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Medical Bankruptcies are Here to Stay

Don’t expect the Affordable Care Act to solve the medical bankruptcy problem in this country. Unpaid medical bills are the number one cause of bankruptcy filings.

The Affordable Care Act (Obamacare) may give many more people access to health care, but research shows that many people are filing for bankruptcy with high medical costs even when they have health insurance.  Copays and deductables can add up.

A serious medical condition can rack up nearly $10,000 in copays and deductables in a year.  Consider that and an inability to work and it is easy to understand why medical bankruptcies will continue.

Read more at Fox Business.