Data shows medical debt a huge factor in American bankruptcies
Ever-increasing medical costs, coupled with the nation's high unemployment rate for the last several years - something that has indirectly contributed to the medical debt crisis, as many people lost health insurance coverage along with their jobs - has led many households to the brink of financial ruin. Data released by the American Journal of Medicine and the National Patient Advocate Foundation shows that more than 60 percent of America's individual bankruptcy filings are due to excess medical debt.
Interestingly, more than 70 percent of those filers had health insurance, ...