They say that the average US Citizen only has enough money in savings for an average of 4-5 weeks with no income. If the money stops coming in they are financially bankrupt. That includes the balances on their credit cards and any home equity lines of credit, which these days are almost non-existent. Just imagine losing your job at a time like this, and many Americans are due to hard economic times and large corporations trimming jobs and announcing huge lay-offs.
Now suppose you get sick or a family member has a huge problem, one which either your insurance will not cover or you never had medical insurance in the first place. You will not be able to pay the medical bills and you will be forced into bankruptcy. The health care system in America is broken and the prices have become so high that it's hardly viable. In fact, more and more people are filing bankruptcy due to medical bills that they cannot pay.
Did you know the medical bankruptcies are the most common of all reasons for folks filing bankruptcies? It's true and they are up by a huge margin, especially in places with lots of senior citizens like Arizona and Florida. The American consumer is already tapped out due to credit card debt, high food prices, increased drug costs, outrageous gasoline prices and when one little medical emergency comes along, it puts them in the poor house.
Medical bankruptcies are out of control and in some areas they are up by 300% over the last three-years alone. And you thought that the mortgage crisis was a big deal, sure it is, but after you have a medical emergency in your family, I bet your thoughts change on this issue. Please be thinking here and be smart about your health care costs and insurance.
"Lance Winslow" - Lance Winslow's Bio. If you have innovative thoughts and unique perspectives, come think with Lance; http://www.WorldThinkTank.net/.
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