One of my sons is a bankruptcy lawyer. What brings most clients to him are medical bills. His experience is not unusual but typical. Harvard Law School professor Elizabeth Warren collected the statistics and learned that health emergencies cause half of all personal bankruptcies. (H/T to Avedon at The Sideshow.)
What, me worry? We’re covered. We’ve got health insurance. Oh, yeah? Good luck with that, buddy. Professor Warren’s got those numbers too. Seventy-five percent — three out of four — of Americans driven into bankruptcy by medical bills were just like you. Which is to say, insured.
Professor Warren’s conclusion::
“Anyone shy of the multimillionaires is just. not. safe.”