02/06/2024 / By Laura Harris
Several reports from different organizations backed the claims of Lamont and proved that the medical debt crisis is gripping America.
National data from the Centers for Disease Control and Prevention (CDC) in 2021 revealed that 10.8 percent of Americans struggled to pay their medical bills in 2023. A KFF-Peterson Health System Tracker analysis estimated that around 23 million adults or nine percent of the adult population, owed more than $250 in health costs.
“People who have medical debt may pay off these bills by taking on other forms of debt, including credit cards and bank loans, or negotiate payment plans with healthcare providers, or just fail to pay them. However, medical debt continues to be the major form of debt in the United States,” the report reads.
A 2022 report conducted by the Consumer Financial Protection Bureau (CFPB) identified medical debt as the leading cause of bankruptcy in the United States, which impacts around 20 percent of Americans or roughly 66 million people. (Related: National debt hits record-high $32 trillion two weeks after suspension of debt ceiling.)
Learn more about America’s debt situation at DebtBomb.news.
Watch the video below where ITM Trading Chief Market Analyst Lynette Zang talks about the impending debt crisis.
This video is from the What is Happening channel on Brighteon.com.
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