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EVENT:
President Barack Obama yesterday told the American Medical Association -- the main US doctors' association -- that inaction on healthcare reform would lead to "an escalating burden on our families and businesses".
SIGNIFICANCE:
New research has found that the proportion of US bankruptcies caused by medical bills, in whole or in part, was rising even before the economic recession took hold. The current crisis will exacerbate this situation, as the unemployment rate and the number of uninsured households increase, pushing those who lack insurance or who have 'insurance gaps' into financial distress.
Word Count (approx): 975
Headings
- Medical bankruptcy surge
- Primary causes
- Insurance gaps
- 'Under-insurance'
- Vulnerability to recession
- Income shocks
- Health insurance
- Political impact
Primary Keywords: NA, United States, economy, industry, employment, health, insurance, reform
Secondary Keywords: corporate, government, legislation
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