62%) and Hispanic Americans (63%) express greater worries about medical debt than White Americans (56%).