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This is the real reason most Americans file for bankruptcy



Bankruptcy filing is often considered a worse scenario.

While the results are consistent with past bankruptcy studies, the data also highlights a new key factor: whether the Affordable Care Act has reduced the burden of medical debt to people.

"Despite gains in coverage and access to care by the ACA, our results suggest that it did not change the percentage of failures with medical causes," says an article in the study published on the 39; American Journal of Public Health.

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The number of debtors who cited medical problems as a reason for their bankruptcy has actually increased slightly following the 39; implementation of the law: 67.5% in the three years following the adoption of the law against the previous 65.5%.

The perpetrator for the lack of improvement was inadequate health insurance, according to a co-author of the research, dr. David U. Himmelstein, a distinguished professor at Hunter College and founder of the Medical Attorney Group for a national health care program. [1

9659003] "Unless you're Jeff Bezos, people do not have very good alternatives, because insurance that is available and accessible to people, or that most employers provide them, is not a adequate protection if you are sick, "Himmelstein said. .

Most households do not save enough for a simple emergency, let alone thousands of dollars in unexpected medical costs. A recent study by the Bankrate personal finance website found that only 40% of Americans have enough savings to cover an emergency cost of $ 1,000.


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