Study: More Than Half Of U.S. Bankruptcies From Medical Bills

In an economy where many Americans are living paycheck to paycheck, imagine a $10,000 medical bill or even $50,000. That is at the low end of the medical bills some patients are piling up. A study in the American Journal of Medicine says most Americans are just one major illness away from bankruptcy. The report reveals that 62% of all bankruptcies are credited to medical bills. It's a sad reality, especially for people who appear seemingly healthy and suddenly find out they have a terminal illness - as Sharon Ferrell did. The then 40-year-old woman had a routine health check up in 2010. In two years, she has gone from being a preschool teacher to homeless. These days all she has to her name are medical bills.

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