Aggravating the Wound: Health Care Debt
“A new study published in The American Journal of Medicine says that the biggest reason for going into bankruptcy is medical debt. [The study] says that getting sick is a factor in 62 percent of personal bankruptcies – an increase from just eight percent in 1981” – CBS News
The report goes on to say that, among those who filed for bankruptcy, 75 percent reported having some type of medical insurance. According to the Washington Post, people in bankruptcy with insurance were nearly $18,000 in the red as compared to those without insurance having almost $27,000 in medical debt.
So, where is this chapter going to go. That, as you should know by now, depends on YOU.