1 in 7 Americans Borrowed for Healthcare — 11% Even Skipped Meals to Pay Medical Bills

Core Insights - A new report from West Health and Gallup highlights how routine healthcare costs are significantly impacting household finances for millions of Americans, leading to increased borrowing and financial trade-offs [1] Financial Impact on Households - Approximately 1 in 7 Americans borrowed money in the past year for healthcare expenses, resulting in tens of billions of dollars in medical borrowing, primarily through credit cards or personal loans for routine care [2] - About one-third of adults, over 80 million people, reported making significant trade-offs in the last year to afford healthcare, including cutting back on necessities and delaying major life decisions [5] Prescription Management - The report indicates that 15% of Americans have rationed prescriptions to manage costs, which poses clinical risks due to untreated conditions leading to more expensive care later [3] Debt Management Strategies - Households are prioritizing bills each month, with some considering consolidation tools to restructure high-interest medical and household debt into a single, fixed-rate loan [4] Demographic Disparities - The financial strain is most severe among low-income individuals and the uninsured, with 62% of uninsured adults and 55% of households earning less than $24,000 reporting financial trade-offs to afford care [6] - Surprisingly, the burden of medical debt extends to higher income brackets, with about 25% of adults in households earning between $90,000 and $120,000 making sacrifices for healthcare costs, and roughly 10% of those earning $240,000 or more adjusting their finances due to healthcare expenses [7]