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Medical debt remains a constant concern for many in Oregon

| Feb 15, 2018 | Medical Debt

A medical emergency can occur at any moment and could have a substantial impact on a person’s health. When experiencing such an event, it may be necessary for a person in Oregon to seek treatment as soon as possible. Unfortunately, the extensive costs of treatment could leave many individuals fearing medical debt more than the threat a condition poses to their health.

With health care costs continually on the rise, studies suggest that many individuals may have greater fear of receiving a bill for treatment than they do of being diagnosed with a major condition. This remains a concern even for those who carry health insurance, as their plan might not be sufficient enough to cover the full cost of treatment. However, while rising health care costs may be imposing enough, studies assert this isn’t the only issue one might face.

According to the study, a great deal of individuals simply don’t have enough money in savings to cover a hospital visit, even for a lesser condition. The study suggests that by attempting to build a financial safety net, one could become better prepared should an emergency occur. However, even for those who have funds stashed away for similar circumstances, even a simple medical procedure can be costly and could wreak havoc on a person’s finances.

Medical debt continues to be one of the leading causes for monetary issues among many individuals in Oregon. Those who suffer under the weight of such debt could choose to pursue relief by consulting with an experienced attorney. A bankruptcy attorney can provide a client with guidance on all the options available and assist him or her in choosing the correct path with which to pursue financial relief.

Source: fool.com, “More Than Half of Americans Fear Medical Bills as Much as Health Issues Themselves“, Maurie Backman, Feb. 5, 2018

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The Law Office of Kim Covington is a debt relief agency, and I have helped families, individuals and small businesses, file for bankruptcy relief under the U.S. Bankruptcy Code, for over 19 years.