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(USGovernment-News.Com, July 18, 2013 ) Albuquerque, NM -- The number of bankruptcies resulting from the unpaid medical bills of patients has reached nearly 2 million individuals per year. That tally makes it the most systematic reason for filing bankruptcy. It now outpaces the filing due to credit-card bills or unpaid mortgages, according to new data released by NerdWallet Health.
The data was compiled by the division of the price-comparison website analyzed data from the U.S. Census, Centers for Disease Control, as well as the federal court system and Commonwealth Fund. The latter of which is a promoter of access, quality, and efficiency in the healthcare system.
"A lot of Americans are struggling with medical bills," said NerdWallet Health Vice President Christina LaMontagne.
NerdWallet currently estimates household which hold 1.7 million individuals file for bankruptcy protection on a per-year basis. Even those outside of the bankruptcy totals are struggling with health-care related bills year upon year. That constitutes nearly 20% of the U.S. Population, or 56 million in total.
It was found within the data that it is not merely those without health insurance who face the financial hardships of medical care. NerdWallet estimated that over 10 million individuals who possess year-round coverage accumulate bills that they are unable to pay off.
"With an average American family bringing home $50,000 in income, a high medical bill and a high-deductible insurance plan can quickly become something they are unable to pay," LaMontagne said. "If you have an out-of-pocket maximum of $5,000 or $10,000, that's really tough," he said.
When it comes to fixes to the problem, some hope the Affordable Care Act (Obamacare) will fix the problem. NerdWallet's data seems to indicate that the totals of burdened individuals is not likely to go away with the complex system coming down the pike.
"I don't think Obamacare is going to get rid of the situation," LaMontagne said. "The data suggests that already-insured Americans are struggling. With the expansion of insurance, it doesn't seem like that problem will go away entirely. It's not a panacea."
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