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Medical Bills can Lead to Debt even with the Affordable Care Act

Many Americans in need of unexpected emergent care or suffering from chronic illness may already be dealing with the financial hardships that medical debt can bring. The Affordable Care Act is — many believe — supposed to provide some sort of relief to those constantly facing medical bills due to ongoing illness. Unfortunately, even though some insurances may cover more items, out-of-pocket expenses for some could sky-rocket, keeping the cost of care still unaffordable. Florida residents who may be burdened by medical bills could have legal options to help relieve some of their debts and still have access to the care they desperately need.

While the new health care law may in fact be a benefit for many, for others it will still leave them underinsured and forced to pay more money out-of-pocket to cover yearly deductibles. When considering the average pay of a service job worker, which averages to about $24,000 per year; while they may qualify for subsidies to have premiums reduced, could face a deductible of over $5,000 for medical expenses, which is more than 20% of their annual income. That places a significant fiscal burden when finances are already horribly tight.

When considering new health coverage, comparing all plans and shopping around is important. Also, taking into account any existing medical issues can help in determining the best possible policy for an individual or family. Hopefully the majority of people can find a plan that won’t lead to significant debt due to medical expenses should anything happen to them.

While — thankfully — more people should have access to coverage for medical care, it doesn’t help the fact that some medical expenses simply aren’t covered or are extremely expensive. Florida residents who have done all they can to find affordable access to health care may still find themselves drowning in debt. Anyone burdened by mounting medical bills may have legal options available to them to provide desperately needed debt relief, such as the possibility of filing for bankruptcy protection.

Source: New York Post, ObamaCare forces poor cancer patients into crippling debt, No author, Jan. 4, 2014

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