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Medical Bills Highest Cause of Bankruptcy for Americans


Medical bill costs are expected to place 1.7 million American households into bankruptcy in 2013, triumphing bankruptcy for credit card bills or mortgage payments. The drive to control healthcare spending causes many Americans to forfeit proper medication adherence. NBC Today reports:

Rising medical bills are expected to push 1.7 million American households into bankruptcy this year—making health expenses the single biggest cause of such filings, outpacing bankruptcies due to credit-card bills or unpaid mortgages, according to new data. Even having health insurance doesn't shield consumers against financial hardships.

NerdWallet Health, a division of the price-comparison website, analyzed data from the U.S. Census, Centers for Disease Control, the federal court system and the Commonwealth Fund, a private foundation that promotes access, quality and efficiency in the health-care system.

"Medical bills can completely overwhelm a family when illness strikes,” NerdWallet Health Vice President Christina LaMontagne said in a statement. She added that 25 million people hesitate to take their medications to control medical costs.

Read the full story here: http://on.today.com/1206bSc

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