Summary
A new study says that medical bills cause financial troubles for more than 2.2 million Americans each year, and they account for about half of all U.S. bankruptcy filings. Most bankruptcy filers have medical insurance but fall upon financial hard times anyway when their policies either lapse or do not cover certain illnesses. One of the study's authors concludes Bill Gates is about the only American who can afford an extended illness.
Original source:
http://www.expressnewsline.com/1005/fullstory1005-insight-medical+illness+bankruptcy-status-28-newsID-23.html
Details
- Serious illness in United States can turn one Bankrupt.
- A New Study has pointed out that the Healthcare Costs in United States for certain serious diseases is so high that a person is not left with any funds at all.
- The study was published in Feb. 2 issue of Health Affairs provides information on the causes and certain cases of Bankruptcy in United States.
- More than 75 percent of the bankruptcy filers had medical insurance.
- But they had to face troubles as during their illness, their medical coverage and insurance policies had lapsed.
- He further pointed out that you are likely to be in financial troubles if you fall ill for long time and you are not Bill Gates.
- The study results also pointed out that medical debtors were much more likely than other bankruptcy filers to have experienced a gap in health insurance coverage.
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