Unemployment rates have increased, property no longer has value in it and this is what many individuals rely on in a financial crisis. Bankruptcies are happening all over the place and incidences of both these and foreclosure are at an all time high. Over the same period in last year, bankruptcies have actually enlarged by 34. 5%.

What is even more surprising is the fact that the American Journal of Medicine has released outcomes from a study by Harvard Medical School and the Cambridge Hospital, which says almost flatly that high medical costs have been the reason why many people have had to file for bankruptcy. We have also heard it mentioned that several people losing their houses to foreclosure have been laid low by sickness and extensive medical charges.

Harvard Law School and Ohio University have also introduced the fray and figures testify that as many as 60% of bankruptcies in 2007 were filed because of illness and medical related bills which had to be paid. That the high price of medical treatment could bring about such a economic disaster is sinful.

This is a socio-economic catastrophe waiting to happen. But you know the powers that be? So now matters are getting more out of hand and a national survey was directed by these respectable US halls of learning. 2,314 random samples were used of 2007 bankruptcy filings. These samples are what went to the above results. Court papers were investigated and individuals personally interviewed, and found to have had themselves declared bankrupt for medical causes. In comparison to 2001, the 2007 figures had risen by 60%!

People who have health insurance 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 climbing pile of unpaid medical bills. Lots of these medical bills are several thousands of dollars.

Medically bankrupt people loosely have an average amount of $18 000 remaining on their treatment fees, and this is the health insured portion of bankruptcies. The un-insured portion of individuals filing away for medical bankruptcy owe an average of $27,000 in out of pocket expenses.

Almost all health insurance is related to employment, if an illness can trigger both the loss of a job and health insurance coverage, that someone is quite plainly in really deep trouble, what on earth have we done to be going through a state of affairs such as this?

Nowadays it is really tough to discover the most affordable health coverage, if you would like more assistance in this affair then you should stop by Janet’s webpage which explains medical insurance plans information.

Health Insurance Programs – Rather Be Safe Than Sorry is a post from: Health Nutrition

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Get Health Insurance Quotes Online is a post from: Health Nutrition