New Harvard Study: Medical bills make up half of bankruptcies /Study finds most filers had insurance
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AP via MSNBC
BOSTON — Costly illnesses trigger about half of all personal bankruptcies, and most of those who go bankrupt because of medical problems have health insurance, according to findings from a Harvard University study to be released Wednesday.
Researchers from Harvard’s law and medical schools said the findings underscore the inadequacy of many private insurance plans that offer worst-case catastrophic coverage, but little financial security for less severe illnesses.
“Unless you’re Bill Gates, you’re just one serious illness away from bankruptcy,” said Dr. David Himmelstein, the study’s lead author and an associate professor of medicine. “Most of the medically bankrupt were average Americans who happened to get sick.”
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Most were insured
Most of those seeking court protection from creditors had health insurance, with more than three-quarters reporting they had coverage at the start of the illness that triggered bankruptcy.
http://www.msnbc.msn.com/id/6895896/#.T0Hl85jwwTA
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We really need to revisit healthcare as soon as we re-elect the President. Public option minimum. Medicare for all better.
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