Too many mistakenly think they are FI by failing to account for HCC (inc HI, deductibles,copays, etc.). Most recent survey of US bankruptcies again finds medical bills as #1 cause.
Medical Bills Are the Biggest Cause of US Bankruptcies: Study
Interestingly the largest proportions were in the 35-54 age groups. I might have thought it would be 55-64 AG, i.e. AG @ statistically poorer health but not yet on Medicare (inc growing # of ER's who are losing corp retiree HI coverage). Also troubling to me is that many (according to this study) are paying big medical bills using CC's. Adding high-interest CC debt to one's medical bills seems like a prescription for financial ruin. Most HC facilities/providers' billing offices will work with patients to develop payment plans on much more favorable terms than ave CC company.
Medical Bills Are the Biggest Cause of US Bankruptcies: Study
Interestingly the largest proportions were in the 35-54 age groups. I might have thought it would be 55-64 AG, i.e. AG @ statistically poorer health but not yet on Medicare (inc growing # of ER's who are losing corp retiree HI coverage). Also troubling to me is that many (according to this study) are paying big medical bills using CC's. Adding high-interest CC debt to one's medical bills seems like a prescription for financial ruin. Most HC facilities/providers' billing offices will work with patients to develop payment plans on much more favorable terms than ave CC company.