A study in 2009 linked medical costs and personal bankruptcy together. It is also worth mentioning that medical bills caused 62% of all personal bankruptcy in 2007 in the US, according to Harvard. The odd part of this study is what they found next. This is something that even the Harvard researchers found to be surprising. They found that 78% of the personal bankruptcies filers had medical insurance at the time of their illness. It gets better… 60.3% had Medicare or Medicaid.
These rates have been rising for years and years. In 1981, only 8% of families filing for bankruptcy cited a serious medical problem as the reason, while a 2001 study of bankruptcies in five states by the same researchers found that illness or medical bills contributed to 50% of all filings. The instructors and researches also found that the filers were for the most part solidly middle class before medical disaster hit. Two-thirds owned their home and three-fifths had gone to college.
Too many people think all medical bills are covered by insurance (once you meet your deductible-not true). Besides expanding health care coverage, we have to address the outrageous cost of health care. Not only is the cost of healthcare absolutely outrageous but so is the actual quality of care that you are getting (or in this case, the lack thereof). There have been many stories across the country regarding healthcare and citizens being misdiagnosed simply because the doctors wanted to get not only an inexpensive procedure in, but an expensive one.
When it comes to debating healthcare, Obamacare, and anything to do with finance and the well-being of our country, its best to use facts to come across the right conclusion rather than a knee-jerk reaction to it all. Politics aside, it should be taken with plenty of awareness that every motion any political party takes, there will be some opposition, of course. The only real importance is to know what is just a knee-jerk reaction to something you didn’t vote for, or an actual conversation worth escalating.
Most conservative and republican arguments against Obamacare are roughly cynical and a tad ridiculous. When you strip down the jokes, and cool it with the “Obama is a modern day Hitler” vamp, you can start to really communicate some valid arguments against liberals.
This article was written by Ronak Kallianpur. Ronak is a writer for Trigger Marketing Group, a Dallas Marketing Firm. Follow him on Twitter, Instagram, and check out his music on Soundcloud. Follow his personal blog here.