According to Reuters:
Medical bills are behind more than 60 percent of U.S. personal bankruptcies, U.S. researchers reported on Thursday in a report they said demonstrates that healthcare reform is on the wrong track.
More than 75 percent of these bankrupt families had health insurance but still were overwhelmed by their medical debts, the team at Harvard Law School, Harvard Medical School and Ohio University reported in the American Journal of Medicine.
"Unless you're Warren Buffett, your family is just one serious illness away from bankruptcy," Harvard's Dr. David Himmelstein, an advocate for a single-payer health insurance program for the United States, said in a statement.
"For middle-class Americans, health insurance offers little protection," he added
There you have it! A clear example of the "virtues" of our wonderful private system. And ther are still people uniformed or cruel enough to defend this systme?!? Incredible!
It gets worse, Reuters continues:
The researchers and some consumer advocates said the study showed the proposals under the most serious consideration are unlikely to help many Americans. They are pressing for a so-called single payer plan, in which one agency, usually the government, coordinates health coverage.
"Expanding private insurance and calling it health reform will fail to prevent financial catastrophe for hundreds of thousands of Americans every year," Dr. Sidney Wolfe of the Health Research Group at Public Citizen said in a statement.
Let us be entirely honest ... Private Health insurance has no virtue whatsoever. The goal of a private insurer is to maximize profits and minimize costs. The way to do this is to hike up premiums, co-pays, and deductibles whenever possible, never cover those who are "high-risk" (anyone with a chronic or serious condition, and then find everyway possible to avoid paying as many health bills as you can - which of course means making the person who is paying for health insurance foot their health bills entirely by themselves.
The result is what we have: 47 million uninsured Americans, and over 60% of Bankruptcies caused by health care bills. This is shameful and inhuman and it is well-past time that things changed!