What are the Consequences of Health Care Debt Among Older Adults?

According to a 2022 KFF Health Care Debt Survey, 41% of US adults have some form of health-related debt, with 22% of adults aged 65 and older carrying such debt. This is a particular issue for Medicare households which have larger medical outlays. Health care costs have caused 62% of Medicare-age adults to delay or seek alternatives to needed health care or prescription medications. Health-related debt also led to financial consequences, such as credit score reduction, spending cuts, savings depletion and increased borrowing.