Health Insurance and Bankruptcy

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PostPosted: Wed Sep 10, 2008 3:26 pm   Post subject: Health Insurance and Bankruptcy  

When I read the following article, I was shocked to learn that many people did not have enough health insurance coverage making them vulnerable to medical debt and subsequently bankruptcy. I hope this information can be of help to create awareness among the general public

HOUSTON, Sep 09, 2008 (BUSINESS WIRE) -- An unexpected medical emergency or prolonged condition can quickly become an overwhelming financial burden. According to a study published in the Journal of Health Affairs, medical debt is now one of the leading causes of bankruptcy, affecting an estimated average of 2 million Americans each year. While many depend on health insurance to assist with the cost of medical treatment, an overwhelming 75.7 percent of those whose illness led to bankruptcy had insurance at the onset of their illness.


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