The tremendous impact of medical debt on the lives of US citizens

The tremendous impact of medical debt on the lives of US citizens

Many US citizens are without medical insurance

According to well recorded statistics the number of US citizens without any medical insurance has decreased by 15 million in only 2 to 3 years. Many is ascribing this decrease to the positive effects of the affordable care act. Unfortunately this simply does not seem to be enough because according to another research project relating to US citizens struggling with medical debt, seems to be indicating very clearly that health insurance in the US is often providing very limited benefits to those who are ensured. Most of the health insurance programs in the US require members to pay very large out-of-pocket payments sometimes amounting to thousands of dollars and this situation is placing an increasing burden especially on households who are living on the bread line with no additional resources to fall back on and who are therefore defenseless against increasing medical debt. An increasing number of people who may require medical care are discovering to their shock and surprise that even with health care coverage there are no guarantees that they will enjoy secure financial lives without debilitating medical debts. Some people who have been healthy all their lives suddenly develop very serious chronic illnesses which could very quickly cause a dramatic increase in the amount of healthcare which they may require which in some cases could lead to a loss of employment and before they know they are inundated with medical debts.

Medical debt is the reason for over 70% of bankruptcy filings

As soon as your health situation deteriorate the medical debts starts to increase and thousands of people lose their homes because they can no longer cope with their deteriorating financial situation. This is placing people with chronic illnesses or even terminal health conditions in a very difficult situation because they have to go on with their lives but with the cost of living on top of their medical situation especially in the light of increasing medical debt is making their situation seem hopeless. Many are left with no other choice but to depend upon family and friends to help them out and sometimes this can place a tremendous amount of strain on those relationships leading to additional problems which can even lead to more trauma in the lives of people which already have so much to cope with. There is ongoing research projects which is looking into the issue of healthcare in the US and the resulting medical debts which is incurred by people who are dependent upon healthcare. This has a revealed that 20% of working class people who have some form of medical insurance is still struggling with the payment of their medical debts. Surprisingly among people with no health insurance at all only 53% were complaining about having problems with the payment of medical debts. This should surely point to huge problems with in the US health insurance industry. Something is simply not right and people who already struggling with serious medical problems is further traumatized by the current situation in the medical insurance industry.

US citizens have to look after their own

Absolutely anyone could fall victim to some kind of serious illness which then will require expensive medical care and this could result in huge amounts of medical debt which could seriously impact the financial well-being of any US citizen. Every US citizens could potentially become vulnerable and the irony of the matter is that the US is not a good place to become sick because healthcare costs in the US is twice as expensive as those in any other developed country. This is despite the fact that the level of healthcare in the US is only 37th on the list of those which is obtainable in any other country in the world. How has this happened that a country of the stature of the US with the infrastructure and the GDP which is enjoyed by this country has deteriorated to the point where many US citizens are suffering on a daily basis under the scourge of medical debt? It has become time for US citizens to ask serious questions from government regarding healthcare costs and the resulting medical debts in the US today. How is it possible that country such as Canada, Switzerland and even Cuba is able to provide their citizens with medical care which is equal to those which could be obtained in the US, however at much lower cost? These issues relating to healthcare cost and the resulting medical debts is something which has to be debated by the Senate and an effective solution has to be found in order to relief the burden of medical debt on all US citizens.