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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...
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
48% Hospital costs
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
Mental Illness $23,178
Personal injuries $25,096
Heart disease $21,955
Neurological conditions like MS $34,167
Surgeries Are Another major Cause of High Costs
Currently the most expensive surgery on the market, this procedure could put you back over $1,206,800.*
*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