Dealing with Medical Debt
The number of American's who are unable to pay off medical debt has increased sharply over the last decade. Research by the American Journal of Medicine found that 62.1% of all 2007 bankruptcies were associated with the cost of healthcare. In fact, so many people need help paying their medical bills that it has led to the introduction of the financial term "medical bankruptcy". If you're unable to work due to health issues, it's very difficult to find a suitable way to pay your bills each month.
Diabetes and neurological disorders, such as multiple sclerosis, were the cause of the largest recorded debts. The average amount owed for these illnesses was $26,971 and $34,167, respectively. Almost half of those filing for medical bankruptcy did so due to hospital bills and 18.6% filed because of the cost of prescription drugs and medication. Just because you get the drugs or treatment doesn't mean that you can afford to pay for them.
A total of 77.9% of people filing for medical bankruptcy already had comprehensive health insurance before developing a life-changing illness. Perhaps more surprisingly, 60.3% had private coverage in place. Poor coverage and high deductibles to aid affordability were the most common reasons for the problems.
It isn't just low earners who urgently need help and assistance with their medical bills; two-thirds owned their own home and a further 60% had enjoyed a college education. Health problems can happen to anyone at any time, regardless of how well you look after yourself. It isn't as if you've wasted the money, you're just desperate to get well so you can be with your family. It's not like you have a choice in the matter.
It's less surprising to discover that unaffordable medical bills often coincided with a suddent change in personal circumstances. The most common problem was that the illness meant that the main breadwinner was unable to work. When your work is associated with your healthcare, you've got a problem if you become ill. When you're already over-stretched financially, there isn't enough disposable income to allow you to make it through the difficult times. Medical attention doesn't necessarily mean that you're well enough to work.
This section is dedicated to people who need help paying or eliminating medical debt. This ranges from help challenging hospital bills to different debt relief programs aimed at enabling people to get out of debt fast. No matter how bad things may seem, there's always a solution. 
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