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Medical Bills Linked to 62% of Bankruptcies

Many bankrupt despite having health insurance, researchers find

By Matt Cantor,  Newser Staff

Posted Jun 4, 2009 8:23 AM CDT

(Newser) – Medical bills were a factor in 62% of American personal bankruptcies in 2007, marking a 50% rise over 6 years, a study found. Some three-quarters of these families couldn’t stay afloat despite having health insurance, Reuters reports. “Most medical debtors were well-educated, owned homes, and had middle-class occupations,” the Harvard and Ohio University researchers said.

Medical bills are a factor in 60% of bankruptcies, research says.
Medical bills are a factor in 60% of bankruptcies, research says.   (Shutterstock)
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Unless you're Warren Buffett, your family is just one serious illness away from bankruptcy. - Dr. David Himmelstein, Harvard University

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COMMENTS
Showing 3 of 7 comments
Robert_Dada
Jun 4, 2009 10:50 AM CDT
You're god damned right.
hungrydave
Jun 4, 2009 6:33 AM CDT
Well won't that also mean raising taxes or operating under a large(r) deficit? You'd still have to pay for the health care but really you're just shifting the costs around.
wwwonderer
Jun 4, 2009 5:42 AM CDT
I think Beth hit it on the head. Mortgages and car notes are something most prepare to take on. Most people I know of don't shop around for medical treatments and procedures. And it seems like medical expenses are unexpected and COSTLY.

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