Medical debts can be immense, and even when you’re insured, you may find that they’re hard to overcome. How is that possible? Isn’t insurance supposed to keep you out of debt? That’s not always the way insurance policies work, and it’s not really fair for those who can’t afford their medical care and pay their premiums on time.
The only surefire way to avoid debt is not to spend money. That means not getting ill or racking up insurance costs and fees. The number of people in America who were uninsured has dropped dramatically since the Affordable Care Act went into place, but the trouble is that the insurance provided is not always working as the safety net it was meant to be.
High copays and deductibles make it hard for some to reach a point where insurance coverage is really helping. The patients may still need to cover thousands in out-of-pocket costs, even though they’re ill or hospitalized for a serious medical condition.
This trouble with high medical costs leads some to difficult decisions. Should they pay their medical bills in lieu of housing costs? What is more important, food or heating? These are some of the horrible decisions some in deep debt have to make, and that is making many unhappy about health care insurance policies.
Our website has more information on how you can stop the cycle of medical debt and start fresh with a clear financial future. Whether you’re considering bankruptcy or want to look into ways to manage your medical debt by paying less than you owe, there can be ways out of debt that give you peace of mind.