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Study: 60 percent of personal bankruptcies fueled by medical bills

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Harvard Medical School
American Journal Of Medicine

Medical bills are a drag on patient finances, there's little doubt; but of late it's been a lot more common for them to be a millstone. In fact, they're a factor in more than 60 percent of U.S. personal bankruptcies, according to a paper published in the American Journal of Medicine.

The study, done by researchers from Harvard Law School, Harvard Medical School and Ohio University, surveyed 2,134 random families who filed for bankruptcy between January and April 2007, before the country began struggling with the current financial crisis.

What they found was that while only 29 percent felt medical bills were directly responsible for their bankruptcy, 62 percent had crushing levels of medical debt accounting for more than 10 percent of family income.

What's striking is that more than 75 percent of these families actually had health insurance in place, but still couldn't afford their medical bills due to illness or injury. That may be because many illnesses are far from fully covered. For example, they found that patients with injuries paid $25,096 out of pocket in 2007, diabetics $26,971 and multiple sclerosis patients $34,167.

To learn more about t his study:
- read this Kaiser Health News piece

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Because by means of legalized bribery the military/industrial/corporate/financial complex has finally succeeded in achieving its most cherished goal, defacto control of government, universal health care (single payer)--the fairest and most sensible health coverage, as adopted by virtually all civilized nations--will never, EVER, even be considered here, let alone adopted.

This maybe a crushing truth but the government allowed healthcare in this country to be so expensive. Because of this, its people are hurting and asking for the government to bail them out. It's unfortunate that the people who voted for politicians in this government is not holding these politicians accoutable for poor governing.

I was charged over $ 26K for an appendix operation (just for the hospital).
In the hospital for 9 days. 2 CT scans - each covering the abdomen and pelvis at over $ 2K for each area - don't they know where the appendix is?
add for surgeon, anesthsia, radiology, and a few others - took out a home equity loan.

So what are we going to do? Just sit back and reiterate the stats? Common people wake and see who is sucking your blood: insurance cos, doctors, drug companies, lawyers. One thing is sure, hospitals have become innocent bystanders in this cruel game.

I would argue that the root problem of financial distress by those going into this situation is not always Medical Bills. It is a fundamental feeling in this country that we should not have to save for a rainey day. To not be prepared financially for a significant event because we have purchased the newest TV, Car, too big a house, and then expect that healthcare will be provided without cost is a fools thought.

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