It's often cited in surveys as the #1 cause of bankruptcies in the U.S. How prevalent do you think medical debt is for American adults? 

Answer: 29%

 Questions: 

• Why might people with health insurance still end up with medical debt?
• How might carrying medical debt influence someone’s other decisions like buying a car or continuing their education?
• Do you think medical debt appear on credit reports?

Click here for the ready-to-go slides for this Question of the Day that you can use in your classroom.

Behind the numbers (The Commonwealth Fund): 

"Costs prevent many Americans from seeking health care, and those who do get care often leave the hospital or doctor’s office with bills they cannot pay. We asked people whether they had medical bills or debt of any kind that they were paying off over time, including dental, home health, or long-term care. Three in 10 reported they were paying off medical debt, with underinsured adults reporting this at the highest rate.

Of survey respondents with employer coverage, those with low and moderate income reported paying off medical debt at higher rates than those with higher income. People in employer plans and the individual market and marketplaces reported significantly higher rates of medical debt than people who had Medicaid."

About the Author

Dave Martin

Dave joins NGPF with 15 years of teaching experience in math and computer science. After joining the New York City Teaching Fellows program and earning a Master's degree in Education from Pace University, his teaching career has taken him to New York, New Jersey and a summer in the north of Ghana. Dave firmly believes that financial literacy is vital to creating well-rounded students that are prepared for a complex and highly competitive world. During what free time two young daughters will allow, Dave enjoys video games, Dungeons & Dragons, cooking, gardening, and taking naps.