Bankruptcies Due to Medical Costs

Researchers at the Kellogg School mentioned that “medical expenses contribute to less than 20 percent of all bankruptcies.” To read the entire article, click on Medical Costs Contribute To Fewer Than One In Five Bankruptcies, Say Kellogg Management School Researchers.

Researchers at Northwestern University mentioned that “medical bills are a contributing factor in just 17 percent of personal bankruptcies.” To read the entire article, click on Medical Bankruptcy: Myth vs. Fact.

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Factcheck.org had the following statistics:

• A Harvard Study from 2005 mentioned 46.2% of bankruptcies attributed to medical reasons
• American Bankruptcy Institute in 1996 mentioned 57% of filers said medical reasons were the major cause of their bankruptcy

To read the entire article, click on What is the percentage of total personal bankruptcies caused by health care bills?

NPR in 2002 mentioned the following statistics of households contacted by a collection agency in the past year:

• 27% of households earning less than $25,000 annually
• 12% of households earning between $25,000 and $50,000 annually
• 4% of households earning greater than $50,000 annually

To read the entire article, click on NPR/Kaiser/Kennedy School Poll on Health Care.