Medical bills cause 60% of U.S. bankruptcies

Discussion in 'Economy' started by Chris, Jun 5, 2009.

  1. Chris
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    Chris Gold Member

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    This year, an estimated 1.5 million Americans will declare bankruptcy. Many people may chalk up that misfortune to overspending or a lavish lifestyle, but a new study suggests that more than 60 percent of people who go bankrupt are actually capsized by medical bills.

    Bankruptcies due to medical bills increased by nearly 50 percent in a six-year period, from 46 percent in 2001 to 62 percent in 2007, and most of those who filed for bankruptcy were middle-class, well-educated homeowners, according to a report that will be published in the August issue of The American Journal of Medicine.

    "Unless you're a Warren Buffett or Bill Gates, you're one illness away from financial ruin in this country," says lead author Steffie Woolhandler, M.D., of the Harvard Medical School, in Cambridge, Mass. "If an illness is long enough and expensive enough, private insurance offers very little protection against medical bankruptcy, and that's the major finding in our study."

    Medical bills prompt more than 60 percent of U.S. bankruptcies - CNN.com
     
  2. KittenKoder
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    KittenKoder Senior Member

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    Welcome to the world of regulation ... you can't expect the prices to go down while all competition is being regulated out of business by the government, can you.
     
  3. Fraulein Hilda
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    Fraulein Hilda BANNED

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    Then bailout the bankrupt sick people and keep government the fuck out of my healthcare.
     
  4. Nik
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    Nik Senior Member

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    Right...because in those countries where healthcare is so much cheaper (see Canada, UK, France, Germany...well, pretty much anywhere), they have so much less regulation than we do. :lol:

    You have a severe case of the stupids and a irrational phobia of regulation.
     
  5. Fraulein Hilda
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    Fraulein Hilda BANNED

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    It's not irrational not to want government to make my healthcare decisions.

    Move to Canada, chump.
     
  6. Nik
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    Nik Senior Member

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    Instead you want a huge for profit corporation? Because they are running things so wonderfully, eh?

    And don't have too. Obama is going to implement socialized (to an extent) medicine. Don't like it? Move to zimbabwe, bitch. They have a great system where only the rich get anything at all, should be right up your ally.
     
  7. Fraulein Hilda
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    Fraulein Hilda BANNED

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    Profit is the only motive that works when it comes to goods and services that are highest quality and not in shortage. Remember what happened to domestic manufacture of flu vaccine when Clinton made it illegal to profit from it?

    His own Democrats are jumping ship on this because the more Americans find out about the details, they more they don't want it. The lying sonofabitch knows he has to pass it before people figure out what's in it.

    Why does Obama have to lie about it to get it to pass?
     
  8. KittenKoder
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    KittenKoder Senior Member

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    Actually they do have mush less regulation than we do. A very well known example is knee surgery. Our government has only allowed for the more expensive and painful, as well as less effective, knee replacement. While India has had knee resurfacing perfected, with less pain, less expense, and far more effective and safe. All places with lower medical cost allow the resurfacing, and no complications from the procedure have been reported for the almost ten years it's been in use, while knew replacement is all we allow and has complications every year as well as a shorter life span that the resurfacing. Simply, our government doesn't allow resurfacing because the primary supplier for replacements is greasing their palms. That's what regulation does, and that's how it works.
     
  9. Chris
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    Chris Gold Member

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    Not only is healthcare cheaper in every other Western democracy, but because our companies are the only ones in the world that have to pay for healthcare, they are at a huge competitive disadvantage.

    The lack of national healthcare is killing American business.
     
  10. Soaring
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    Soaring Active Member

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    Companies are not required to pay for healthcare for their employess. Where in hell did you get that wrong information? Companies pay their employees healthcare insurance to attract the finest among the ones who apply for those jobs in order to make more money with the brightest of minds helping to run the company. Consider that to be a perk for working for that company, not a guaranteed and mandated demand to do so. Not sure where you lefties get these lies from, but what you are doing is spreading misinformation and spewing lies about the healthcare industry.
     

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