According to a study conducted by researchers from Ohio University, Cambridge Hospital, and Harvard Medical School, sixty percent of bankruptcies in 2007 were the result of medical bill arrears. Since then, studies and statistics indicate that these figures have consistently increased. Some of them were exacerbated by the loss of income resulting from being unable to work due to the illness that caused the expenses in the first place.
This illness affected both persons with and without health insurance. Even those with health insurance were discovered to be grossly underinsured when it came to paying for necessary medical care. After the insurance funds ran out, these individuals were left with medical expenses averaging $17,500. Those without insurance were obviously hardest affected, with an average of just over $26,000 in medical bills.
According to the study, health insurance is almost always linked to employment. This is because of the expensive nature of customized plans. This meant that when a person lost their job due to medical issues, they frequently also lost their medical coverage, leading them to seek out a bankruptcy attorney to help them escape their overwhelming debt. During a time when the word """"recession"""" was on everyone's lips, many individuals had already lost their employment due to layoffs. The majority of these employers canceled their insurance plans within a year, with the majority doing so immediately.
While these findings appear to call for additional healthcare reforms, they also urge Americans to alter their diets and increase their levels of physical activity. By adhering to healthier living guidelines, the majority of illnesses and diseases are preventable. It is possible that eating more fruits and vegetables and less alcohol and fatty treats could not only lead to a longer life, but also prevent a visit to a bankruptcy attorney.
" - https://www.affordablecebu.com/
