Data gathered from agencies and organizations across the country reveal how many families are struggling with medical bills. Part of the problem is that people are responsible for paying more out-of-pocket costs because of high-deductible insurance plans. To meet their obligations, some will use their savings. Others will use credit cards with high interest rates that inevitably pile up. Eventually the money runs out and the credit cards are maxed, but the pile of medical bills remains. The result is that health care has become the primary reason for bankruptcy in America.
Most Americans have at least some form of debt, whether it is a home mortgage, an auto loan, student loans or some other kind of credit. In fact, many of us will carry various forms of debt for our entire lives.
Everyone knows that medical treatment can be very expensive, even for patients who have medical insurance. This is especially true for cancer patients as new cancer therapies are now between $10,000 and $60,000.