I don't doubt that could be true, but I'd sure like to see some statistics. I've only anecdotal evidence, but I've mostly seen people who live consistently above their means (rent money on credit cards) and then can't make it through a relatively minor shock to their system (short period of unemployment, car accident (no injuries), etc.).
If it's true that most bankruptcies are based on medical bills, then maybe the law should address those cases separately.
And it is a shame that those people didn't get the help they needed from the medical establishment in dealing with those bills.
Unfortunately for me I have found myself in a difficult situation for over a year. I took a $7@hr. job a Christmas just to stop the bleeding of my finances. Now I find myself needing major medical surgery...I called the hospital and they can discount the hospital portion by 30% or more depending on my finances(can earn up to 400% above poverty level too). I was smart and stashed away for a rainy day. I can cover this major expense, but if it were open heart surgery...there's no way I'd be able too.
I had carried catastrophic medical, but when I had to use it...they refused to pay it. I fought for over 6 months to get a $5,000 ER bill payed. I finally just gave up and paid the dang thing! Again, from the rainy day fund and cancelled the worthless catastrophic insurance plan.
Those filing bankruptcy didn't stash away for the rainy day whether it is medical bills, or repairs for the car, or replacing the refridgerator etc. Although at the rate I am going I may find myself tapped out on my rainy day fund too.
There are brighter horizons in store for 2006 for myself. Getting through this medical challange right now is just a bump in the road. Or as it was once said...You can take all my money etc. away from and in less than 5 years I'll have it all back again. Or something to that effect. That's the difference between us.
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78% of statistics are made up on the spot.
Yes, and the GOP flatly rejected ANY medical exemption. Even if the person can prove they lost everything because of the catastrophic situation. A profile in cowardice by the GOP, in servitude to MBNA and their campaign cash.