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Medical Bankruptcy Statistics

Medical Bankruptcy Statistics in the U.S.

A stethoscope rests on credit cards representing the sad reality of medical bankruptcy statistics

The following medical bankruptcy statistics are the result of a national study by the Department of Medicine at Harvard Medical School. While the study is one of the most comprehensive of its kind, the medical bankruptcy statistics below are also debated by experts nationwide. Please see Medical Bankruptcy to learn more about the discussion.

Medical Bankruptcy Statistics

  • 62.1% of all bankruptcies in 2007 were caused by medical debt.
  • 92% of these medical debtors involved in a bankruptcy filing had medical debts over $5000, or 10% of pretax family income.
  • Three quarters of the individuals studied who filed for medical bankruptcy had health insurance.
  • Using identical definitions in 2001 and 2007, the share of bankruptcies attributable to medical problems rose by 49.6%.
  • In a logistic regression analysis controlling for demographic factors, the odds that a bankruptcy had a medical cause was 2.38 times higher in 2007 than in 2001.

Study Conclusion

Illness and medical bills contribute to a large and increasing share of U.S. bankruptcies.

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