The U.S. is the only first world country in which you can go bankrupt for having the audacity to get sick and/or to grow old.

Medical dept has been a leading cause for bankruptcies in the U.S. for years. One Harvard study found that 62% of personal bankruptcies were due to medical expenses.

Even those with health insurance in the U.S. can face tremendous costs and medical debt; 78% of the bankruptcy filers in the study above had some form of health insurance.

It is only in the U.S. that one is deemed worthy of health insurance only if they are employed – and only in certain professions. The exceptions are those who have served and are eligible for VA benefits, and seniors eligible for Medicare and Medicaid. The ACA has also greatly expanded the number of people who can get insurance, too.

I have just received word that my job is being eliminated. Like millions going through job transition, I will be facing the prospect of a gap in medical coverage for myself and my family depending on how long it takes me to find another job. If I purchase health insurance through COBRA, my costs for premiums alone will triple. Any costs for deductibles, etc. would be above and beyond that. My dental coverage premium under COBRA will more than quadruple.

Everyone knows someone who is working simply because they need health insurance – even bad insurance. Certainly the U.S. can do better. We pay more, cover less, and have worse health outcomes than most of the 1st world.