Medical Insurance Plans Are Critical For Everyone In The US
By Janet Gemstist | September 8, 2009
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Most insurance buys are seen to be grudge purchases, however you may look at it health coverage plans are an absolute essential. The economy has hit the United States very hard and unemployment is high. Retirement accounts are hardly worth the paper they are written on and houses are being foreclosed upon.
Unemployment is high, bankruptcies are at and all time high, along with foreclosures. Home owners have no value in their property to fall back on because property values are at and all time low, and if you look at last years bankruptcy figures, these have increased by 34. 5% for the same period of time.
What is even more surprising is the fact that the American Journal of Medicine has released results from a study by Harvard Medical School and the Cambridge Hospital, which tells almost categorically that high medical costs have been the reason why many people have had to file for bankruptcy. We have also saw it cited that many individuals losing their homes to foreclosure have been laid low by unwellness and extensive medical charges.
Enter another 2 schools into the scratch, Ohio and Harvard Law School. These schools have set up research which categorically says 60% of bankruptcy recordings in 2007 were induced by people being unable to afford to pay bills for medical treatment. It is already bad enough that the cost of medical treatment is so high, but for people to have been brought so low by it is an even greater curse.
This is a socio-economic tragedy waiting to occur. But you know the powers that be? So now matters are getting more out of hand and a open survey was conducted by these respectable US halls of learning. 2,314 random samples were used of 2007 bankruptcy filings. These samples are what led to the above results. Court papers were looked into and people in person interviewed, and determined to have had themselves declared bankrupt for medical causes. In comparison to 2001, the 2007 figures had risen by 60%.
People who have medical coverage also still have to file for bankruptcy as they get life threatening illness, because they are under-insured. When this happens they are left with a mounting pile of unpaid medical bills. Lots of these medical bills are many thousands of dollars.
When the study looked at medically bankrupt cases, most regular insured individuals still owed as much as 17,000 for medical treatment. Of the uninsured group the average out-of-pocket expenses was more than $26,000.
Health insurance is related to employment and vice versa, so when a individual becomes ill they may lose both their policy and their line of work. This is a serious problem and it is something we should all be concerned about.
Nowadays it is really tough to find the most affordable health coverage, if you would like more help in this matter then you should stop by Janet’s webpage which explains medical insurance plans information.
Topics: HEALTH | No Comments »
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