Study: Americans with medical debt hits 100M, nearly 20M

[Werk 13,166]

An estimated 100 million people in the U.S. — 41% of all adults — have healthcare debt.

Medical treatment generally has no predictable upfront price and, there is no cap on what we might owe. And, given our health system’s prices, the amount can be more than the value of the family home if incurred for a hospital stay.

Think about how different educational debts are from those incurred in healthcare. In one case, profiled by Kaiser Health News, the parents of twins, who were born at 30 weeks, faced out-of-pocket bills of about $80,000 stemming from charges in neonatal intensive care and other care that insurance didn’t cover. In another case, a couple ended up owing $250,000 when one spouse went to the emergency room with an intestinal obstruction that required multiple surgeries. They had to declare bankruptcy and lost their home. Even smaller bills lead to trashed credits ratings, cashing in retirement accounts and taking on second jobs; in surveys, half of adults in the U.S. say they don’t have cash to pay an unexpected $500 medical bill.

 In a KFF poll, 1 in 7 people with healthcare debt said they’d been denied care by a provider because of unpaid bills, sometimes as little as a few hundred dollars.

 

Medical debt collection has typically been outsourced to aggressive private agents and the for-profit medical debt collection industry; there are few guardrails. Recently, consumer credit reporting agencies have said they will no longer put small medical debts on credit reports and remove medical debts that have been paid. For many people, that will take years. Some 18% of Americans with healthcare debt said they never expect to be able to pay the debt off.

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100 Million People in America Are Saddled With Health Care Debt - KHN

[SharkmanthaC 115,047]

My $16k (with insurance) bill from being in the hospital says hello. Plus $20k for IVF. 

Greatest country in the world right?

[RileyMint 573]

This is what happens when we build a society where everything has be a business... it's like a sick juggling act between hospitals and insurance companies... and all their workers can't pay back their student loans they took out to care for people... is there a way we can fix this country and FAST? I'm sick of waiting.

[Bling 31,680]

News: Things are getting worse. The country is seriously just going to implode 

[Bling 31,680]

19 minutes ago, SamanthaC said:

My $16k (with insurance) bill from being in the hospital says hello. Plus $20k for IVF. 

Greatest country in the world right?

Can someone get @Economyin here and tell us how much worse Canada is? 

[SharkmanthaC 115,047]

51 minutes ago, WheresMy911Alice said:

Can someone get @Economyin here and tell us how much worse Canada is? 

Well medically speaking, I know IVF is the most expensive in the US. I know universal healthcare has its downfalls but people shouldn’t go into debt just because they get cancer or something. 

[Economy 52,854]

2 hours ago, WheresMy911Alice said:

Can someone get @Economyin here and tell us how much worse Canada is? 

 

1 hour ago, SamanthaC said:

Well medically speaking, I know IVF is the most expensive in the US. I know universal healthcare has its downfalls but people shouldn’t go into debt just because they get cancer or something. 

I think healthy ppl with no health problems and that have a job that pays at least average (since the US has less safety nets and assistance for poor) is definitely better off in the US (tho that can change unexpectedly at any time)...

 

Of course it varies by area too. But Canada's housing crisis has really erroaded economics here in the last 15-20 years Nationally as a whole. Even ppl with 6 figure salaries if they didn't get into the market many years ago it's a struggle even for those with above average incomes

 

It's so bad that most families if they didn't buy a home 10+ years ago... Few have a house to themselves...

 

Everyone needs to either rent a floor or basement because renting a while house is out of most people's budgets... And many landlords themselves who own a house can also only afford to own that house and pay that mortgage if they rent out part of it so they don't get the whole house to themselves... U see row of houses in suburbs that look all nice but increasingly more and more of them have 2 families living in them not just 1

 

However the US when it comes to health for sure. It's a big cost risk to worry about. Also the low income I know in general get less assistance there as well. 

 

Personally despite the insane housing crisis we have, I'm not sure id move to the US given the higher overall crime, health cost risks, poor safety nets and social political polarization 

[Bling 31,680]

6 minutes ago, Economy said:

 

I think healthy ppl with no health problems and that have a job that pays at least average (since the US has less safety nets and assistance for poor) is definitely better off in the US...

