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Affordable Care Act will not eliminate overwhelming medical debt


A great deal of controversy surrounded the creation of the Affordable Care Act. This piece of legislation, also known as “Obamacare” remains a subject of controversy for various reasons even though it has been passed successfully, has survived numerous attempts to repeal it and has been upheld by the Supreme Court. And even though many Americans have some certainly understandable concerns about this law, it seems as though it is here to stay.

The Affordable Care Act is accomplishing many of the goals that lawmakers set out to address in regards to the ways in which the American healthcare system currently functions. For example, millions of U.S. residents who previously could not obtain or afford health insurance are now eligible for affordable coverage. However, this development does not mean that medical care itself is suddenly more affordable.

Depending on the type of insurance one carries, coverage can greatly help to mitigate the impact of significant medical bills. However, many necessary treatments remain uncovered by insurance plans, co-payments and deductibles remain high on numerous plans and expensive hospital stays may remain expensive despite the fact that the affected patient has insurance.

The Affordable Care Act may indeed have numerous benefits and drawbacks. But one clear drawback to the law is that it does not properly address the skyrocketing costs of medical care. It is now a well-known fact that the number one reason that Americans file for bankruptcy is that they have been impacted by an unexpected illness or injury and need to discharge medical debt. This reality is unlikely to change in the near future.

As a result, it is important that regardless of whether or not you have insurance coverage that you contact an experienced bankruptcy attorney in the event that your medical debt has become overwhelming. An attorney can explain to you all the debt relief options that you may have at your disposal.

Source: USA Today, " Medical debt will persist despite health law," Jayne O'Donnell and Paul Overberg, Jan. 15, 2013