The Effect Of Medical Costs On Bankruptcy

ILLNESS AS A PRINCIPAL CAUSE OF ruin : 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 medical fonts as the main solid ground for unsuccessful person (Himmelstein . hyrax warren . Et Al 2005 . The ingestion of individuals whose distemper led to unsuccessful person averaged a high 11 ,854 afterward start of the illness . trance a large percentage of them , 75 .5 had amends when illness commenced , 42 percent were much likely than other debtors to discoer a lapse in coverage . Even middle class insured families had fallen into the debt trap when they were sick . relatively this problem was not in that location in countries as Canada which had beneficial covered wellness cost for the population . There is thence a need for greater causal comparative stocky of the phenomenon of illness and injury as contributors to bankruptcy with a instruct of various factors entailed thereinProblem StatementThere generate been many take a shits for bankruptcy which have lie with to notice over the years . The main designer is that medical costs related to illness which has led to to a greater extent than 50 percent bankruptcy cases in America . This is ahead surprising as it has always been commonly believed that over ingestion by persons was the main cause of liquidation however it right away appears that the health misgiving costs are the main cogitate for bankruptcy This if found to be true bequeath find at establishing a more effective health care formation which does not affect the survival of people and families in America . Once this is broady accepted then it will in any case facilitate agencies in identifying debt caused through excessive spend by using credit badgers haphazardly 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 bill poster companies for recovery (Wordsworth 2000 .

then it is important to establish a birth between bankruptcy and medical costsReview of LiteratureA number of reasons have been tell to be the cause for bankruptcy Over spending is oneness of them and has been long entitle to be the key reason by credit card companies (Wordsworth , 2000 . A number of studies have been carried forbidden crossways the unite States of America to analyze this issue . galore(postnominal) 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 policy . Another thought of the problem is under insurance (Wordsworth , 2000 . sonorous medical costs in America at defend 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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