Infographic: The No. 1 cause of bankruptcy? Medical debt
The statistics here might surprise you.
With the rollout of the Affordable Health Care Act, it’s not surprising that more attention is focused on the health care industry and reform. As medical
bills continue to pile up for Americans, insured or otherwise, medical debt is driving families deeper into debt, and often into filing for bankruptcy.
Here’s some statistics that you need to know:
- People who lost their health insurance while still ill or still receiving treatment ended up owing 1.25 times more than people who didn’t have insurance
- Three of the top six health conditions that lead to the highest out-of-pocket costs were related to aging and obesity.
- Nearly 40 percent of households that already had medical debt were likely to avoid seeking out treatment, see a doctor, or get prescription medication,
even when needed.
To learn more, here’s information from National Debt Relief.