31M Americans Had to Borrow for Health Care in 2024

When you've got a medical issue, the only thing worse than the issue itself can be the bill that accompanies it—and as it turns out, a good percentage of us can't afford that bill. According to the latest West Health-Gallup survey, conducted among 3,500-plus respondents in November, more than 31 million American adults (12% of that total demographic) had to borrow money last year to pay for their health care costs, to the tune of $74 billion. Among the more "troubling" aspects, per CBS News: Most of those who were forced to borrow had some form of health insurance. More from the poll:

• Younger generations were more likely to have borrowed for health care needs. Close to one-fifth of those who answered the survey in the 18-29, 30-39, and 40-49 age brackets said they'd had to borrow funds over the past 12 months, while just 9% of the 50-64 group, and only 2% of those 65 and over, had to do the same. CBS notes that Medicare, which offers more comprehensive coverage for the older set, could partially account for the discrepancy.

• Nearly 60% of poll respondents say they're either "somewhat concerned" or "very concerned" that a major health incident could lead to medical debt in their household. Even households with incomes of more than $180,000 are fretting, with about 40% of survey respondents in that category saying they feel some level of concern.
• Women are more likely than men to have been borrowers (except in the 65-and-over group, where it's pretty even), as are Black (23%) and Hispanic (16%) adults over their white counterparts (9%).

According to data from the American Hospital Association from mid-2024, Americans collectively have a $220 billion medical-debt tab. "Too many Americans are racking up medical debt, whether they have health insurance or not," Tim Lash, president of the West Health Policy Center, said in a statement, per the Hill. "A high-priced health care system that requires Americans to take out loans or make painful trade-offs just to stay healthy is in desperate need of policy reform, or things will get even worse." Lash tells CBS that some of those trade-offs may include not paying rent or one's mortgage, or skimping on groceries, to get needed health care. (More health care costs stories.)