Author: West Health Institute
Published: 2025/03/05
Type of publication: Reports and procedures
Issue: US Medicare System. UU. – Publications list
Page content: Synopsis – Introduction – Major – Ideas, updates
Synopsis: The survey finds that 31 million Americans borrowed $ 74 billion for medical care in 2024, highlighting the generalized concerns of medical debt despite insurance coverage.
Why does it matter: This report from a West Health-Galup survey reveals the amazing reality that 60% of Americans had to borrow more than $ 500 for medical care in 2024, with 12% of 31 million people who take loans for a total of $ 74 billion, despite the fact that most had insurance. It is revealing and useful because it shines a light on how medical debt concerns cross age, race, income and gender, younger adults, women, black and Hispanic people and especially hard parents. For people with disabilities, older people or any person who manages chronic conditions, these findings highlight the real risk of financial tension of a broken health system, so it is a critical reading to understand why the reform is important for so many, Disabled world (DW).
Introduction
60% of Americans had to borrow more than $ 500 for medical care in 2024
West Health-Gallup Survey finds millions concerned with medical debt with more than 31 million Americans (12%) who report that they need to borrow around $ 74 billion last year to pay medical care despite having some kind of health insurance, according to a new West Health and Gallup survey.
Main article
Almost a third (28%) reports that they are «very worried» that an important health event could put them in debt.
The survey found that almost 20% of the 49 -year -old Americans needed to borrow money to cover medical costs compared to only 9% of those 50 to 64.
The women between the ages of 50 and 64 were twice as probabilities that men in the same age group to say that they had to borrow (12% compared to 6%). Two percent of eligible adults for Medicare (those over 65) reported having to borrow.
«Too many Americans are accumulating medical debts, whether they have health insurance or not,» said Tim Lash, president, West Health Policy Center, part of West Health, a family of non -profit organizations focused on health and aging. «A high -price health system that requires Americans to obtain loans or make painful compensation only to stay healthy is a desperate need for a policy reform or things will get even more worse.»
Black adults (23%) and Hispanics (16%) had significantly more likely to report having lent money than white adults (9%).
The biggest disparities were among adults under 50.
The black adults between 18 and 49 years (29%) were the largest borrowers followed by Hispanic adults (19%) and white adults (14%) in the same age range.
Americans with children under 18 were twice as probabilities to inform loans compared to homes without children (19% compared to 8%).
Continued…
Boarding
The Americans collectively borrowed around $ 74 billion to pay medical attention last year, with more than half (58%) lending $ 500 or more and 41% borrowing $ 1,000 or more.
The fourteen percent borrowed $ 5,000 or more.
Concerns about medical debt through age, breed and income
Most Americans (58%) report at least a little worried that an important health event can put them in debt, including 28% who say they are «very worried.»
Concerns cover income levels, with more than six out of 10 homes with annual income below $ 120,000 worried.
Less higher winners worried, but 40% of households that earn more than $ 180,000 report that they also have concerns.
Even with the eligibility of Medicare, more than half (52%) of people 65 years of age or older say that they are at least worried that they can enter in medical debt if they suffered an important health event.
Concerns are also high among black adults (62%), Hispanic adults (63%) and women (62%). Only 14% of respondents say they are not worried at all.
«It is clear that high costs of medical care continue to carry the American people, and financial insecurity around care is not limited to any demographic group,» said Dan Witters, director of Welfare Research in Gallup. «These findings underline the need for solutions that make medical care more affordable for all Americans.»
Methodology
The West Health-Gallup survey was held through November 11 to 18, 2024, with a representative sample of 3,583 American adults 18 years or more. The margin of the sampling error is ± 2.1 percentage points to the 95%confidence level.
Editorial Note: The results of this survey serve as a marked reminder of the continuous crisis of health affairs in the United States. The fact that even households with greater income express concern about potential medical debt underline the generalized nature of this problem. In addition, the displaced disparities between different age groups, racial background and genres highlight the need for specific interventions to address health inequities. The West Health-Galup survey paints a marked image of a health system that leaves millions financially vulnerable, regardless of insurance coverage. When routine medical expenses push people in debt, it points out a system in the crisis, which requires significant reform. Until systemic changes occur, Americans will continue to make impossible financial decisions between their health and their financial safety. As the debate on US health reform continues, this report provides crucial evidence to support the argument of systemic changes that could relieve financial tension in Americans who seek medical attention, Disabled world (DW).
Attribution/source (s): This publication reviewed by the quality was selected for the publication by the Disability World (DW) editors due to its relevance for the disability community. Originally written by West Health Institute and published on 2025/03/05, this content may have been edited by style, clarity or brevity. For more details or clarifications, West Health Institute can be contacted at Westhealth.org NOTE: Disapreded World does not provide any guarantee or endorsement related to this article.
Citing and references
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Quot this page: West Health Institute. (2025, March 5). 60% of Americans had to borrow more than $ 500 for medical care in 2024. Disabled world (DW). Retrieved on March 7, 2025 from www.disabled-world.com/medical/healthcare/us-medicare/bad-system.php
Permanent link: 60% of Americans had to borrow more than $ 500 for medical care in 2024: the survey finds that 31 million Americans borrowed $ 74 billion for medical care in 2024, highlighting the generalized concerns of medical debt despite insurance coverage.
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