Medicare-for-All Prevents Medical Bankruptcies

Each year, nearly 650,000 people are pushed into bankruptcy by medical bills, accounting for more than 60 percent of all personal bankruptcies. It’s not just a problem for the poor or unemployed, either – the majority of people experience medical bankruptcy were employed, college-educated homeowners. More surprising, nearly 80 percent had insurance at the time they got sick. Medicare-for-All would end medical bankruptcy once and for all. Americans would no longer have to pay outrageous amounts or go into debt in order to receive treatment. In addition, Americans would be protected over their liftetime because they would would remain covered in the event they lost their job, started a business or went back to school, reducing the risk for catastrophic out-of-pocket health costs. 

Under Medicare-for-All, every American would finally be able to access health care without worrying about financial ruin. A UK resident recently commented on their health care system: “You don’t worry about healthcare, ever, for any reason. It’s just there. Like the police or the fire department. There are no bills, no paperwork, no deductibles, no insurance companies to deal with, no ‘patient statements,’ no risk of going bankrupt if you get the ‘wrong’ disease.” Imagine the security of knowing that your doctor will be there to take care of you when you are sick, regardless of your income.  

 

 

 

 

Resources: