Unreimbursed medical expenses are one of the main causes of bankruptcy filings in the United States. To qualify for a Chapter 7 bankruptcy, also known as a liquidation bankruptcy, you must include all of your debts and creditors in your filing....
According to Harvard Law School Professor Elizabeth Warren, medical bills contributed to 62.1 percent of all bankruptcies in the United States in 2007. If you have a medical insurance policy with a high deductible or no medical insurance at all,...
Insurance has become the method by which most Americans have their health-care costs paid. By paying a regular monthly bill for health insurance, the cost of expected health care events is spread out into even payments and the cost of major...
Hospital bills can be a significant financial hardship for many people, especially those with inadequate or no health insurance coverage. According to a study led by Dr. David Himmelstein at the Harvard University School of Law, medical bills were...
Delinquent medical accounts can be reported to credit bureau and appear on your credit report. Although standard medical bills are often not reported to credit bureaus, outstanding bills deemed noncollectable by your doctor's office, hospital...
Medical care in America is costly, even for those with insurance. Leaving medical bills unpaid can have an adverse effect on your credit, leaving you paying higher interest rates on future credit for which you apply. You even face the possibility...
With the cost of health insurance rising annually, you may reach a point where you must decide if the premiums are worth the cost. Health insurance offers access to medical care that may be unaffordable without it. An unexpected injury could lead...
The cost of health care has become a growing problem in America. According to the National Center for Health Statistics, the United States spends more on health care than any other country, $7,129 for every American, and yet more than 46 million...
Universal health care can have a significant impact on your health and financial well-being. America spends a higher percentage of its gross domestic product on health care than any other country, according to the World Health Organization (WHO)....
An unexpected emergency or even routine medical care can leave you owing thousands of dollars in medical bills. For many individuals, a single trip to the hospital can result in financial ruin. A 2009 CNN Health report notes that over 60 percent...
Health insurance costs cause some families to question its importance. The high costs force some families to take the risk of going without insurance. For a healthy family, buying health insurance seems like a waste of money until an accident...
Debt is a financial obligation based on borrowed funds. You can incur monetary obligations to make large purchases such as a house, for medical services and for routine daily purchases. Debts can be accrued on a credit card, through formal loans...
In 2009, 15.4 percent of Americans did not have health insurance, the Centers for Disease Control found. This equals about 46 million people, more than 6 million of them children. People lack health insurance because their employer doesn't provide...
Health care insurance companies provide individuals or groups with insurance coverage in which they agree to insure you in return for payment of premiums. Individual health insurance plans can be more difficult to obtain because the insurance...
Bankruptcy is a way to eliminate certain categories of debt if you do not have the means to repay them. While you can file bankruptcy at any time, you should first determine if bankruptcy is in your best interest. Bankruptcy carries long-term...
If you are thinking about going into business for yourself in the United States, health insurance becomes a front-and-center concern. Employer group plans are still the gold standard of medical coverage. If you have an entrepreneurial streak that...
Supplemental insurance covers areas that the employer-provided or employee-purchased medical insurance plans do not. It is sometimes referred to as gap insurance. Supplements may include special areas such as major medial or dental, or may add...
According to Bankruptcy Action.com, the most common reasons for filing personal bankruptcy are loss of a job, credit that has become extremely overextended, divorce and health-related costs. A 2005 Harvard Study found that more than 50 percent of...
U.S. Census Bureau data showed nearly 48 million Americans were without health insurance in 2007, and nearly 7 million more people will lose their health care coverage by the end of 2010. According to Harvard Researchers, medical problems caused...
