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Medical Debt Archives

Rising medical costs and medical debt continues to drain American families

Americans continue to feel the weight of rising healthcare costs. The cost of obtaining healthcare is especially high for residents of Wisconsin. The cost of healthcare in the state is the second highest in the nation behind Alaska. The cost of 235 common medical services in Wisconsin was 81 percent higher than the national average.

Automatic stay provides relief for debtors from collection activities

Last time, we looked briefly at the increased incidence of medical debt collection litigation in states with low court filing fees. As we mentioned, debt collection litigation can be very difficult and disruptive to debtors, but it is something that can be addressed in the bankruptcy process.

Medical debt and bankruptcy: looking at the connection, P.2

Last time, we began looking at recent information gleaned from a poll conducted in Florida regarding the connection between medical debt, financial difficulties and bankruptcy. As we noted, even those with health insurance are not protected from financial hardship caused by medical debt and we know that bankruptcy is among the most common forms of debt cited in bankruptcy filings.

Medical debt and bankruptcy: looking at the connection, P.1

Medical care is considered a necessity, a basic cost of living, in the same way that food, clothing and shelter are consider basic needs. Unfortunately, medical care can be very costly, especially those who are still without insurance or who have high premiums and high deductibles. As many Americans have learned from difficult experience, though, even insurance doesn't guarantee protection against financial ruin induced by medical bills.

Negotiations may lead to lower medical debt obligations

Many people in Wisconsin are not prepared for the costs of medical procedures. While a visit to an emergency room can cost as much as $700, a hospital can charge up to $10,000 for labor and delivery of a baby, and thousands of dollars can be charged for surgical procedures. However, it is not common knowledge that these fees can be negotiated. The Commonwealth Fund conducted a survey that indicated that 64 million Americans are battling overwhelming medical debt.

Unfortunate reality: health insurance won’t necessarily prevent medical bankruptcy, P.3

We’ve been looking in recent posts at the issue of medical debt, and about addressing this debt in bankruptcy. As we noted last time, determining which form of bankruptcy is best for a medical debtor requires an examination of a variety of factors.

Unfortunate reality: health insurance won’t necessarily prevent medical bankruptcy, P.2

In our last post, we mentioned that medical bills are among the leading causes of bankruptcy, and that simply having health insurance doesn’t necessarily protect one from crushing medical debt. For those who do struggle with medical debt, bankruptcy can provide necessary relief. Obviously, debtors need to consider the consequences of filing for bankruptcy, but they should also realize that, at a certain point, bankruptcy is going to help improve their situation.

Unfortunate reality: health insurance won’t necessarily prevent medical bankruptcy, P.1

Health is wealth, the saying goes. Equally as true is the saying, health takes wealth. With the continually increasing costs of health care, health insurance is becoming more and more of a necessity. Fortunately, more Americans are purchasing health insurance as a result of the Affordable Care Act, which is allowing more people to receive the medical care they need.

Could medical debt drive you into bankruptcy?

Medical problems never come at a good time. You may have been planning a big vacation. Or worse, you may have been on vacation. One day, you don't feel well. You visit a doctor or go to the emergency room and they perform some tests. They determine you have an infection and prescribe some antibiotics. Your return home, but you do not really feel you are getting any better.

Medical debt often leads to bankruptcy

When you are healthy, you have two significant advantages over those who are not; you are able to work and earn a living and you have little or no medical expenses. But when you are injured in an accident at work, in a car accident or even a recreational accident, like falling while water skiing or hiking, that all changes.

Contact Our Milwaukee Law Firm

Reach Miller & Miller Law, LLC, online or call us at 414-326-9231 to schedule a free initial consultation. Our law office also provides Spanish language services. Se habla español.

To schedule an initial consultation, call 414-326-9231 or contact Miller & Miller today.

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