For many families who have relied on using credit cards to pay for medical expenses when they had no other alternative are finding that getting credit is becoming more and more difficult and leaving them with little recourse. Medical debt is already one of the leading causes of bankruptcy in this country, and now as people are losing their jobs and their insurance, maxing out credit cards and running up medical bills which they cannot pay, the problem is only going to get worse. Many people are foregoing treatment for non-life threatening problems, and an equally large number of people are not filling prescriptions or are rationing the prescriptions instead of following doctor’s instructions. How far reaching will the impact of this current situation be? Will we be feeling the repercussions for years after the economy recovers?
Credit Crisis Leaves Many at a Loss for Health Care
Tags: bankruptcy, debt, health care spending, insurance, recession, unemployment