Bankruptcy Lawyer Assists with Bankruptcy Due to Medical Bills

Many individuals and families are filing bankruptcy due to medical bills. If you are overwhelmed by medical bills, you are not alone. The Center for Disease Control released a report in 2012 that 1 in 4 American households are struggling with medical debt. Even households with public or private insurance are having trouble paying off medical debt. The research data demonstrates a growing number of households facing financial hardship due to medical bills. See the CDC report data below.

 

“Data from the National Health Interview Survey, 2012

• In 2012, more than one in four families experienced financial burdens of medical care.
• Families with incomes at or below 250% of the federal poverty level (FPL) were more likely to experience financial burdens of medical care than families with incomes above 250% of the FPL.
• Families with children aged 0–17 years were more likely than families without children to experience financial burdens of medical care.
• The presence of a family member who was uninsured increased the likelihood that a family would experience a financial burden of medical care.”
“Recently published data from the National Health Interview Survey (NHIS) found that 1 in 5 persons was in a family having problems paying medical bills, and 1 in 10 persons was in a family with medical bills that they were unable to pay at all.”
” More than one in four families experienced financial burdens of medical care.

• In 2012, 26.8% of families in the United States experienced any financial burden of medical care (Figure 1).
• Almost 1 in 6 families (16.5%) had problems paying medical bills in the past 12 months, 1 in 10 families (8.9%) had medical bills that they were unable to pay at all (a subgroup of those having problems paying medical bills), and 1 in 5 families (21.4%) were paying medical bills over time.
Figure 1. Percentage of families with selected financial burdens of medical care: United States, 2012

Percentage of families with selected financial burdens of medical care

Families with lower incomes were more likely to experience financial burdens of medical care.

• Those families with incomes at or below 250% of the federal poverty level (FPL) had the highest levels of any financial burden of medical care (Figure 2).
• The percentage of families having problems paying medical bills and the percentage of families with medical bills that they were unable to pay at all (a subgroup of those having problems paying medical bills) decreased with increasing family incomes.
• Families with incomes ranging from 139% through 250% of the FPL were most likely to have been paying medical bills over time.
Figure 2. Percentage of families with selected financial burdens of medical care, by poverty level: United States, 2012

Percentage of families with selected financial burdens of medical care, by poverty level

Families with children were more likely than families without children to experience financial burdens of medical care.

• One in three families with children (36.0%) experienced any financial burden of medical care (Figure 3).
• One in four families that included two or more adults with no children (25.2%) experienced any financial burden of medical care.
• One in five families with only one adult and no children (adults living alone), or 20.1%, experienced any financial burden of medical care.
• Families with children were more likely than families without children to experience problems paying medical bills, to have medical bills that they were unable to pay at all (a subgroup of those having problems paying medical bills), or to have medical bills that they had been paying over time.
• Adults living alone were less likely than families with two or more adults and no children to experience problems paying medical bills or to have medical bills that they had been paying over time.
Figure 3. Percentage of families with selected financial burdens of medical care, by number of adults and children aged 0–17 years in the family: United States, 2012

Percentage of families with selected financial burdens of medical care, by number of adults and children aged 0–17 years in the family

Families with an uninsured family member were more likely to have financial burdens of medical care.

• Families with a mixture of coverage types within the family and families in which some or all members were uninsured were more likely to have experienced any financial burden of medical care in the past 12 months than were families in which either all members had private insurance or all members had public coverage (Figure 4).
• Among families in which all members had private insurance or all members had public coverage, approximately 21% experienced any financial burden of medical care.
• Among families in which some members had private insurance and some members had public coverage, 35.8% experienced any financial burden of medical care.
• Among families in which all members were uninsured, 39.7% experienced any financial burden of medical care.
• Among families in which some members were insured and some members were uninsured, 46.0% experienced any financial burden of medical care.
Figure 4. Percentage of families that had any financial burden of medical care in the past 12 months, by family health care coverage status: United States, 2012

Percentage of families that had any financial burden of medical care in the past 12 months, by family health care coverage status

As outlined above, you can see the problems families are facing when it comes to paying for medical bills. The demand for medical bill payment is placing a strain on other financial obligations, such as credit card bills, utilities, and even grocery money. In some cases, your choice may be to make a medical bill payment or feed your family. In addition, the large payments required in most payment plans are not helping families find any relief. Robbing Peter to pay Paul is a sure sign you need some relief.

If you are facing a financial hardship due to medical bills, bankruptcy may be the right step for you. Shannon Wynn, Elkhorn bankruptcy lawyer, states, “Bankruptcy is a great option to relieve yourself of the financial burden brought about by medical bills. The bankruptcy code was created for individuals and families in these types of situations. Medical and hospital bills are not expenses people plan for. They are usually unexpected. Bankruptcy allows individuals and families a fresh start.”

There are different types of bankruptcy. Our Elkhorn bankruptcy lawyer will answer all your questions, guide you through the bankruptcy process, and qualify you for specific bankruptcy filings. If you would like to learn more about filing bankruptcy due to medical bills, please contact our Elkhorn bankruptcy lawyer for a free consultation. You can reach our Elkhorn bankruptcy law office by phone at 262-725-0175 or by email via our Elkhorn bankruptcy website’s contact page.

 

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*The content and material on this web page is for informational purposes only and does not constitute legal advice.

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