Unpaid medical bills is the leading cause of bankruptcy in the U.S.

Discussion in 'Economy' started by rdean, Jun 14, 2011.

  1. rdean
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    rdean rddean

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    But medically bankrupt families with private insurance reported average out-of pocket medical bills of $17,749, while the uninsured's bills averaged $26,971. Of the families who started out with insurance but lost it during the course of their illness, medical bills averaged $22,658. "For middle-class Americans, health insurance offers little protection. Most of us have policies with so many loopholes, co-payments, and deductibles that illness can put you in the poorhouse," said lead author Himmelstein. "Unless you're Warren Buffett, your family is just one serious illness away from bankruptcy."

    Study Links Medical Costs and Personal Bankruptcy - BusinessWeek

    The current for-profit health care system is a farce that even if functioning properly, cannot provide health care, because that’s not what it’s designed for. It’s designed to make money. Until it’s replaced with something designed to provide health care, then it’s a good idea to be friends with as many rock stars as you can, in case you too one day need a benefit.

    America’s Health Care Plan: Have a Rockstar Play a Benefit Show to Cover Your Doctor Bills, If You Happen to be Friends With a Rockstar « "The" Josh Gross

    A new study by the American Journal of Medicine has found that some 62% of bankruptcy filings are actually triggered by excessive medical expenses. In the six year period between 2001 and 2007, medical bankruptcies were up by almost 50%. It is estimated that one in five families are struggling with medical expenses.

    Medical Bankruptcy Credit Repair- Credit Restoration Credit Repair College - Credit Restoration - Fast Credit Repair

    National studies conclude that the average American family is as little as three weeks away from bankruptcy, and others suggest most families are one serious illness away from it.
    The No. 1 cause nationally for personal bankruptcy is medical expenses, according to Investopedia, a Forbes company, which cites a study by Harvard University that found medical bills are the leading factor in 62 percent of bankruptcies.

    Valencia County News-Bulletin: Number of bankruptcies nearly tripled in Valencia County

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    Do Republicans see bankruptcy because of Medical Bills as a "good thing"?
     
  2. Defiant1
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    Defiant1 Gold Member

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    Why do people think they don't have to pay their medical bills?
     
  3. rdean
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    rdean rddean

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    First, many people don't have insurance.

    Second, most of us have policies with so many loopholes, co-payments, and deductibles that illness can put you in the poorhouse.

    This is why Democrats wanted the "single payer" option. Republicans vote against anything they suspect of being Obama. Even if it hurts them.
     
  4. Defiant1
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    Defiant1 Gold Member

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    So they can't negotiate a payment plan?
     
  5. Quantum Windbag
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    Quantum Windbag Gold Member

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    Why do you keep repeating this lie?
     
  6. Zander
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    Zander Platinum Member

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    That's why we have bankruptcy. They discharge their debts and get a fresh start. What's the problem?
     
  7. Old Rocks
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    Old Rocks Diamond Member

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    Well, Zany, may you deal well with this lack of a problem.
     
  8. thereisnospoon
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    thereisnospoon Gold Member

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    And just what do you think the government would do differently?
    Please do not say "control costs" or "create efficiencies".....
    In every nation where single payer/universal health insurance/socialized medicine exists, taxes are very high, medical care systems are over loaded while facilities are understaffed. Most if not all of these countries have to import medical expertise from third world nations such as India and Pakistan because non-foreigners cannot afford the expense of medical school followed up with the government regulated salaries.
    The universal systems end up collapsing on themselves because the cost controls become so expensive the system must ration care while demanding more from the taxpayers.
    Our system here is so mucked up with government controls it is a wonder it can function at all.
    Here are some ideas.
    First, allow all insurers to sell poilcies across state lines. No more protected markets
    All medical savings accounts in the form of a tax free payroll deduction much like a 401k. The employee pays a special low percentage tax rate on the account only if he uses the funds.
    Allow the purchase of high deductible catastrophic health insurance. We used to call this "major medical".
    Eliminate all "first dollar" insurance coverage. If doctors are not plowing significant amounts of revenue into administrative costs tied to insurance, this will allow medical providers to lower prices for regular doctor visits for minor afflictions.
    Allow all people to purchase long short term disability insurance. Right now that is available only to the self employed.
    Use means testing for those who are unable to afford private insurance. Offer this coverage as a low percentage tax against their future earnings should they return to work.
    Encourage the expansion of "Doctor's Hospitals" ...These are facilities owned by physicians which do not accept private insurance. Each "member" pays a yearly fee to use the facility for their medical needs. The absence of insurance slashes administrative costs and this is passed along to the patients in the form of much lower prices. **Note** Under Obamacare, Doctor's Hospitals are outlawed....
    The best way to control costs and prices is to increase competition between insurers and medical facilities. Eliminate the tight fisted government controlled insurance market and allow insurers to truly compete for customers.
    Adjust the "preexisting condition" rules.
    Typically an insurer looks at each insured as a whole. If that person has a pre existing condition, the insurer will wither set rates at very high levels or reject the applicant entirely. My idea is to have the insurer go ahead and write the coverage but place a rider on the preexisting condition only...So let's say Jane Smith is a breast cancer survivor. Instead of an insurer rejecting her outright, allow her coverage EXCEPT for the breast cancer. Then allow her to buy a high deductible policy for breast cancer.
    To me it doesn't make any sense for a guy with a surgically implanted knee to not be insurable if he gets pneumonia..The new knee didn't cause that..
    The system is broken. Government is not the way to go.
    Obamacare is a precursor to single payer which we all know does not work.
     
  9. rdean
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    rdean rddean

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    What lie?
     
  10. Zander
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    Zander Platinum Member

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    I am a responsible, self reliant person. I can handle any cards that life deals me. I don't expect you or anyone else to pay my way.

    PS- before Bankruptcy laws there were debtors prisons.....
     

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