Most people would not be surprised to learn that Medical Problems are the number one cause of Bankruptcy Filings... but they might be surprised to learn that 78% of those filings were from people with Health Insurance Coverage.
1. Medical Expenses
A study done at Harvard University indicates that this is the biggest cause of bankruptcy, representing 62% of all personal bankruptcies. One of the interesting caveats of this study shows that 78% of filers had some form of health insurance, thus bucking the myth that medical bills affect only the uninsured.
Rare or serious diseases or injuries can easily result in hundreds of thousands of dollars in medical bills - bills that can quickly wipe out savings and retirement accounts, college education funds and home equity. Once these have been exhausted, bankruptcy may be the only shelter left, regardless of whether the patient or his or her family was able to apply health coverage to a portion of the bill or not.
by sonabaji6 years ago
is thier any assurity for safety?
by ElSeductor4 years ago
Why are some people so eager to take away healthcare for people with pre-existing conditions?
by moneyfairy4 years ago
I am wondering why non-citizens(mainly mexicans) are allowed to come over here and have their babies for free in our hospitals??? And me a tax paying citizen with no health insurance has to pay $180 at a clinic just to...
by Poppa Blues7 years ago
This article is worth reading because it explains clearly why the claims about the health care bill crafted by Obama is nothing but LIES!March 13, 2010The Big Lie of Health Care ReformBy Robert GelinasOne-Sixth of the...
by Alexander A. Villarasa3 years ago
What does one expect of a piece of legislation that was voted on, and passed both by the Senate and Congress, signed into law by Pres. Obama, and certified by the Supreme Court as being constitutional? High...
by backporchstories5 years ago
I know in my life, I can not afford health insurance until a job with decent pay comes my way. I have been unemployeed for eight months now and find work hard to come by in my tiny neck of the woods here in...
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