The simple answer is: Of course bankruptcy can help with Medical bills!
In fact, nearly 60% of bankruptcies filed in the United States are related to medical bills and most of our clients have some medical bills listed on their petitions. With the rising costs of insurance, many employers have either cut back on their programs by reducing benefits. This leads to you (as an employee) paying more for health insurance and related expenses. In other cases, companies sometimes completely eliminate their health insurance program, leaving you to fend for yourself.
Too often, the cost of decent health insurance is simply not affordable.
Unfortunately, this leads to an increasing amount of people living without health insurance, hoping that their statistical chance of being hit with unaffordable medical bills is low enough where there won’t be an issue. With a growing number of people being either without insurance or underinsured, many people simply skip necessary medical treatment, risking their health (and even their lives) in order not to incur expenses, and avoid missing work or losing potential income. Unfortunately, health emergencies can and usually do arrive when they are least expected– and at the worst possible time financially. When they do, if you are left without insurance coverage, you will undoubtedly be left with a mountain of bills that is impossible to pay.
For those who are insured, many people to find out that health insurance companies will do anything to get out of paying for your treatment.
Common practices are claiming “Pre-Existing Condition” Exemptions, claims that your physicians charged for “unnecessary procedures,” or the increasingly common practice of denying the first claim and forcing you to fight them to even get coverage on the basics. So even if you are entitled to health insurance benefits, it may be difficult to get them soon enough to allow you to timely pay your medical bills. The bottom line is: all these factors can put you in a very inconvenient situation where bankruptcy can serve as a solution.