Medical care is expensive, even for people in Tennessee with health insurance. Even a minor procedure or one visit to the emergency room can result in crippling medical bills and overwhelming debt. It is common for people with some type of coverage to accumulate significant medical debt because of a chronic health condition, emergency health issue or surgery.
After the passing of the Affordable Care Act, many had access to health insurance despite preexisting conditions and other factors. However, not all plans are created equal, and many people are living with balances they may never be able to pay off. For example, loopholes in the terms of the one person's health coverage allowed a hospital to charge $80,000 for an emergency procedure.
Altogether, Americans owe approximately $81 billion in medical debt. The medical debt crisis impacts younger people more than their parents or grandparents. In fact, people in their mid-twenties to their mid-forties are more likely than older people to have a medical bill in collections. Younger people tend to have plans that cover less, and they tend to have lower incomes, which can quickly lead to out-of-control debt when there is a medical emergency.
For Tennessee readers who have a significant amount of medical debt, it can feel overwhelming. There are options available to these individuals, including filing for bankruptcy. Through this process, it may be possible to discharge certain types of unsecured debt, including medical bills. A person may find it helpful to learn more about bankruptcy in an evaluation of the individual financial situation.