The COVID-19 pandemic has swamped many Americans with medical debts and huge bills which is not easy for them to pay. Due to a decrease in the income and overall economy of the country, this pandemic situation has influenced every single individual in this world.
Many Have Now Swamped By Medical Debt After The Pandemic
More than fifty percent of the people who were getting infected with coronavirus and lost their jobs have been struggling with huge medical debts and bills which they have to pay to the hospitals and banks, found by one new research. They have also found that many of them had taken insurance policy which helped them to maintain at least some amount after the insurance coverage.
There are also a few service providers who did not cover the disease and hence many of the patients had to pay hefty medical bills from their pocket which impacted their financial conditions to a great extent. Those who had some savings could manage the bills to some extent and many others had to go for loans and debts to pay the same which has led to a poor financial condition even when things have improved.
However, more than 60 percent of Americans are facing issues and struggling to pay their medical debts. Also, those who had medical insurance are facing problems as the cost of COVID-19 treatment and requirements are high. Most people had lost their regular source of income due to lockdown and fear of getting infected lost their insurance which was provided by their employers.
The report is high for those people ages 19 to 65 and infected by the virus. It has included both students and regular working employees who lost their regular source of income. It left them got indulged in a huge risk of health as well as lack of financial support. They have more medical debts as compared to those people who did not get infected by the coronavirus.
This is a very common and significant issue which are facing by citizens of the United States. Some changes have been suggested by Sara Collins who is the vice president of health care. She has suggested that we should change our perspective towards the medical debt by changing the addresses.
Now, according to the study and the analysis found by researchers, they have mentioned some key points:
- Hispanic and Black people were more influenced by this pandemic as they lose their income and had to pay huge medical bills.
- Around one-third of the United States, people reported that they have lost their jobs and source of income due to pandemics. Especially Hispanic and black people were hit harder because of this situation.
- Those people who had the insurance coverage by their employer were also faced issues as the bills were higher and did not meet their expectations.
This study was conducted from March to June with almost 5000+ adults aged from 19 to 65 in the United States.
Below are some steps which they can follow to get some help in paying debts:
- Check any errors in their medical bills.
- They can negotiate their bills with insurance companies or hospitals.
- They can seek help from non-for-profit organizations or healthcare institutions to cancel their bills.
- They should read and understand various medical debt programs for relief and extra funds. Due to this pandemic, most countries have announced special schemes for their citizens.
- You can contact your department of health insurance to forgive or reduce the bills.
These are the certain things you can do to pay your bills and get rid of your medical debts.