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Sick and struggling to pay, 100M people in the U.S. live with medical debt

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101–110 of 381 posts

Re: Sick and struggling to pay, 100M people in the U.S. live with medical debt

#101
post #73

Still better than dealing with rationing. The rest of the world better hope the US never goes socialist with health care - kiss innovation goodbye.

can you elaborate on the "rationing" part? I'm guessing you tied "socialist" and "rationing" together, but did you do it in the context of other developed economies (i.e most of Europe?)

He prefers healthcare to be rationed according to the amount of money they have instead of the amount of need.

Re: Sick and struggling to pay, 100M people in the U.S. live with medical debt

#102
This is the expected result of median deductibles being larger than median savings accounts. Small amounts of debt <$1000 are not necessarily problematic amounts of debt, especially considering that they can typically be paid off over time with no interest.

Re: Sick and struggling to pay, 100M people in the U.S. live with medical debt

#103
post #78
post #73

Still better than dealing with rationing. The rest of the world better hope the US never goes socialist with health care - kiss innovation goodbye.

For all the downvoters - this was also on the front page: https://news.ycombinator.com/item?id=31767347 Downvote away though :p

My friend who lives in the USA had to deliver her own baby in a hospital hallway because all the rooms were full and the doctors were too busy to tend to her.

The hospital still sent her a $30k bill for the delivery.

Re: Sick and struggling to pay, 100M people in the U.S. live with medical debt

#104
post #74

Interesting: > For many Americans, debt from medical or dental care may be relatively low. About a third owe less than $1,000, the KFF poll found. I wonder how they'd count me, who puts all expenses on a credit card and pays it off each month, technically I'm going into debt ...

I also intentionally go in to debt for any of my expenses subject to deductible, because my hospital offers zero-interest payment plans. I then pay their payment plan with a credit card, get 2% back, and pay it off at the end of the month.

This also ties into that commonly statistic that 60+% of bankruptcies are caused by medical bills. The study is more complicated than that, and it's not the best summary:

https://www.politifact.com/factchecks/2009/jun/11/chris-dodd...

Re: Sick and struggling to pay, 100M people in the U.S. live with medical debt

#105
post #73

Still better than dealing with rationing. The rest of the world better hope the US never goes socialist with health care - kiss innovation goodbye.

I'm no socialist, but you can actually have a system of government health insurance but keep private healthcare. Or basic free healthcare (government run hospitals/clinics) and if you want better, pay out of pocket for private.

For example, in my wife's home country, she give birth in an awesome private maternity hospital for about $2k out of pocket for everything. I mean everything. But if we wanted, she could have done it in the government run hospital for $0.

Re: Sick and struggling to pay, 100M people in the U.S. live with medical debt

#106
post #97

not that it honestly matters. the whole cabal of private healthcare has become such a teetering house of cards post covid that credit reporting agencies no longer count medical debt in your score. https://www.forbes.com/advisor/personal-finance/medical-debt...

That sounds like a solid improvement. It really is a different class of market interaction.

Re: Sick and struggling to pay, 100M people in the U.S. live with medical debt

#107
post #73

Still better than dealing with rationing. The rest of the world better hope the US never goes socialist with health care - kiss innovation goodbye.

If you think our current system doesn't have rationing, I'm not sure what to tell you. "Long wait times" are one way to ration care -- but equally effective is just denying 30 million people the ability to get any care at all due to unaffordable insurance and ruinous costs for any 'touch' with the system. Another effective way to ration care is to make routine things so expensive that people self-select out of receiv…

Literally the entire point of copays and other forms of cost sharing is to 'ration' healthcare by reducing demand. There might be health insurance out there without cost sharing, but I've never seen it and it's certainly not the norm in the US.

Re: Sick and struggling to pay, 100M people in the U.S. live with medical debt

#108
post #78

Earlier quoted context omitted.

For all the downvoters - this was also on the front page: https://news.ycombinator.com/item?id=31767347 Downvote away though :p

Go ask any law enforcement officer, fire fighter, or EMT how many times a week they hear "please don't call an ambulance, I can't afford it" and the answer will be so depressing that you may change your tone about this.

Fun fact about the US's system too - even when ambulances are called for things like heart attacks -- they take much longer to show up in poor areas compared to wealthier ones;

https://jamanetwork.com/journals/jamanetworkopen/fullarticle...

There are some common agreed upon thresholds that strongly correlate with positive outcomes, e.g. 15 minute response time after a heart attack. In wealthy areas, this outcome was achieved 97% of the time vs. only 93% of the time in poorer ones. That doesn't sound too bad, but that means you were something like 230% more likely to miss that cutoff if you were in a poor neighborhood. But at least it's not "socialist".

Re: Sick and struggling to pay, 100M people in the U.S. live with medical debt

#109
post #74

Interesting: > For many Americans, debt from medical or dental care may be relatively low. About a third owe less than $1,000, the KFF poll found. I wonder how they'd count me, who puts all expenses on a credit card and pays it off each month, technically I'm going into debt ...

No need to wonder. You can read the poll and results methodology yourself.

The answer is two clicks from the article, both links above the fold on their respective page. If you’re being genuine in your curiosity, it would improve the discussion here if you shared what answer you find.

Re: Sick and struggling to pay, 100M people in the U.S. live with medical debt

#110

I hate the way the health-care system works and how it's affected me and those close to me. I spent much of my adult life paying off medical debt exactly like they describe. Defrayed by parents somewhat, but still a significant burden for many years. On one hand, we have debt and bankruptcy as a tool to help individuals deal with costs that would be impossible to save up for. On the other hand, this quote from the ar…

The entirety of the US economy is tuned to create debt; healthcare is just one example of it.
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