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 Diagnosing the Causes of AMEDICAL 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 DEBT more credit card debt in order to cover their health care costs |R 56 million Americans will struggle with health-care related bills. (That's 20% of the population between 19-54) The average amount a person in medical debt owes... Those who lost insurance With insurance: Without insurance: during their illness: $17,749 $26,971 $33,568 What's causing such HIGH MEDICAL BILLS? IN A 2007 STUDY BY THE AMERICAN JOURNAL OF MEDICINE, THE LEADING EX OF MEDICAL DEBT INCLUDED: 18.6% Prescription drugs ..... ..... ...... .... ..... ..... ....... .... .... .. .... 15.1% Doctor's Bills .... .... .. EMERGENCY 48% Hospital costs 4.1% Insurance premiums 14.2% Others 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% 57% 56% 46% 43% Visits to the doctor Emergency Dental Prescription medications Hospital stays room visits expenses HEALTH CONDITIONS THAT CAUSE HIGH OUT OF POCKET EXPENSES: = $5,000 Mental Illnesses Stroke $23,380 Cccco $23,178 Personal injuries Heart disease $25,096 coceco $21,955 cccco Neurological conditions like MS $34, 167 cocceo Diabetes $26,971 ceccco Surgeries Are cAnother 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,* Hip Transplant $30,640 Gastric Bypass Heart Transplant $24,710 $997,700 Kidney Transplant $262,900 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 fill a prescription 39% not 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 qualify for help from financial aid offices or charity departments within a healthcare facility SOURCES: www.cnbc.com/id/100840148 www.healthcarebluebook.com debtmovement.com/how-to-avoid-medical-debt-disaster/ www.demos.org/sites/default/files/publications/PlasticSafetyNet-Demos.pdf www.transplantliving.org/before-the-transplant/financing-a-transplant/the-costs/http://well.blogs. nytimes.com/2009/06/04/medical-bills-cause-most-bankruptcies/?_r=0 download.journals.elsevierhealth.com/pdfs/journals/0002-9343/PHS0002934309004045.pdf BROUGHT TO YOU BY: IN PARTNERSHIP WITH: NATIONAL DEBT RELIEF– GRYFFIN MEDIA %24