Twenty five percent of Americans say they currently have more medical debt than emergency savings, according to a new report.
Bankrate.com released this finding in Health Insurance Pulse, a monthly survey that tracks how Americans are feeling about health care and their personal finances. Princeton Data Source, a sister company of Princeton Research Associates International, conducted the telephone survey of 1,006 U.S. adults.
The proportion of Americans whose medical debt exceeds emergency savings, the research shows, increases as income declines. Among those earning less than $30,000 per year, 44 percent have more medical debt.
People who do not have medical debt are concerned about it, the report adds. Over half of Americans (55 percent) are worried they will find themselves overwhelmed by medical debt (27 percent are very worried and 28 percent are somewhat worried).