While a larger percentage of baby boomers' debt concerns medical expenses, their average amount owed is much lower than Generation Xers', according to a survey by debt financing solution provider Comet.
For the survey, Comet asked 1,000 Americans questions about their financial status and debt history.
Of baby boomer respondents, 80.9 percent said they have debt. This is compared to 79.9 percent of Gen Xers and 81.5 percent of millennials.
Thirty-three percent of baby boomers said their debt concerned medical bills, while 28 percent of Gen Xers and more than 23 percent of millennials said the same. However, the average amount of medical debt owed by each generation varied.
Here are the average amounts of medical debt owed by each generation.
Baby boomers: $2,408
Generation X: $19,670
Millennials: $11,622
For the full analysis from Comet, click here.
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