Medical bills cause 60% of U.S. bankruptcies

[Chris]

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

 

[KittenKoder]

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.

 

[Fraulein Hilda]

Then bailout the bankrupt sick people and keep government the fuck out of my healthcare.

 

[Nik]

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.

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.

You have a severe case of the stupids and a irrational phobia of regulation.

 

[Fraulein Hilda]

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

Move to Canada, chump.

 

[Nik]

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

Move to Canada, chump.

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.

 

[Fraulein Hilda]

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?

 

[KittenKoder]

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.

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.

You have a severe case of the stupids and a irrational phobia of regulation.

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.

 

[Chris]

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.

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.

You have a severe case of the stupids and a irrational phobia of regulation.

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.

 

[Soaring]

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.

 

[Avatar4321]

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

This is a shape decrease from what you mentioned a month or so ago when you were claiming 150% of bankrupcies were due to medical bills. I would say we are making pretty good progress then.

Considering I currently have 2.5 major illnesses right now, have an incredibly crappy job, and yet am not near bankrupt, I would guss that there is probably more to reality than what your propaganda piece is letting us know.

 

[Avatar4321]

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.

Of course, we have to completely ignore the 70% tax rate in those country to pay for "cheap healthcare" to reach your conclusions.

But hey, why should we look at actual costs?

 

[oreo]

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.

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.

You have a severe case of the stupids and a irrational phobia of regulation.

The author of this post is correct. As an example-- I am a small business electrical contractor in the state of Colorado. Back in the late 90's our state legislature made a big mistake & regulated competition coming in--in order for small business to group together to get cheaper rates for their employees--like large corporations get. That regulation sent rates sky-rocketing overnight! Small business could no longer afford to cover their employees under a group policy. The only thing we could do was to pay out of pocket a sum amount to each employee for them to go & get their own private pay policy. Some employees chose to just keep the cash versus obtaining their own policies. We couldn't mandate it.

As we have recently witnessed--anytime the government works their fingers into the private sector--they always manage to screw it up.

Private pay medical insurance is on the way. It won't be FREE like many Obama voters expect. You will be mandated to cover yourself & your family. You will pay for it.

If you are an employee that already receives medical insurance paid by your employer--those benefits will show up on your income tax return as income that you will be taxed upon--so YOU too can pay for all the ones who cannot afford it.

Guaranteed this one will pass--it's coming!

You voted for it--you got it!

 

[Fraulein Hilda]

Like I said, the premise of this scam is a lie. Once people come up to speed on it, it will fail.

As it should.

 

[STAND4LIBERTY]

"
Medical bills cause 60% of U.S. bankruptcies"

yeah and ? what about the other 40% of bankruptcies, are you essentially saying "screw those people we're not willing to utilize force to plunder our fellow citizens to help you out" ? heck if you went all out you could reduce the medical induced bankruptcies by forcing more and more people to pay for said failures if only you'd have the courage to do so.

sheesh do financial realities land on planet "extreme leftie" every once in a while or what ?

 

[Fraulein Hilda]

"
Medical bills cause 60% of U.S. bankruptcies"

yeah and ? what about the other 40% of bankruptcies, are you essentially saying "screw those people we're not willing to utilize force to plunder our fellow citizens to help you out" ?

Well if the other 40% are, say caused by foreclosures, we know what all the government lip flapping about those has accomplished.

So do you trust government to deal with the other 60% of bankruptcies?

 

[STAND4LIBERTY]

Well if the other 40% are, say caused by foreclosures, we know what all the government lip flapping about those has accomplished.

So do you trust government to deal with the other 60% of bankruptcies?

You're not asking me that question in a serious way are you? I trust the gub'ment with notta, hell they can't even accomplish the simple task of protecting our liberties which is what the founders designed the institution for in the first place. The central gub'ment needs to do a lot LESS not more but since the lefties love to leech off the productivity of their fellow citizens using the brute force of the Federal Government I see little hope of this changing , until of course the finacial hand grenade explodes in all their faces .....

In which case I say, screw you collectivists I own a lot gold , go pick my cotton if you want some of it ..

 

[editec]

Friend on mine lost his leg last month in a motorcycle accident.


Eight surgeries later his current bill (he's still in the hospital, so it's still climbing) is hovering at about $700,000,

Neither his nor the other person who hit him has enough insurance to cover that expense.

So that's one accident, two private insurance companies covering it, and it STILL leads to two personal bankruptsies.

Okay now which of you market advocates who love the system we have right now could afford a $700,000 hit and not go broke?

Damned right health issues are causing most bankruptsies in this nation.

 

[Skull Pilot]

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

1.5 million is .5% of the population of the united states and 60% of .5% is .3% of the population of the united states.

OH MY FUCKING GAWWWWD!!!!

THIS IS A CRISIS OF BIBLICAL PROPORTIONS.

 

[American Horse]

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

Move to Canada, chump.

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.

So the Gov moves into a sector in which things are going smoothly, mandates, regulates, and subsumes it and causes great harm to that sector, removing almost all competition, and then moves to take it over to make certain that it operates fairly and efficiently into the future. We can expect something on a par to Amtrak as a reliable provider of services.
.