Becker’s Hospital CFO Report: “Bankruptcy linked to medical debt remains common despite passage of the ACA, with two-thirds of debtor respondents citing it as contributing to their filing, a study published Feb. 6 in the American Journal of Public Health found.”
“The study, conducted by two physicians, two attorneys and a sociologist from the Consumer Bankruptcy Project, surveyed 910 people in the U.S. who filed for personal bankruptcy between 2013 and 2016. Researchers abstracted the filers’ court record data and mailed a questionnaire to them.”
“More than half of respondents (58.5 percent) ‘very much’ or ‘somewhat’ agreed that medical expenses contributed to their bankruptcy, and 44.3 percent cited illness-related work loss as a contributor. Two-thirds of respondents (66.5 percent) cited at least one of those two medical reasons, which researchers said represents about 530,000 medical bankruptcies annually.”
For more information on the issues surrounding medical debt, please contact RIP Medical Debt.