On Behalf of developers | November 2, 2017 | Medical Debt
Student loan debt is not the only type of debt that causes millions of Americans to struggle. According to recent studies, medical debt has skyrocketed for countless individuals — to the point at which many avoid basic health care altogether. But sometimes crucial procedures are compromised. In addition to filing for bankruptcy, some patients experience added health issues as a result of financial crisis. Unfortunately, Mississippi is not exempt from these medical woes.
USA Today is one of many networks that has emphasized the dire situation of medical debt in America. According to research showcased in an article published earlier this year, more than a quarter of adults in the country face crippling medical bills. Many might assume that one too many shopping sprees is the root of personal bankruptcy, but medical debt has outnumbered even that of credit cards. USA Today goes on to share that medical debt is the number one source of personal bankruptcy, with 40 percent of Americans having accumulated debt as a result of various medical needs in 2014. Although insurance certainly provides security, it does not appear to solve this nationwide issue. Instead, some point toward emergency sevings accounts as beacons of light, should an unexpected medical need arise.
Adding to the statistics provided by USA Today, The Atlantic shows in an article that medical debt does not only affect low-income households, but also those who required a one-time emergency procedure. The article also provides a scope into the financial situations of a large majority of Americans, which prove problematic when any unexpected emergency comes about. More specifically, The Atlantic uses a study on medical debt to show that roughly 40 percent of middle-class families face the whopping expense of $1,500 due to various medical needs, taxes or car problems. What, many patients wonder, are the possible solutions? Some experts point toward making health care more affordable, but President Trump’s decision to roll back the Affordable Health Care Act could counteract those potential improvements.