The Underinsured: An Overlooked Sector In Medical Bill Debt
The Underinsured: An Overlooked Sector In Medical Bill Debt
These are families who can afford to pay insurance and more than likely, own insurance. But they are caught in a rock-and-a-hard-place situation: too moneyed to avail of the government assistance program but not nearly rich enough to settle their bills,without necessarily finding themselves buried in debt.
These are the country's underinsured and, for all intents purposes, the country's overlooked. Statistics from ten years ago revealed that as much as 70% of the underinsured were pushed to brink of bankruptcy because of medical bill debt. The figures today aren't much better because the broken health system remains. The numbers could even have ballooned when the financial crisis of 2008 and the ensuing US recession left millions of families struggling to stretch their monthly household budgets.
In America today, more than ever, nobody is allowed to get sick. Moreso the underinsured.
To be sure, the reforms will not be easy because the problems cuts across the supply and service chain. From loopholes in health laws, insurance companies that take advantage of these gaps to decline claims, to doctors saddled with non-payments of services and high malpractice lawsuits and finally, to employers who are forced to pass on to their employees the burden of paying for their insurances in order to cut costs. (We are not even mentioning those employers who take advantage of the economic crunch to eschew paying for insurance.)
Creating a perfect storm is the lack of extra money as families realign savings to pay for the mortgages, utility bills, education and day-to-day expenses. Without savings of their own, it goes without saying that they couldn't afford to pay the co-pays or co-insurance requirements as well as the deductibles, or if their insurance policies do not cover the medical procedure they are seeking.
More often than not, it's not the catastrophic disease that contributes to a medical bill debt when you have no more savings. It's the little things. Consultations that you postponed because you couldn't pay the doctor's fee, procedures you deferred due to lack of money, and the medicines you failed to purchase. These variables add up over time, either your condition worsens or your savings deplete.
M. Baylor, of Hurst Texas, grew up with both parents as doctors. Laws concerning medical care governed his fascination as he grew up. As a paralegal in Allmand & Lee, Marcus maintains an informative blog about medical bill debt, medical litigation, and the latest in the health care reform bills and government programs.
The Secrets About Medical Bills blog seeks to address all sorts of legal questions that people have on the subject. Providing insight and alternatives for those saddled with medical debt and issues that arise through no fault of their own, Marcus seeks to bring help to people who suffer financially due to health issues. Visit Marcus's blog to find out the latest legal tactics used to fight on behalf of the patient against health insurance companies.
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