Medical Debt Affects Millions of Adults Ages 50 to 64

In 2023, 8 million people ages 50 to 64 had medical debt, defined as having medical bills not paid in full or that are being paid off over time. Midlife adults have the highest prevalence of medical debt among all age groups, even though most have health insurance through an employer or the individual market. Many people in this age range who have medical debt have lower incomes, live in rural areas or in the South, and often face bills from routine care such as lab tests or doctor visits. Over half of midlife adults with medical debt owed at least $2,000 in 2023, and 16 percent owed $10,000 or more, creating a substantial financial burden. Read the full report.

Key Takeaways:

• In 2023, 8 million people ages 50 to 64—or about one in eight in this age group— had medical debt.
• Between 2017 and 2023, midlife adults were more likely to have medical debt than those in other age groups.
  
• The share of midlife adults with medical debt decreased between 2017 and 2023, likely due to increased rates of insurance coverage as the Affordable Care Act was implemented.
• Midlife adults with medical debt are more likely to identify as non-Hispanic Black, have lower incomes, live in rural areas, and live in the South.
• Over half of all midlife adults with medical debt owed at least $2,000 in unpaid medical bills and one in four owed at least $5,000 in 2023.
• Midlife adults with medical debt frequently cite unpaid medical bills from doctor visits or diagnostic tests as key sources of unpaid medical bills.