Call Now!
Call Us 414-326-9231 608-260-7133 Text Us 414-326-4709
${site.data.firmName}${SEMFirmNameAlt}

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.

Unfortunately, it is only going to get worse. The PwC's Health Research Institute predicts that the cost of medical care will continue to rise at a rate of 6.5% in 2017. Employers are transferring these costs to employees. According to Kaiser Health, premium costs rose 3.4% between 2015 and 2016. What does this mean for American families?

Are you struggling with medical debt? You are not alone.

For many, rising medical costs have left them with crushing medical debt. Last year, the Kaiser Family Foundation/New York Times published results of a survey on medical debt that found revealed that one in five working people in the United States were struggling to pay their medical bills.

People struggled regardless of whether they were insured or uninsured. Of that insured group, those with high deductible plans were more likely to struggle than those with low deductible plans.

While most medical providers are often willing to work with individuals to set up a payment plan, for some individuals that may not be enough. What should you do?

Options for people struggling with medical debt

When finances are tight, people often dig into their nest egg, cashing in retirement or other financial reserves to cover costs, but that is often a mistake that they end up paying for in the long term when they need money as they are older.

Individuals struggling with medical debt in Wisconsin should consider talking with a bankruptcy attorney about their options. There are special rules for individuals pursuing bankruptcy whose debt is primarily composed of medical debt. An attorney will also be able to discuss possible bankruptcy alternatives with you.

No Comments

Leave a comment
Comment Information
Email Us For A Response

Free Case Evaluation

* indicates required field

Miller & Miller Law, LLC
  • VISA
  • Master Cards
  • Discover
Milwaukee Office map Madison Office map Kenosha Office map

633 W Wisconsin Ave, Suite 500
Milwaukee, WI 53203

Phone: 414-312-6581
Fax: 414-277-1303
Milwaukee Office

2810 Crossroads Drive
Suite 4001
Madison, WI 53718

Phone: 608-260-7133
Madison Office

6123 Green Bay Road
Suite 210
Kenosha, WI 53142

Phone: 262-326-1669
Kenosha Office

Appleton Office
4321 W. College Ave.
Suite 200
Appleton, WI 54914

Phone: 920-280-3838
Appleton Office

Brookfield Office
200 S. Executive Drive
Suite 101
Brookfield, WI 53005

Phone: 262-261-0665
Brookfield Office

Glendale Office
6001 N. Green Bay Avenue
Glendale, WI 53209

Phone: 414-973-8662
Glendale Office

Fax: 414-277-1303 - We also have offices in Appleton, Glendale and Brookfield to better serve you.