Medical debt poses serious problems to consumers. When doctor’s bills and other treatment costs spiral out of control, it becomes challenging to get out of the cycle and regain stability. It can lead to credit card debt, can jeopardize a home, and can lead to consumers filing for bankruptcy.
Medical debt does not just affect those with low incomes or those who are uninsured. In fact, most people with significant medical debt have insurance and are caught off guard by uncovered expenses, situations that require cost-sharing or even monthly premiums that aren’t affordable.
To help gain insight into medical debt issues, particularly for those who are insured, the Kaiser Family Foundation conducted a study. They surveyed and interviewed some of our clients who had identified medical expenses as one of their primary struggles. In fact, 12 percent of our clients last year identified medical expenses as the primary or secondary cause of their financial distress.
The results of the study can prove useful for those who want to learn more about medical insurance and the dangers posed to consumers by medical expenses. Click below to access the report.
The Henry J. Kaiser Family Foundation
Medical Debt among People with Health Insurance | Download PDF