Reed Law Firm, P.A. is a federally designated debt relief agency. We proudly help people file for bankruptcy relief under the U.S. Bankruptcy Code.
image description
Giving You Hope For a Debt-Free Future

SOUTH CAROLINA
BANKRUPTCY ATTORNEY

Health insurance not sufficient to avoid high medical debt

When debating issues of health care coverage and how to best ensure that Americans are able to receive necessary medical treatment, much of the rhetoric surrounds issues concerning the availability of health insurance. However, having the ability to procure health insurance is only one aspect of a larger topic concerning the cost and availability of care. It is important to remember that having health insurance does not always protect a South Carolina resident from significant levels of medical debt.

A recent study looks at the out-of-pocket costs facing people who have health insurance, but do not have sufficient coverage to pay for the full cost of treatment. Researchers conducted interviews with 33 individuals who were insured, mostly through Medicare. Respondents had all sought financial assistance in paying for uncovered medical expenses by way of a non-profit foundation.

The results suggest that for many insured Americans, health care expenses require a delicate monthly balancing act. Money intended for groceries may be diverted to pay for a prescription. A follow-up surgical visit may need to be postponed in order to cover the power bill. In other cases, necessary treatment is simply postponed until one's financial standing has improved. Perhaps the worst approach involves leaning on credit cards to cover the difference, which can lead to a worsening debt scenario over just a short period of time.

Until and unless health coverage is both available and affordable for all American, many South Carolina residents will find themselves facing these and other sobering financial decisions. In some cases, filing for personal bankruptcy is the best course of action. A bankruptcy discharge can lead to the elimination of existing medical debt and other outstanding balances, and can give individuals and families the chance to start anew in budgeting and saving for future financial stability.

Source: U.S. News and World Report, "High Medical Bills Driving Some Americans to Extreme Measures," Karen Pallarito, Jan. 18, 2013

No Comments

Leave a comment
Comment Information

Contact Us

For more information or to schedule an appointment with an experienced lawyer regarding a bankruptcy filing, please contact us.

image description

COLUMBIA OFFICE
220 Stoneridge Drive,
Suite 301
Columbia, SC 29210
Phone: 803-807-2565
Fax: 803-726-4887
Email | Map & Directions

FLORENCE OFFICE
1807 West Evans Street,
Suite B
Florence, SC 29501
Phone: 843-679-0077
Fax: 843-679-0667
Email | Map & Directions

Bold labels are required.

Contact Information
disclaimer.

The use of the Internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.

close

Privacy Policy

image description

Reed Law Firm, P.A.
220 Stoneridge Drive,
Suite 301

Columbia, SC 29210

Phone: 803-726-4888
Fax: 803-726-4887
Columbia Law Office Map

Reed Law Firm, P.A.
1807 West Evans Street,
Suite B

Florence, SC 29501

Phone: 843-679-0077
Fax: 843-679-0667
Florence Law Office Map

Reed office

‚Äč