21 Apr Considering Bankruptcy To Get Rid Of Your Medical Bills? You Are Not Alone! (Part Four Of Five)
In Part Three, we discussed how the chronically ill, disabled and handicapped oftenhave a tougher time paying their medical bills than their healthier counterparts. Often a Chapter 7 bankruptcy can beused as a way to get rid of these bills and also can be a way to free up money to make health, vision, dental and disability insurance affordable.
Unfortunately, research has found that people of low to moderate income experience even greater difficulty in affording medical care and heatlh insurance.
Questions were asked of non-elderly individuals earning more than $75,000.00 per year, and individuals making less than $75,000.00 per year. Additional questions were asked of those that had Medicare benefits.
The results of this survey showed a significant difference in the percentage of individuals having money to pay for medical treatment.
- Ofnon-elderly adults earning less than $75,000.00 per year, 33% said there were many occasions when they did not have enough money to pay for medical treatment.
- When asked the same question, only 6% of those making more than $75,000.00 stated that they did not have adequate money to pay for medical treatment.
- A higher precentage of individuals,13%of those on Medicare,felt they lacked adequate funds to pay for medical treatment.
- When medical services were obtained by those of moderate to low income, 26% of insured non-elderly adults earning less than $75,000.00 per year reported having problems paying their medical bills, while only 5% of those making more than $75,000.00 and only8% of those on Medicare reported similar problems.
Insured lower to moderate income non-elderly adults also report a higher incidence of overdue medical bills than their higher income and Medicare counterparts.
Often, putting off medical care can make a minor health issue become a major, and sometimes irrevesable health issue.
Seeking the advice of an experienced consumer bankruptcy attorney could be a first step toward being able to afford health care.
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