This will make your blood boil
By Mike Moran
Updated Sat June 6, 2009
When I read this
the other day, I felt a tremendous sense of injustice:
"Medical problems contributed to nearly two-thirds (62.1 percent) of all bankruptcies in 2007, according to a study in the August issue of the American Journal of Medicine. Surprisingly, most of those bankrupted by medical problems had health insurance. More than three-quarters (77.9 percent) were insured at the start of the bankrupting illness, including 60.3 percent who had private coverage. Most of the medically bankrupt were solidly middle class before financial disaster hit."
Hardworking Americans with insurance going bankrupt due to illness? That is not right.
Pursuit to Algiers trailer As you read down through the report, you learn that "Hospital bills were the largest single expense for about half of all medically bankrupt families; prescription drugs were the largest expense for 18.6 percent."
The report mentions out-of-pocket expenses for "medical equipment" (but doesn't define it) as contributing in a very minor way to bankruptcy.
Those mainly responsible for the healthcare crisis in this country are hospitals, the insurance industry, big pharma and doctors.
The industry needs to hammer this home at every opportunity.
— Mike Moran
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