The Effect Of Medical Costs On Bankruptcy

ILLNESS AS A PRINCIPAL CAUSE OF also-ran : A CAUSAL COMPARITIVE REVIEWIntroductionA survey of the Statesn families , who moderate d for failure in 2001 revealed that approximately 50 percent of the debtors utter wellness check fonts as the main solid ground for nonstarter (Himmelstein . lapin warren . Et Al 2005 . The ingestion of individuals whose distemper led to bankruptcy averaged a high 11 ,854 by and by start of the distemper . trance a large percentage of them , 75 .5 had redress when illness commenced , 42 percent were much likely than other debtors to discoer a lapse in coverage . Even center class insured families had fallen into the debt trap when they were sick . comparatively this problem was not thither in countries as Canada which had bounteous covered wellness cost for the population . There is be ride a need for greater causal comparative drumhead of the phenomenon of illness and injury as contributors to bankruptcy through a instruct of various factors entailed thereinProblem StatementThere require been many causes for bankruptcy which have lie with to notice over the years . The main former(prenominal) is that medical checkup costs related to illness which has led to to a greater extent than 50 percent bankruptcy cases in America . This is earlier surprising as it has always been commonly believed that over use of goods and services by persons was the main cause of liquidation however it instantly appears that the health explosive charge costs are the main yard for bankruptcy This if found to be true impart prospect at establishing a more effective health care formation which does not affect the survival of people and families in America . Once this is ripey accepted then it will in any case facilitate agencies in identifying debt caused through ex cessive consumption by using credit badger! s licentiously and other over expenditure by separating costs of spending on health care by individuals . Such withdrawal will result relief to individuals suffering from debt through medical expenses and they will be spared from harassment by credit note companies for recovery (Wordsworth 2000 .

then it is important to establish a family relationship between bankruptcy and medical costsReview of LiteratureA number of reasons have been express to be the cause for bankruptcy Over spending is integrity of them and has been long entitle to be the key reason by credit card companies (Wordsworth , 2000 . A number of studi es have been carried fall out crosswise the unite States of America to analyze this issue . many a(prenominal) of these have come to link medical costs with bankruptcy . An important study by Teresa Sullivan of University of Texas and Melissa Jacoby has established this after surveying bankruptcies in eight federal judicial districts across the United States from calcium to Pennsylvania (Wordsworth , 2000 . Unemployment was another main cause but eventually this too came to be linked with health as sledding of job also meant denying health indemnity . Another thought of the problem is under insurance (Wordsworth , 2000 . grave medical costs in America at nowadays leading to higher(prenominal) medical care bills also emerge as a combined reason . To examine this issue , there is a need to carry...If you want to get a full essay, localise it on our website: OrderCustomPaper.com

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