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Half of Bankruptcy Due to Medical Bills — U.S. Study

February 3rd, 2005 Leave a comment Go to comments

Yahoo! News – Half of Bankruptcy Due to Medical Bills — U.S. Study

Three cheers for our health care system! Now start praying you don’t get sick!

Fun facts in the article:

– Half of all U.S. bankruptcies are caused by soaring medical bills and most people sent into debt by illness are middle-class workers with health insurance.

– Medical bankruptcies affect about 2 million Americans every year, if both debtors and their dependents, including about 700,000 children, are counted.

– The average bankrupt person surveyed had spent $13,460 on co-payments, deductibles and uncovered services if they had private insurance. People with no insurance spent an average of $10,893 for such out-of-pocket expenses. (???)

I believe we could easily change our health care system for the better: Ban all drug companies from advertising directly to the consumers. Prescription drug costs have skyrocketed more than any other facet of our health care system, and while health care companies complain about their rising costs they continue to waste tens of millions of dollars every year on marketing campaigns (trust me on this one, marketing is my job right now). Why? Anyone can tell you that in most of these ads you can’t even tell what the drug is used for, let alone whether or not you should take it. That decision is up to your DOCTOR, you know, the person who actually makes it legal for you to take the drug.

End rant.

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