Medical illness can push people into bankruptcy? | Focus on health

A study in the American Journal of Medicine recently reported that about two thirds of bankruptcies in the U.S. were linked to medical problems. What they found surprising was the fact in this article that the majority of those who had filed for bankruptcy insurance. In fact, they found that nearly 80% were insured, including some 60% who had private health insurance. Before filing for bankruptcy, these people were citizens of solid medium and then click a financial disaster. Of those, about two-thirds owned houses and around 66% have attended college. Unfortunately, the healthcare cost increases have been achieved with a loss of working hours and lower wages, or loss of employment altogether.

In case of loss due to many cases

employment so that the results in the loss of health insurance and soon families pay medical expenses out of pocket, which can often in fast-disbursing savings accounts, bonds and other investments, leaving the family there is no way out but to declare bankruptcy.

For many families, bankruptcy is a shameful thing and this leads to bouts of depression, and often more than medical expenses. Before long, that same family who worked hard for so many years to set aside enough savings to get them on a rainy day, is only a few weeks of being broke, homeless, and in the streets, leaving them with little choice but to declare bankruptcy.

Unfortunately, medical expenses once you start up, they tend to spiral out of control like a train moving fast, adding additional charges as of late payment penalties and interest charges Financial. For most people, this is the only way they can see out from under their mounting medical expenses.

Realistic, most middle class Americans have very little protection, as their policies health insurance are leaving gaping holes in the lid, high deductibles for diseases can quickly make you a bad, and many more co-payments. Even those with a disability additional coverage is not always escape the problems that arise due to illness.

Before filing bankruptcy

, many families could benefit from sitting down with someone of their health insurance company and asking what type of coverage is available for people in their situation. Most health insurance companies want to take a good bit of time to help these families and help point them to someone who can help them obtain additional coverage. not one of the biggest problems faced by these families is knowing where to turn for help they need before they reach the point of ?no return?.

Source: http://www.lovefinanceweb.com/?p=44255&utm_source=rss&utm_medium=rss&utm_campaign=medical-illness-can-push-people-into-bankruptcy

2012 ncaa tournament schedule atomic clock daylight savings time john mccain 2012 ncaa bracket game changer selection sunday