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Americans Aren't Saving Enough for Medical Care, Data Shows

Tags: money stocks
DATE POSTED:November 17, 2019

Healthcare is a grueling expense for Americans of all ages, and new data from AccessOne highlights the fact that working adults on a whole aren't adequately prepared for it. An estimated 21% of millennials, 31% of Gen Xers, and 16% of baby boomers have delayed medical care because they couldn't afford it. Meanwhile, 19% of millennials, 18% of Gen Xers, and 17% of baby boomers have had to charge medical expenses on a credit card and then pay it off in the absence of having money immediately available to cover those bills.

Of course, the fact that healthcare costs have reached exorbitant levels for many Americans doesn't help matters. Among those surveyed by AccessOne, 60% said they or their family members have spent at least $1,000 on medical expenses in the past year, while 38% spent $2,500 or more. But the last thing you want to do is let healthcare costs drive you into debt, or force you to delay care and compromise your health in the process, so here are a couple of ways to avoid either fate.

IMAGE SOURCE: GETTY IMAGES.

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Tags: money stocks