U.S. News and World Report notes that 75 percent of bankruptcies in America today are the result of healthcare expenses gone awry.
So while GM bails out and the financial services industry bails out, American families unable to afford $10,000 per year in deductibles and another $10,000 per year in premiums along with a couple grand a year in doctor's visits and RX's not covered under their plans get to inherit the lasting effects of going bankrupt.
According to the report:
The costliest medical conditions are neurological problems, which cost patients $34,167 in average out-of-pocket healthcare expenses, according to a study in Thursday's online edition of the American Journal of Medicine. The study found that from 2001 to 2007, the number of bankruptcies caused by medical bills rose by about 50 percent. Insured Americans bankrupted by health problems had an average $17,749 in medical bills; those without insurance had bills amounting to $26,971, on average.
The report also provides some tips for saving $ on healthcare, though I've tried most of these, and they require a LOT of time for very puny results if you ask me.
It appears President Obama is turning his attention to the healthcare mess, and not a moment too soon.