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In an article on Media Matters titled "Top 4 Obamacare Myths About Millennials Dispelled", I learned that:

Before the ACA Established Minimum Coverage Standards, 78 Percent of Medical Debt-Related Bankruptcies Were For Individuals That Had Health Insurance. According to Businessweek, "Medical problems caused 62% of all personal bankruptcies filed in the U.S. in 2007, according to a study by Harvard researchers. And in a finding that surprised even the researchers, 78% of those filers had medical insurance at the start of their illness, including 60.3% who had private coverage, not Medicare or Medicaid." [Businessweek, 06/04/09]
Nice to know if you have someone telling you that junk insurance is a good thing.  Or that our health insurance system was just fine the way it was.  

Check out the article for a lot more info:

http://mediamatters.org/...

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Comment Preferences

  •  The source article is full of percentage figures, (0+ / 0-)

    but never gets around to revealing the actual number of bankruptcies, much less the number of medical-related ones.  Without that figure, the percentages thereof are meaningless.

    More interesting was one of the source articles which discussed the number (millions) of millennials who will be qualified for (and presumably enrolled in) Medicaid.  Given that many (if not most) states require that Medicaid recipients grant their state an interest in their assets equal to the Medicaid services they receive, who's going to warn the enrollees that the states will have the power to (and will) seize their assets upon their eventual deaths and sell them in order to recover for the cost of services that were rendered (including, presumably, decades worth of interest) rather than the estates passing to their heirs?  It's also possible the states will have the right to seize assets upon the millennials' acquiring them as they age, meaning first homes, savings accounts and the like can be taken.  Are these salient facts being disclosed during enrollment via HC.gov?

    "Two things are infinite: the universe and human stupidity, and I am not sure about the universe." -- Albert Einstein

    by Neuroptimalian on Thu Nov 21, 2013 at 08:33:23 PM PST

    •  The clawback of assets by the state (3+ / 0-)
      Recommended by:
      jdld, Cassandra Waites, Tonedevil

      applies only to people who are on Medicaid and are 55 and older.  As I understnd it, if millenials get off Medicaid before that age, they will owe nothing to the state for help received before age 55, unless the laws change.

      The spirit of liberty is the spirit which is not too sure that it is right. -- Judge Learned Hand, May 21, 1944

      by ybruti on Thu Nov 21, 2013 at 09:19:14 PM PST

      [ Parent ]

      •  Not all states have a clawback (0+ / 0-)

        and there are a lot of exemptions — including hardship.

        Besides, that only applies to Medicaid, not to private policies through the exchanges.

        This was put into law as a fraud prevention measure.

        I'm asking you to believe. Not in my ability to bring about real change in Washington ... *I'm asking you to believe in yours.* Barack Obama

        by samddobermann on Sat Nov 23, 2013 at 05:23:38 AM PST

        [ Parent ]

    •  Considering the fact that most people believe (1+ / 0-)
      Recommended by:
      Tonedevil

      their health insurance will protect them from medical catastrophe requiring bankruptcy, knowing that 78% of individuals filing bankruptcy due to medical illness had coverage at the beginning of their illness is far from meaningless.  

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