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Insurance no guarantee against medical debt problems

Just because you have health insurance does not mean you are immune to getting hit with medical debt problems. The Affordable Health Care Act has helped a large number of Americans who didn't have insurance get important medical insurance coverage. However, this has not resolved our nation's medical debt problems.

Millions of Americans are currently dealing with unpaid medical bills that they cannot seem to get on top of. Anyone who has been through a major medical procedure knows that insurance doesn't cover everything. Co-pays and other expenses can really add up. Even worse, if you get caught off guard without health insurance and have to pay for a major medical procedure that you need to save your life, going into debt is the only option most people have.

In spite of the Affordable Health Care Act, which was passed in 2010, insurance providers have been increasing health premiums and out-of-pocket payments triggered by medical care. For Toms River and Monmouth residents -- many of whom are living paycheck to paycheck -- an insurance copay of $2,000 or $5,000 for a major surgery could absolutely ruin their finances for many years. In fact, according to the Kaiser Family Foundation, approximately 20 percent of U.S. citizens under the age of 65 who have health insurance say that they couldn't pay all of their medical bills last year.

If you or your family are currently suffering under a mountain of medical bills, know that you are not alone. Also know that you do not have to endure this situation. By filing for Chapter 13 or Chapter 7 bankruptcy, you might be able to resolve this debt quickly and affordably.

Source: Newsmax Health, "Even Insured Face Crushing Medical Debt, Despite Obamacare," Jan. 07, 2016

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At the law offices of William H. Oliver, Jr. & Associates in Toms River and Lakewood, New Jersey, we represent clients in Toms River, Neptune, Trenton, Middletown, Red Bank, Wall, Lakewood, Lakehurst, Manchester, Asbury Park, Old Bridge, Jamesburg, Barnegat, Forked River, Manahawkin, Ocean Township, Brick, Manasquan, Howell, Freehold, Hazlet, Bradley Beach, Brown Mills, Long Branch, Keansburg, Marlboro, Bayville, Beachwood, Whiting, Sayreville, South River, East Brunswick, Monmouth County, Ocean County, Middlesex County, Burlington County and Mercer County.