What's most likely to bankrupt you

Discussion in 'Healthcare/Insurance/Govt Healthcare' started by strollingbones, Jul 29, 2009.

  1. strollingbones
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    strollingbones Diamond Member

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    Medical problems caused 62% of all personal bankruptcies filed in the U.S. in 2007, according to a study by Harvard researchers. And in a finding that surprised even the researchers, 78% of those filers had medical insurance at the start of their illnesses, including 60.3% who had private coverage, not Medicare or Medicaid.

    Medically related bankruptcies have been rising steadily for decades. In 1981, only 8% of families filing for bankruptcy cited a serious medical problem as the reason, while a 2001 study of bankruptcies in five states by the same researchers found that illness or medical bills contributed to 50% of all filings.

    .............

    "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."

    What's most likely to bankrupt you - MSN Money


    friend has had two bouts with cancer....out of pocket that her good insurance didnt cover....over a million dollars
     
  2. Neser Boha
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    Neser Boha upgrade your gray matter

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    I think that's pretty much what Michael Moore's movie Sicko was about.

    Health insurance in USA is a big fucking joke.
     
  3. Skull Pilot
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    Skull Pilot Platinum Member

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    U.S. MEDICAL BANKRUPTCIES A MYTH; PERSONAL BANKRUPTCY RATE HIGHER IN CANADA

    in 2007, .27% of the population filed for bankruptcy.

    If 17% of the .27% were because of medical bill then,

    A WHOPPING .046% of Americans filed for bankruptcy due in part because of medical bills or 160,650 people out of 350,000,000

    so yeah lets saddle 349,839,350 with higher taxes for .046% (or .00046 out of every 100 people) for the bill. Doesn't sound like such a crisis when you look at it that way.

    it's cheaper to let them go through bankruptcy than to pass government run health care.
     
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    Last edited: Jul 29, 2009
  4. editec
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    editec Mr. Forgot-it-All

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    Where'd you get the 17%?

    Here's some interesting stats about bankruptsy filings in this nation

    http://www.uscourts.gov/Press_Releases/2008/bankrupt_newstat_ftable_jun2008.xls
     
  5. Skull Pilot
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    Skull Pilot Platinum Member

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    I posted a link Ed


    and really, what's so interesting about a spread sheet that only tallies the numbers with no footnotes as to why people were filing?

    the whole point here is that people are spouting that medical bill are the biggest reason people file for bankruptcy and it simply is not that big of a crisis in terms of the numbers.
     
  6. Neser Boha
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    Neser Boha upgrade your gray matter

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    You really don't get it do you?

    You don't consider it OUTRAGEOUS that ANYONE went through bankruptcy because of their inability to pay their medical bills despite the fact the have been paying for medical insurance? Seriously?

    I wonder how you'd feel about it if the tables turned and it happened to you (not that I wish that it happened to you, of course not).
     
  7. editec
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    editec Mr. Forgot-it-All

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    Interesting?

    I can only bring you the known data about filings.

    You'll have to find the interest in it.

    But it appears to me that about .75% of households are currently filing for bankrupsy annually now.

    That's down from 2005, of course.

    In 2005 people filed for bankruptsy at a high rate in order to file before the laws regarding how bnakruptsyies changed.
     
  8. Anguille
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    Anguille Bane of the Urbane

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    Some people complain that an 83 year old woman in Sweden was denied a medical procedure yet they seem to feel that inability to afford health care is a good enough reason to just let people die. :cuckoo:
     
  9. Skull Pilot
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    Skull Pilot Platinum Member

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    if you bothered to read the link i provided, you'd see the piece used data from 2006 and 2007
     
  10. Skull Pilot
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    why would I consider it outrageous that a person did not bother to educate him or herself about their insurance policies?

    God forbid a person actually read what they sign. Maybe a different policy would have been better or a second policy to fill the gaps of the first.

    But you'd rather blame everyone else but the people who didn't bother to actually think about their insurance.


    I never complained about some elderly foreigner getting or not getting anything.

    I have always said that people should be more responsible in their choices and shlould make an effort to educate themselves as to their situation so they can actually make informed decisions rather than trusting the government to look out for them.
     

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