6 Dec 2024 5:32 pm
I have repeatedly searched at times over the years when this debate comes up. I have never found any data on how many people with health insurance file bankruptcy.Mrkelly » 06 Dec 2024, 5:03 pm » wrote: ↑ That’s the problem
people WITH insurance are filling bankruptcy too
Also, even the authors of one of the most often cited studies on the topic admit using their data to make conclusions on specific reason is flawed. Since there is no way to know, other than having medical debt as the ONLY debt in a filing, what caused the person to file bankruptcy. Even though listed debt is in descending order of total, it is erroneous to assume any one debt is the reason for the filing. The may have encountered significant medical debt AFTER spending a lifetime accumulating debt in many other forms. However, if medical debt is one of the top listed items it is included in a total of bankruptcies "due to medical debt."
Profit is not evil. Companies need profit to survive. Anyone can point to a few anecdotal examples and cry "See...I told you." In my life, I have had three stays in the hospital lasting more than a week. Two directly related to my heart issues and one after a near fatal car accident. All three resulted in a total bill in excess of $400,000. I have never had care denied by an insurance company. Besides, even when someone files bankruptcy, the debts don't magically disappear. They are paid by others in the form of higher premiums, higher cost and higher interest rates.
Some people simple never come to understand the truth behind TANSTAAFL!