WebKey Statistics. 23 million Americans (7% of the population) have significant medical debt, with most owing over $1,000.; 500,000 families per year experience medical bankruptcy due to unpaid medical bills.; The estimated total medical debt across the U.S. is $195 billion.; The average medical insurance premium for an individual in the U.S. is $438 per month, … WebFeb 7, 2024 · About 530,000 American households continue to see their finances wiped out each year due to medical costs, according to the report, which was published in the American Journal of Public Health. "Unless you're Bill Gates, you're just one serious illness away from bankruptcy," said Dr. David Himmelstein, the study's lead author.

Medical Bills: The Leading Cause of Bankruptcy in the United States

WebAug 15, 2024 · In most cases, those filing for bankruptcy come from the lower end of the income ladder. Of elder households that filed for bankruptcy in 2016, 78% made less than median total income.... WebMar 26, 2024 · If medical bills really were driving so many people into bankruptcy, then we would have expected filings to plummet after 2013, when millions of people gained health insurance coverage. dhp sola futon with storage black

Annual Bankruptcy Filings Fall 29.7 Percent - United States Courts

WebFeb 19, 2024 · Common reasons that people file for bankruptcy include loss of income, high medical expenses, an unaffordable mortgage, spending beyond their means, or lending … WebMedical debt has been the leading cause of American bankruptcy for years. In 2013, a CNBC report revealed that unpaid medical bills would affect the finances of two million people in one year. Even of those who do not file for bankruptcy, an estimated 56 million adults will suffer in some way because of medical expenses, which accounts for more ... WebAug 28, 2024 · Sanders’s statements — “500,000 people go bankrupt every year because they cannot pay their outrageous medical bills” and “500,000 Americans will go bankrupt … cinch payroll contact