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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
Medical Bills Linked to 62% of Bankruptcies
Medical bills are a factor in 60% of bankruptcies, research says.   (Shutterstock)

(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.
(Read more health care costs stories.)

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