Medical bills cause majority of bankruptcies
Over 62% of all bankruptcies stem from medical bills, and even people with health insurance face financial disaster if they experience a serious illness, a new study shows.
The study, prepared by the American Journal of Medicine, showed over a significant increase in medical related bankruptcies in the 6 years since the previous survey. Also , interesting the study shows that most of the debtors were well educated, home owners and middle class.
Unfortunately most Americans are only one accident or illness away from losing much of what they have worked for their entire lives. I can't count all the people in my office over the years who can't believe what is happening to them. Anybody who tells you the current system is not broken, doesn't know what they are talking about or have a vested interest in the status quo.
