Can You Afford to Get Sick?
A Study by the Urban Institute Found That Nearly a
Quarter of U.S. Adults (18-64) Had Medical Debt in 2015.
Mississippi Ranked Highest for Medical Debt (37%) in 2015.
States Shaded in Red Have the
Highest Rate of Medical Debt (Southern States Are Hit Hardest).
Since 1960, Healthcare Spending in the U.S.
Has Grown by 800%. It Now Accounts for
Nearly 18% of the National Economy Today.
In 2016, Healthcare Spending in the U.S. Hit
$3.3 Trillion With That Much Money, You Could: Buy Every Single Person on Earth a Smartphone or Send 25 Million People to a Private College for 4 Years
$10,348 Average Cost Per Person for Healthcare in America in 2016
In 2016, Hospital Care Made Up
32% of Total Healthcare Spending in the U.S., or
$1.1 Trillion. Hospital Bills Are the
Largest Out-of-pocket Expense for People With Medical Debt.
In 2015, a Kff Survey Found That
67% of People Who Had Trouble Paying Medical Bills Reported One-time or Short-term Medical Expenses,
Like a Hospital Stay, as the Reason.
In a 2015 Survey,
1 in 5 People With Insurance Reported
Problems Paying Medical Bills.
The Same Survey Found That
53% of People Without Insurance Had Problems Paying Medical Bills.
There Were 141.4 Million e.r. Visits in the U.S. In 2014. Of Those, 28% (40 Million) Were Due to Injuries.
Eart Attacks Were the
5th Most Expensive Condition Treated in a Hospital in the U.S. In 2013, Adding Up to
$12.1 Billion for the Year, or
$20,086 Per Stay.
21/220 Unintentional Injuries Result in 21 Million Medical Visits Each Year, Totaling About $220 Billion.
$2,086 in the U.S., the Average Cost of a Hospital Stay Is Over $2,000
Per Day, Depending on the Type of Hospital.
In 2009,
2/3 of Bankruptcies Had a Medical Cause. That Number Has Since Gone Down, but Medical Debt Still Accounts for a Significant Portion of Bankruptcy Filings Today.
Bottom Line? Healthcare Is Expensive. You Need a Plan.
Fixed Indemnity
- Pays a Lump Sum Benefit for Covered Situations
- Typically No Deductible or Coinsurance
Hospital Indemnity
- Pays a Fixed Amount Per Covered, Hospital-related Expense
- May Require an Initial Deductible, Which Varies
Accident
- Pays a Lump Sum Benefit for Covered Injuries
- Typically No Deductible or Coinsurance
Critical Illness
- Pays a Lump Sum Benefit for Covered Illnesses
- Typically No Deductible or Coinsuranc
Ancillary Benefits, Like Accident Insurance or Fixed Indemnity Plans, Can Be Used for Anything, From Covering Out-of-pocket Medical Costs to Making Mortgage Payments While You're Sick.