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Did you know that medical bills are the #1 cause for bankruptcy?

By
Home Builder with The Flooring Girl

I didn't realize this until last week when I was writing an article for one of my clients:  How to sell your house fast when you have huge medical bills.  I guess when you think about it, it makes sense.  Medical bills can be huge, especially if you have a serious illness.

 

And, it often becomes a double whammy as you have large bills and often if you aren't well, you're not able to work, or else can't work to your full capacity.  It really can become a viscious cycle.

 

It just got me a little sad when I learned this.  I mean, I get it.  But still, it makes me sad.  Without getting political here (and please don't go there), I really wish for the day where our country solves this whole health care thing.  It's hard enough when you have a serious medical issue, but to have to worry about money at the same time or to worry about whether your care is being compromised?  Not good.

 

Anyway, I did learn a lot about things work in the process of my research.  I hope that my blog post is helpful to those that are in need and that they find it when they need help.

 

On a separate note, I wrote another article on my own blog about the Safest flooring options for older adults or those looking to age in place.  The idea behind this is to prevent falls.  Apparently, 25% of adults 65 and older fall each year, and of those 20% of  those falls results in a broken bone of head injury.  That is just staggering.

 

Broken bones are NOT fun.  I went through that myself 3 years ago with my foot.  And, if you are older...or if it's a larger bone (e.g. a hip), it can take much longer to heal.  Besides the fact that this isn't fun and it really impacts your mobility, it can really cost a lot of extra money, especially if you are older and need to pay for help.

 

So, this blog post strives to provide safety tips and the best types of flooring by room so that you are less likely to have a fall...and if you do have a fall, these types of flooring will give you some more cushioning and shock absorption.  I hope it comes in handy.

Comments (9)

Dave Halpern
Dave Halpern Real Estate Agent, Inc., Louisville, KY (502) 664-7827 - Louisville, KY
Louisville Short Sale Expert

I read your article in the link about flooring for elderly who are ageing in place. Your article is comprehensive and packed with great actionable ideas that can reduce catastrophic falls. Thank you for sharing.

Dec 21, 2017 05:21 PM
William Feela
WHISPERING PINES REALTY - North Branch, MN
Realtor, Whispering Pines Realty 651-674-5999 No.

I did know hat and that isd why many people say no to buying the ins.  They will just file bankruptcy

Dec 21, 2017 08:14 PM
Elizabeth Weintraub Sacramento Broker
Elizabeth Anne Weintraub, Broker - Sacramento, CA
Put 40 years of experience to work for you

Now that people are not required to buy health insurance, fewer will probably do so and more will go into debt, would be my guess. With bankruptcy, you can only file, last time I looked, every 6 1/2 years. Ongoing medical bills are so high that most people just can't afford care. It's easier to pay a lawyer a thousand bucks to file a Chapter 7.

Hey, what do you think of Marmoleum? That's what I have in my kitchen, and it's been in place for 10 years now without any issues. I know it's not completely waterproof like your suggested product but it does seem to have a cork base under it.

Dec 21, 2017 09:14 PM
Endre Barath, Jr.
Berkshire Hathaway HomeServices California Properties - Beverly Hills, CA
Realtor - Los Angeles Home Sales 310.486.1002

Only in this country, but in all fairness this is the only country where you do not have to wait three or four months to get a critical surgery done... England, Germany you would be dead... so the old saying what you pay is what you get, Endre

Dec 21, 2017 11:35 PM
Kat Palmiotti
eXp Commercial, Referral Divison - Kalispell, MT
Helping your Montana dreams take root

Health care is definitely very expensive, ridiculously so.

Dec 22, 2017 04:10 AM
Gabe Sanders
Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL
Stuart Florida Real Estate

Yes, I was aware of this.  And these bankruptcies actually cost us all money since the hospitals, credit card companies, banks, attorneys all charge us more to make up for the lost debts that will not be repaid.

Dec 22, 2017 06:01 AM
Mary Jo Quay
H360homes.com - Minneapolis, MN
I Move You Home

I represented a buyer on a home that a hospital foreclosed on. It was a foreclosed estate sale, where the hospital was owed more than the value of the home. We needed both the approval of a judge and the hospital to accept our offer, it was a longer process.  In Minnesota we have MN Sure which is a reduced cost medical program. In the fine print, it states that if the person owns a home, the hospital can put a lien on the home to recuperate expenses. Most people are unaware that they are required to pay back what the state spent on them, and it's not pretty.

 

Dec 25, 2017 09:57 AM
Debbie Gartner
The Flooring Girl - White Plains, NY
The Flooring Girl & Blog Stylist -Dynamo Marketers

All thanks so much for your comments and insights. I really appreciate you added perspective.

David so glad you liked my article I was telling my dad last night that I would send him a link because I think he needs to get a few of those items

Dec 25, 2017 03:46 PM
Georgie Hunter R(S) 58089
Hawai'i Life Real Estate Brokers - Haiku, HI
Maui Real Estate sales and lifestyle info

I wonder if cork floors are safer for landing on when you fall?

Dec 30, 2017 03:30 AM