Medical Debt Goes Up as Recession Worsens

According to an article in the Gazette, the amount of medical debt afflicting Americans is on the rise as the number of job losses mount and the recession worsens. That’s why many Americans facing mounting medical debt are filing bankruptcy for relief.

The article said:

“A new national study showed that more than 60 percent of all personal bankruptcies in the country were related to medical problems and most of the people were middle-class and well-educated and had medical insurance.”

Many of those who are insured eventually face medical debt because their insurance policies don’t cover enough or they don’t cover what they expect it to cover. Even if someone has medical insurance they need to carefully review their insurance policy so that they understand what is actually covered by the policy.

Many Americans facing medical debt have been burned by “emergency” medical insurance that was suppose to cover emergency care; but didn’t even cover an ambulance ride once an actual emergency occurred. Or, the “emergency” policy didn’t begin covering medical expenses until the patient paid a set amount of money “out-of-pocket.”

Unfortunately for most debtors facing medical debt, those “out-of-pocket” expenses can often be as much as $5,000. If you’re a debtor facing mounting medical debt, please contact a Dallas- Fort Worth bankruptcy attorney. Medical debt can often be discharged during bankruptcy giving debtors a fresh start financially.

By | 2017-12-13T01:00:45+00:00 June 22nd, 2009|Medical Bills|Comments Off on Medical Debt Goes Up as Recession Worsens