12% Of Americans Borrowed To Pay Medical Bills In 2024, Totaling $74 Billion

During 2024, about 30 million Americans reported borrowing money—an estimated $74 billion—to pay for medical care for themselves or a family member. About 58% of Americans are concerned that they would experience medical debt in the event of a major health crisis. Among those who borrowed funds, the median amount borrowed increased with age, from $300 among those aged 18 to 29 to $3,000 or more among those age 50 and older. Across all ages, 38% borrowed less than $500.

Borrowing to pay for health care is more common among adults under age 50. Women under age . . .