Individuals often see insurance as being a tough purchase, even health insurance plans, but these are absolutely vital for every individual residing in the US at present. The economy is going downhill, retirement funds have very little value in them and people are having their houses repossessed left and right.
The market values of houses have plummeted to all time lows, people no longer have value in their homes and bankruptcies are at an all time high. These have elevated by 34.5% in comparing to the same period last year.
What is even more astonishing is the fact that the American Journal of Medicine has released outcomes from a study by Harvard Medical School and the Cambridge Hospital, which tells almost unconditionally that high medical costs have been the reason why numerous people have had to file for bankruptcy. We have also heard it referred that many people losing their homes to foreclosure have been laid low by unwellness and tremendous medical bills.
Enter another two schools into the study, Ohio and Harvard Law School. These guys have set up research which categorically says 60% of bankruptcy recordings in 2007 were caused by individuals being unable to afford to pay bills for medical treatment. It is already tough enough that the cost of medical treatment is so steep, but for people to have been brought so low by it is an even larger curse.
The scenario is causing a social-economic problem that has escalated out of all proportion. Matters are out of reach and the powers that be don't seem to be either willing or able to help. The results of the above-mentioned survey came from a test group of 2,214 bankruptcies. The cause for bankruptcy was determined by analyzing court dockets and interviewing the people interested, and this is what resulted in the researchers findings: More than half the bankruptcy filings were due to medical reasons!
Individuals who have medical coverage also still have to file for bankruptcy as they suffer life threatening illness, because they are under-insured. When this happens they are left with a climbing pile of unpaid medical bills. Lots of these medical bills are several thousands of dollars.
Of the individuals who have been declared medically bankrupt the general individual still owed $19,000 for medical bills, and these were the insured group. People who were uninsured and claimed medical bankruptcy owed and average of nearly $29,000 in out-of-pocket medical bills.
Nearly all medical coverage is associated to employment, if an illness can spark both the loss of a job and health insurance coverage, that someone is quite evidently in really deep difficulty, what on earth have we done to be experiencing a state of affairs such as this?
The market values of houses have plummeted to all time lows, people no longer have value in their homes and bankruptcies are at an all time high. These have elevated by 34.5% in comparing to the same period last year.
What is even more astonishing is the fact that the American Journal of Medicine has released outcomes from a study by Harvard Medical School and the Cambridge Hospital, which tells almost unconditionally that high medical costs have been the reason why numerous people have had to file for bankruptcy. We have also heard it referred that many people losing their homes to foreclosure have been laid low by unwellness and tremendous medical bills.
Enter another two schools into the study, Ohio and Harvard Law School. These guys have set up research which categorically says 60% of bankruptcy recordings in 2007 were caused by individuals being unable to afford to pay bills for medical treatment. It is already tough enough that the cost of medical treatment is so steep, but for people to have been brought so low by it is an even larger curse.
The scenario is causing a social-economic problem that has escalated out of all proportion. Matters are out of reach and the powers that be don't seem to be either willing or able to help. The results of the above-mentioned survey came from a test group of 2,214 bankruptcies. The cause for bankruptcy was determined by analyzing court dockets and interviewing the people interested, and this is what resulted in the researchers findings: More than half the bankruptcy filings were due to medical reasons!
Individuals who have medical coverage also still have to file for bankruptcy as they suffer life threatening illness, because they are under-insured. When this happens they are left with a climbing pile of unpaid medical bills. Lots of these medical bills are several thousands of dollars.
Of the individuals who have been declared medically bankrupt the general individual still owed $19,000 for medical bills, and these were the insured group. People who were uninsured and claimed medical bankruptcy owed and average of nearly $29,000 in out-of-pocket medical bills.
Nearly all medical coverage is associated to employment, if an illness can spark both the loss of a job and health insurance coverage, that someone is quite evidently in really deep difficulty, what on earth have we done to be experiencing a state of affairs such as this?
About the Author:
These days it is extremely difficult to find the most affordable medical insurance, if you would like more help in this matter then you should swing by Janet's webpage which explains major medical health insurance for college students.
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