Insurance is Not Protection

There are millions of American citizens who are struggling in debt, and can't afford to pay for their hospital visits. This isn't a new obstacle in America. In fact, this has been going on for decades. The most upsetting part about this dilemma is that most of these people already have health insurance.

Maybe this is a cause of the continually increasing cost of medical care. Because of this consumers are tolerating with a greater share of their medical expenses. Higher deductibles, separate deductibles for hospital admissions, and the move to percentage-based "co-insurance' are parts of the additional cost-sharing.

This truly is damage on low-income family budgets, who can't afford medical care, as well as people who are suffering from multiple medical problems, and can end up paying much more than they can afford.

In 2003, 12.3 million people lived in families that couldn't afford paying their medical bills (about 1 out of 5 people). This was evaluated by the Center of Studying Health System Change. More recently, 57% of 77 million people who were struggling with medical bills were already insured. This was probably the cause of many hospitals not accepting medical insurance from their patients.

Many families simply can't pay their medical bills anymore, and have to file for bankruptcy, and ruin their credit scores. This happens so often that in 2001, research evaluated that half of the bankruptcy filings existed because of medical debt, and more than 75% of the filers were insured. Harvard study shows that many lost coverage during their illness.

If you do have health insurance, there are a few things you should know about to avoid a financial crisis, like in the cases above. One of the most important things you should keep in mind is fully comprehending your policy, how it works, and the limits of the policy. Another important tip is finding out beforehand if this hospital participates in the provider's network. And as for patients who are already in debt, it is best to consult the person who you owe the money to, and figure out a way to negotiate a reasonable, yet effective solution.