Interesting Insights…
[This post in no way should be read as we are close to this situation. All comments are merely thoughts and observations of the us during this past few weeks.]
Recently I have begun to track my spending via mint.com. And one of the catergories is “health”. So needless to say, this has become a more prominent category for June and July compared to other months. This got me thinking about how something like this can ruin a person – which is actually what the research shows. Medical issues is the main cause of bankruptcy and most of the cases have insurance. {You can read oneof the many articles here.)
What I thought about is all the doctors visits, parking, time off work (doesn’t really affect me) and then going out on disability (fraction of your pay). For anyone living paycheck to paycheck or with minimal savings, this could be catastrophic, especially in this economy.
It was quite eye-opening. For us at least now that we are “in the system.”