Only 45% of Americans Are Adequately Prepared to Cover Medical Expenses, Data Shows
Medical expenses can wreak havoc on your finances if you aren't prepared for them. And unfortunately, most Americans aren't. Only 45% have used savings or available cash to pay for a medical expense in the past year, according to Freedom Debt Relief's new survey on healthcare costs.
On the other hand:
Furthermore, if faced with a $2,000 medical emergency, only 35% of those surveyed would use savings or available cash to cover it. It's not surprising, then, to learn that the majority of Americans have $1,000 in medical debt or more, with 10% owing $20,000 or more for health-related expenses.
Source Fool.com
