(Update) Many Bankruptcies Caused By Outragious Medical Bills
June 5, 2009 by admin
One need look no further than their medical bills to explain why so many bankruptcies are reported each year in the United States.
The cost of medical care in the country is stupendous, and this is even the case for people who can afford some level of health care coverage.
The study, from researchers from Harvard Law School, Harvard Medical School and Ohio University, found that in 2007, 2 thirds of bankruptcies were because of medical bills.
Even families with health insurance endure high price medical bills, because of deductables, co-payments and uncovered services.
According to lead author of the study, David Himmelstein, an associate professor of medicine at Harvard Medical School, many families are just one big medical bill away from bankruptcy.
