15 Apr Considering Bankruptcy To Get Rid Of Your Medical Bills? You Are Not Alone! (Part Two Of Five)
In Part One of this article we learned that many Americans, whether or not they had health insurance, had experienced problems paying their medical bills.
Many bankruptcy clients cite medical bills that were either not covered by insurance, or deductibles and copays on those bills, as the reason why they are considering bankruptcy.
But how does this problem finding the money to pay medical bills affect their access to health care?
- 28% of Americans said that during the year of this study there had been at least one instance where they did not have enough money to pay for health care or medical treatment, and of that 28%, 62% had health insurance;
- 29% of Americans stated that either they or a family member had skipped medical treatment, reduced their medication intake below the prescribed dosage, or decided not to fill a prescription due to lack of money; and,
- 16% of Americans stated that they had tried to purchase insurance on their own, only 31% of them were able to do so. Of the 69% of those that didn’t get insurance the main reason cited was the cost.
Many times I have met with clients that have given up health, dental and visioninsurance, life insurance,and short term and long term disabilityin order to pay credit card bills.
A bankruptcy can help free up money for health insurance, and the government wants you to have insurance.
In fact, the government wants you to have insurance so much that if you decide to file for bankruptcy, you can include the cost of health insurance for you and your family even if you are not currently paying for health insurance when calculating your disposable income from purposes of the means test.
At times, the addition of health insurance to a calculation of disposable income can be the difference in whether an individual can qualify stay out of a Chapter 13 bankruptcy.
Part Three of this article will examine how Americans with chronic health problems are affected by health costs.
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