The researchers analyzed Bureau of Labor Statistics data of more than 12,500 people.
People are twice as likely to file for bankruptcy if their health insurance has been interrupted, according to a new study published this week. In fact, all it takes is a coverage gap within two years for the chance of bankruptcy to jump twofold, according to the study published by the American Bankruptcy Institute.
There’s already a “well established connection” between outstanding medical bills and consumer bankruptcies, the authors said, but there’s less consensus on what counts as medical debt and how many bankruptcy cases are filed because of those unmanageable health costs. Last month, Fifth Circuit judges heard arguments on whether to strike down the ACA after lawmakers repealed the penalty against individuals who didn’t have health insurance. Approximately 20 million people could lose their coverage if the law is ruled unconstitutional, according to advocates pushing to keep the law intact.See also: 1 in 4 cancer survivors is going broke fighting to stay alive
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