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Health Insurance
Illness and Medical Bills Linked to Nearly Two-Thirds of All Bankruptcies
June 21st, 2009
Medical problems contributed to nearly two-thirds (62.1 percent) of all bankruptcies in 2007, according to a study in the August issue of the American Journal of Medicine that will be published online Thursday. The data were collected prior to the current economic downturn and hence likely understate the current burden of financial suffering. Between 2001 and 2007, the proportion of all bankruptcies attributable to medical problems rose by 49.6 percent. The authors' previous 2001 findings have been widely cited by policy leaders, including President Obama. Surprisingly, most of those bankrupted by medical problems had health insurance. More than three-quarters (77.9...
Source: Pharma Investments, Ventures & Law Weekly (2009-06-21)
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