Some Frigid Facts
If you think challenges that health care system is facing today are not your problem, think again…..
1. According to one research, 50% of bankruptcies filed in the US were due to medical causes. 75.7% of those that filed bankruptcy due to medical causes had insurance at the onset of illness. Even middle class families often fall prey to financial catastrophe, when sick.
2. In 2004 (the latest year data are available), total health care spending represented 16 percent of the gross domestic product (GDP). This is expected to increase at similar levels for the next decade reaching 20 percent of the GDP in 2015.
3. More than 25 percent, according to a survey said that housing problems resulted from medical debt, including the inability to make rent or mortgage payments and the development of bad credit ratings
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1. According to one research, 50% of bankruptcies filed in the US were due to medical causes. 75.7% of those that filed bankruptcy due to medical causes had insurance at the onset of illness. Even middle class families often fall prey to financial catastrophe, when sick.
2. In 2004 (the latest year data are available), total health care spending represented 16 percent of the gross domestic product (GDP). This is expected to increase at similar levels for the next decade reaching 20 percent of the GDP in 2015.
3. More than 25 percent, according to a survey said that housing problems resulted from medical debt, including the inability to make rent or mortgage payments and the development of bad credit ratings
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posted by kc at 2:49 PM
1 Comments:
We faced this same issue 5 yrs ago. We had insurance, but the costs where so high for even our part that we had to decide what could and couldn't get paid.
I can't help but wonder if the government can do more. MY Thoughts on this is the costs are so high because people are sueing left and right. The government allows this and there is no cap or no reasonable cap. I can understand if a person lost a life or something horrible happened. But people threaten all the time and most times it is settled. Because of those costs that are incurred by Drs and hospitals, who do you think the costs are being passed on to? Us!
If medical care wasn't so out of the realm for the average person and there was more preventative care, then I think that there would be less bankrupcies. If you have to wait till you are on deaths door to go to the Dr and can't afford to go when things could have been prevented, then the cost of treatment is much higher and costs the insurance company more and the hospital, drs and others more because patients can't afford to pay for thier care.
Many say we are blessed to live in the USA, and I think we are, but I also think we have one the highest costs for medical care. It's terrible when you have to decide to get help or just wait it out. I have known many in this situation and they can't even afford to think about getting help.
Now there are some really compassionate Drs and health care providers out there that will do anything they can to help with keeping those costs down, but not sure if and when it is gonna be reasonable.
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