Wednesday, March 16, 2011

Massachusetts health care reform hasn't stopped medical bankruptcies

According to a recent study published in the American Journal of Medicine, medical-related bankruptcies in Massachusetts haven't fallen, despite that state passing a comprehensive health care reform package, on which the national health care legislation was based.

A selling point for the Obama administration's national reform program was that it would lower the incidence of personal bankruptcy triggered by overwhelming medical bills.

One reason for the lack of decline is the cost of health insurance. The study notes that "the least expensive individual coverage available to a 56-year-old Bostonian carries a premium of $5,616, a deductible of $2,000, and covers only 80 percent of the next $15,000 in costs for covered services.” The cost of health care has been steadily climbing as well. Most medical bankruptcies, now as in the past, affect families who already have insurance, but who are left unable to pay the bills that their insurers won't cover.

You can read more about the study at Healthcare-NOW!s website.

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