A Complete Guide to Medical Bankruptcy
Sunday, February 21st, 2010The health care system in the United States is broken. About half of all bankruptcies are declared because of insurmountable medical bills, and of that huge number, about 75% of them had health insurance when the problems began.
Medical bankruptcy is not a problem of the poor or the upper middle or upper class. It is a problem for the middle class and the lower middle class – people who work hard, do their best to pay their bills, and raise their families.
All it takes is one major illness or accident and even if they have health insurance, they can owe many thousands of dollars in medical bills. If the accident or illness causes them to lose their job, and thus their health care insurance, their medical bills can run into hundreds of thousands of dollars. (more…)