A Double Whammy for Americans’ Health
Elizabeth Warren, David Himmelstein and Steffie Woolhandler | Baltimore Sun
Health insurance is a bit like a hospital gown. From the front it appears to shield the essentials. Closer inspection, however, reveals a lot uncovered behind - and only a tenuous thread prevents full exposure.
Most Americans think they’re covered, except the 45 million who are uninsured (”going bare,” in insurance industry parlance). But few of us are really shielded from the financial ravages of illness.
Each year, 1 million people are bankrupted by illness or medical bills, according to the Harvard Consumer Bankruptcy Project, the first in-depth study of medical bankruptcy.
Indeed, we found that about half of the families filing for bankruptcy do so in the aftermath of a serious medical problem.
Most of those filing medical bankruptcies were solidly middle-class - they had gone to college, owned homes and had good jobs. And more than three-quarters had health insurance when they first fell ill. But the coverage often had gaping holes - co-payments, deductibles and exclusions, such as physical therapy. For others, job-based coverage slipped away when a breadwinner got too sick to work.
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