Two-thirds of bankruptcy filers cite illness and medical bills as contributors to financial ruin
February 13, 2019

From the Physicians for a National Health Program:

Medical problems contributed to 66.5% of all bankruptcies, a figure that is virtually unchanged since before the passage of the Affordable Care Act (ACA), according to a study published yesterday as an editorial in the American Journal of Public Health. The findings indicate that 530,000 families suffer bankruptcies each year that are linked to illness or medical bills.

The study, carried out by a team of two doctors, two lawyers, and a sociologist from the Consumer Bankruptcy Project (CBP), surveyed a random sample of 910 Americans who filed for personal bankruptcy between 2013 and 2016, and abstracted the court records of their bankruptcy filings. The study, which is one component of the CBP's ongoing bankruptcy research, provides the only national data on medical contributors to bankruptcy since the 2010 passage of the ACA. Bankruptcy debtors reported that medical bills contributed to 58.5% of bankruptcies, while illness-related income loss contributed to 44.3%; many debtors cited both of these medical issues...

Continue reading at the PNHP website...

You may also like

First big depression advance since Prozac nears FDA approval

"The U.S. Food and Drug Administration is on the brink of approving a breakthrough drug that could upend the way severe depression is treated."

Cannabis smoking associated with higher sperm count, study finds

"Previous research involving animal experiments or men with histories of drug abuse has suggested that cannabis impairs male reproductive health."

A shockingly large majority of health news shared on Facebook is fake or misleading

"You might be surprised to learn how much false information is really out there."