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 Eric Seidel 15 months ago
Can anyone explain the Affordable Care Act to me?I was honestly going to make a Hub about this, asking this very question, and I had written 800 something words on the subject. Ok actually it's more like a mild rant, but I think this would be better as a Hubpages question rather than a Hub that no...
by Poppa Blues 8 years ago
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by sonabaji 7 years ago
is thier any assurity for safety?
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What is a good health insurance for the self-employed?Does anyone know of a company that provides good health insurance coverage at a fairly inexpensive rate?
by backporchstories 6 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 Kentucky. Also, when it comes to medicial treatment, I am very old school...we...
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Do you avoid necessary medical tests and check-ups?Does the high expense or poor insurance coverage keep you from seeking care?
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