April 16th, 2008
Health Insurance Bankruptcy - A Common Dilemma
Medical bills are the leading cause of bankruptcy, according to a Harvard University study, which also showed that more than 75% of those who declared bankruptcy because of mounting medical bills had health insurance at the start of their illness.
These days, the word “insurance” may be a misnomer. Health care coverage no longer insures that the bulk of your medical costs will be paid. The safety net that medical insurance provided in the past has become riddled with holes so large that many people are falling through, leaving them nearly as vulnerable as those without insurance. These people are considered underinsured.