Breaking Down the Costs | Health & Wealth: Why Americans Are Drowning in Medical Debt

Medical debt is a leading cause of bankruptcy in the United States and affects almost a third of working Americans. Marketplace Morning Report Host David Brancaccio breaks down the costs of the $4.3 trillion dollar industry along with MPR Host Angela Davis, Health Economist Jennifer Schultz and Consumer Rights Advocate Allison Sesso.

[@zippyroger3460]

The high deductible healthcare plans are a dangerous deterrent to needed medical care. In the last year both my wife and I have had important medical issues and we have both maxed out our deductibles. The hospital demands we make a payment plan with a 2 year term. This is financially difficult and demoralizing. Knowing another trip to the hospital will cost 7K will critically dissuade me from getting care I need. Entering into the medical cost nightmare for the first time is really scary. We will get through this event, but future medical events are very capable of destroying any wealth we manage to accumulate. Campaign finance reform is the only path forward I see. Companies might be people but they never seem to reach their maximum out of pocket.

[@51isALL]

5:17 Black American! not "People of Color" Be specific.