How to Finance a Medical Emergency

An OppLoans E-Book

Owl4


Top 10 Must-Know Facts About Medical Debt

  • One in four Americans are currently struggling with medical debt.33
  • 8.8 percent of Americans, or 28.2 million people, don’t have any medical insurance.34
  • On average, the United States spends more than $10,000 per person on health care costs every year, the most of any country in the world with a similar average life expectancy.35
  • 63 percent of insured Americans with mounting medical bills still report using up all or most of their savings paying off their medical debt.36
  • Medical debt has driven 7% of the Americans who carry it to file for bankruptcy.37
  • The Affordable Care Act (sometimes called Obamacare) rollout actually decreased the amount of medical bankruptcies in the United States.
  • Getting your medical debt sent to collections can result in a 50-100 point drop in your credit score.38
  • 43 million Americans with medical debt say it’s hurting their credit.39
  • The average monthly insurance premium for individuals is $321. For families it’s $833 per month.40
  • More than 74 million Americans are currently enrolled in Medicaid and CHIP.41

< previous next >