Uninsured patients are charged multiple times the normal price of any medical service without any justification. Approximately 41.2 million Americans who are uninsured must tolerate this injustice and be victims of financial disaster which is reliably causing about 50 % of bankruptcies.
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Most people are surprised to find that of the estimated $1.5 million bankruptcies that will be filed this year, 62% of them will be the direct result of medical issues. Even more surprising is the fact that of those filing for medical bankruptcy, over 80% actually had medical insurance.
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President Obama has pointed to the number of people that file bankruptcy due to medical bills, stating that these people were either under insured or uninsured. This was one of the reasons he gave for the need for a standardized national health care system similar to Canada’s.
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It is estimated that somewhere around 1.5 million people will file bankruptcy by the end of the year. More than half of these will be drowning in medical bills.
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Catastrophic illnesses are claimed to have triggered approximately half of all personal bankruptcies in the United States. According to recent findings from a Harvard University study, most people who go bankrupt because of medical problems also have health insurance. Researchers found that many private insurance plans that offer limited catastrophic coverage were inadequate and offer [...]
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