Simply put, when there isn’t enough coverage from the health insurance for medical bills people are turning to bankruptcy to solve the financial situation they are faced with.
Illness and medical bills caused half of the 1,458,000 personal bankruptcies in 2001, according to a study published by the journal Health Affairs.
The study estimates that medical bankruptcies affect about 2 million Americans annually.
Another interesting fact, most of those bankrupted by illness had health insurance. More than 3/4 were insured at the start of the bankrupting illness. However, 38 % had lost coverage at least temporarily by the time they filed for bankruptcy.
{"id":95,"date":"2006-02-15T13:10:22","date_gmt":"2006-02-15T18:10:22","guid":{"rendered":"http:\/\/www.cashunclaimed.com\/unclaimed-property-blog\/uncategorized\/what-do-health-insurance-and-bankruptcy-have-in-common"},"modified":"2006-02-15T13:12:35","modified_gmt":"2006-02-15T18:12:35","slug":"what-do-health-insurance-and-bankruptcy-have-in-common","status":"publish","type":"post","link":"https:\/\/www.cashunclaimed.com\/unclaimed-property-blog\/personal-finance\/debt\/what-do-health-insurance-and-bankruptcy-have-in-common","title":{"rendered":"Do you know what health insurance and bankruptcy have in common?"},"content":{"rendered":"\n\n\t<\/p>
Simply put, when there isn’t enough coverage from the health insurance for medical bills people are turning to bankruptcy to solve the financial situation they are faced with.<\/p>\n\n\t
<\/p>
Illness and medical bills caused half of the 1,458,000 personal bankruptcies in 2001, according to a study published by the journal Health Affairs. <\/p>\n\n\t
<\/p>
The study estimates that medical bankruptcies affect about 2 million Americans annually.<\/p>\n\n\t
<\/p>
Another interesting fact, most of those bankrupted by illness had health insurance. More than 3\/4 were insured at the start of the bankrupting illness. However, 38 % had lost coverage at least temporarily by the time they filed for bankruptcy.<\/p>\n\n