Bankruptcy Rates Rise With Cost Of Medical Care And Insurance
ABINGTON, Pa. (CBS) – As bankruptcy rates rise during these tough economic times, more people claim medical bills are pushing their finances over the edge.
Health care costs continue to climb while many paychecks remain the same or get smaller.
Michael Walsh, senior vice president of finance at Abington Memorial Hospital in Montgomery County, says health care facilities are seeing the results.
“We’ve seen everything from patients putting off care, struggling with high deductibles and co-pays and patients needing help to pay those bills.”
He says the number of people asking the hospital for help in paying bills has increased along with the patient’s deductibles and co-pays.
Reported by Lynne Adkins, KYW Newsradio 1060