Obamacare FAIL: Medical bills cause two-thirds of all U.S. bankruptcies

By Ethan Huff

Even with Obamacare in full swing, hundreds of thousands of Americans every single year face total financial ruin from sky-high medical bills, a shocking new study has found.

Despite the fact that more Americans than ever are now “covered by health insurance,” research has determined that “about 530,000 families each year are financially ruined by medical bills and sickness” – and the vast majority of these families have health insurance.

Another disturbing tidbit uncovered by the study is the fact that the number one cause of bankruptcies in the United States is medical bills, as they account for an astounding two-thirds of all accounted-for bankruptcies.

“These days, most health insurance policies closely resemble Swiss cheese because they are so full of loopholes, and health insurance companies have become masters at finding ways to wiggle off the hook,” explains Zero Hedge.

“So every year hundreds of thousands of American families find themselves facing huge medical bills that they did not expect to be paying, and as a result, medical expenses are the primary factor in 66.5 percent of all personal bankruptcy filings in the United States.”

Piggybacking on an earlier study that arrived at similar conclusions, this latest paper is truly an eye-opener as to the unsustainable nature of modern health care.

Rather than develop real solutions to help people become healthier and more financially stable, modern health care – and more precisely, the Big Pharma pill and vaccine machine – is making people sicker while sucking them dry of their hard-earned income and wealth.

Not only that but socialized medicine schemes like Obamacare, which were touted as providing more coverage for cheaper, are actually making things worse than they were prior to their implementation.

“The current study found no evidence that the ACA reduced the proportion of bankruptcies driven by medical problems: 65.5% of debtors cited a medical contributor to their bankruptcy in the period prior to the ACA’s implementation as compared to 67.5% in the three years after the law came into effect,” this new study found.

“The responses also did not differ depending on whether the respondent resided in a state that had accepted ACA’s Medicaid expansion.”

So often when Leftists are whining about “health care coverage,” the subject of their gripes is “the poor,” whom they see as its biggest victim. But the truth is that it’s actually the middle class that’s suffering the most within this current paradigm of pay-for-play drugs and surgery.

As revealed in the new study, bankruptcy is most common among middle-class Americans, “who have faced increasing copayments and deductibles in recent years despite the ACA (Affordable Care Act),” the paper explains.

“The poor, who were most helped by the ACA, less frequently seek formal bankruptcy relief because they have few assets (such as a home) to protect and face particular difficulty in securing the legal help needed to navigate formal bankruptcy proceedings.”

In truth, America’s system of “health care,” if you can even call it that, is actually a multi-trillion dollar money-making scam that’s wiping people out of house and home. It’s about enriching the Big Pharma overlords at the expense of families that are simply trying to make a living and survive.

“Unless you’re Bill Gates, you’re just one serious illness away from bankruptcy,” warns Dr. David Himmelstein, the study’s lead author, and a Distinguished Professor at City University of New York’s (CUNY) Hunter College and a lecturer at Harvard Medical School.

“For middle-class Americans, health insurance offers little protection.”

A version of this story first appeared at NewsTarget.

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1 Comment on "Obamacare FAIL: Medical bills cause two-thirds of all U.S. bankruptcies"

  1. I thought the messiah fixed healthcare for all time? What do you mean the local hospital now charges a fee for using the meeting room to see any doctor. Co-pays are up for anything that requires lab work.
    There is now a fee for “abusing” the emergency room. If you don’t have premium coverage only a 30 day supply of prescriptions will be administered at any one time.
    Complete half assed clock milking incompetents that can never be fired work the phone banks in a fun game of run around where you get passed to play merry go round just to return to square one.
    Satellite clinics have raised fees for any x-ray or exam and some doctors have moved on to greener pastures since they didn’t go to school for years to do free work for the people’s collective.
    Meanwhile future lifetime democrat voters are moved to the front of the line with no problem, maybe that is why the hospital is coming up with new fees?

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