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Diagnosing the Causes of Medical Debt in the US

Diagnosing the Causes of

MEDICAL DEBT IN THE US



UNPAID MEDICAL BILLS ARE NOW THE #1 REASON PEOPLE ARE FILING FOR BANKRUPTCY.



WHAT'S THE CAUSE OF THESE STAGGERING NUMBERS?



The Realities of MEDICAL DEBT



1.7 million people will be forced to file for bankruptcy due to medical debt



Over 11 million Americans will burden themselves with more credit card debt in order to cover their health care costs



56 million Americans will struggle with health-care realted bills.(That's 20% of the population between 19-54)



The average amount a person in medical debt owes...



With insurance:$17,749

Without insurance:$26,971

Those who lost insurance during their illness:$33,568



What's causing such HIGH MEDICAL BILLS?

IN A 2007 STUDY BY THE AMERICAN JOURNAL OF MEDICINE, THE LEADING EXPENSES OF MEDICAL DEBT INCLUDED:



18.6% Prescription drugs

15.1% Doctor's Bills

4.1% Insurance premiums

14.2% Others

EMERGENCY

48% Hospital costs



By 2012,

A STUDY CONDUCTED BY DEMOS.ORG FOUND THAT AMONG INDEBTED HOUSEHOLDS,62% CITED OUT-OF-POCKET MEDICAL EXPENSES AS A CONTRIBUTOR TO THEIR DEBT.OF THESE EXPENSES,THE HOUSEHOLDS CITED DEBT FROM:



15.1% Emergency room visits

57% Dental expenses

56% Prescription medications

46% Hospital stays

43% Visits to the doctor



HEALTH CONDITIONS THAT CAUSE HIGH OUT OF POCKET EXPENSES: =$5,000



Stroke $23,380

Mental Illness $23,178

Personal injuries $25,096

Heart disease $21,955

Neurological conditions like MS $34,167

Diabetes $26,971



Surgeries Are Another major Cause of High Costs



Intestine Transplant

Currently the most expensive surgery on the market, this procedure could put you back over $1,206,800.*



Heart Transplant

$997,700



Kidney Transplant

$262,900



Hip Transplant

$30,640



Gastric Bypass

$24,710



Angioplasty

$27,170



*Estimated average costs:the cost of any surgery varies from region to region,even hospital to hospital.



Dealing with MEDICAL DEBT OF HOUSEHOLDS CURRENTLY IN MEDICAL DEBT...



33% delayed or did not fill a prescription

39% did not go see a doctor for a medical problem

36% skipped a medical test or treatment



WHAT CAN YOU DO TO HELP MANAGE YOUR MEDICAL DEBT IN A SAFE WAY THAT WON'T PUT YOUR HEALTH AT RISK?



If you pay in full,you might be eligible for discounts

Be aware that you CAN negotiate with healthcare providers

Consider seeking help from a debt settlement provider, who can also help you negotiate your debt

If you don't have health insurance,there are government programs which can help reduce your medical bills

You might quality for help from financial aid offices or charity departments within a healthcare facility

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Diagnosing the Causes of Medical Debt in the US

shared by gryffin on Sep 19, 2013 in Economy

Diagnosing the Causes of Medical Debt in the US

shared by gryffin on Sep 19, 2013 in Economy

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Unpaid medical bills are now the #1 reason people are filing for bankruptcy. What's the cause of these staggering numbers?
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