 

Of course it varies by area too. But Canada's housing crisis has really erroaded economics here in the last 15-20 years Nationally as a whole. Even ppl with 6 figure salaries if they didn't get into the market many years ago it's a struggle even for those with above average incomes

 

It's so bad that most families if they didn't buy a home 10+ years ago... Few have a house to themselves...

 

Everyone needs to either rent a floor or basement because renting a while house is out of most people's budgets... And many landlords themselves who own a house can also only afford to own that house and pay that mortgage if they rent out part of it so they don't get the whole house to themselves... U see row of houses in suburbs that look all nice but increasingly more and more of them have 2 families living in them not just 1

 

However the US when it comes to health for sure. It's a big cost risk to worry about. Also the low income I know in general get less assistance there as well. 

 

Personally despite the insane housing crisis we have, I'm not sure id move to the US given the higher overall crime, health cost risks, poor safety nets and social political polarization 

All I know is all the jobs I've had, I had medical "insurance" included and always avoided the doctor no matter what because the bills just pile up. Even WITH "insurance" people get medical bills out the a$$, it's so ridiculous 

EDIT: Also, where are these healthy people with no health problems you speak of 

[Economy 52,854]

7 minutes ago, WheresMy911Alice said:

All I know is all the jobs I've had, I had medical "insurance" included and always avoided the doctor no matter what because the bills just pile up. Even WITH "insurance" people get medical bills out the a$$, it's so ridiculous 

Yeah. It's so hard to compare who has it better off.

 

I don't think it's as simple as "Canadians have it better" or "Americans have it better" it's gonna depend on ur individual circumstance

 

I know in terms of incomes it's not a massive difference although the median income is marginally higher in the US than in Canada. Also taxes despite the common myth that they are so much higher in Canada, they are not. 

 

So the biggest difference in economics for the average person is that Canada has a big disadvantage in housing costs while the US has a big disadvantage in healthcare costs...

 

But even that, the level of burden will vary depending how healthy u are, or how long ago u entered the housing market (if u ever did). Or if u get to live with family (like I do) and not pay a full blown rent

 

I think individual circumstances vary too much to really say which country has better economics. U can try to make an average but that average will be meaningless to ppl individually.

 

Without a doubt some ppl are better off in Canada and others with different circumstances would be better off in the US. Really depends 

[053Timo 1,698]

So lucky I live in The Netherlands, if we need care we pay something like €400 a year (own risk) max. And monthly €130 for the insurance policy. 

[Economy 52,854]

17 hours ago, 053Timo said:

So lucky I live in The Netherlands, if we need care we pay something like €400 a year (own risk) max. And monthly €130 for the insurance policy. 

130 euros a month? Still pricier than where I live. What things are needed insurance for?

 

 

[053Timo 1,698]

6 hours ago, Economy said:

130 euros a month? Still pricier than where I live. What things are needed insurance for?

 

 

Basically everything. Health Insurance is obligated in The Netherlands. You’ve got the basic insurance (will cover most of the issues, doctors appointments, hospital care, etc.) and you can choose add-on’s for ex. dentist or optician care. 

[GagaMyBlood95 9,915]

7 hours ago, Economy said:

130 euros a month? Still pricier than where I live. What things are needed insurance for?

 

 

It's pretty much calculated on a 'everyone pays for everyone's health related issues' basis and when I came here I was also like -omg this is crazy expensive and unnecessary.

But I've quickly changed my mind when I also needed surgery and I could rely completely on the state. I'd rather pay the 130e a month but know that if anything happens to me or anyone close, it will all be covered. And it's like that for everyone which is a fair system.

Dental care is a bit different tho,its like 15-50e extra (depending on package) and usually coveres a % of the costs you get.

[KORG 4,756]

Hm... seems like the good old America that people have nostalgia for though..

[Guest]

On 8/3/2022 at 3:59 AM, SamanthaC said:

My $16k (with insurance) bill from being in the hospital says hello. Plus $20k for IVF. 

Greatest country in the world right?

Im realizing that could be the price for surrogacy. Sucks only rich people can do IVF