The Senate Health Care Bill Could Lead to More Personal Bankruptcies

The revised health care bill drafted behind closed doors by Senate Republicans includes massive cuts to Medicaid that would leave 15 million fewer people enrolled in the program by 2026, according to the Congressional Budget Report released Monday.

Those drastic cuts could result in more personal bankruptcy filings from Americans, reversing course from a decrease after the Affordable Care Act was implemented, health care and bankruptcy experts said.

Unpaid and costly medical bills are a significant contributor in the decision to file for bankruptcy, experts said. And even if the finanical distress from being uninsured doesn’t send someone into bankruptcy, high and sometimes unexpected medical costs can still send Americans into a lot of debt.

“The evidence here is to the point where it feels like a pretty robust fact,” said Matthew Notowidigdo, an associated professor of economics at Northwestern University who specializes in health and labor economics.

https://www.msn.com/en-us/money/healthcare/the-senate-health-care-bill-could-lead-to-more-personal-bankruptcies/ar-BBDiu4a?li=BBnb7Kz&ocid=edgsp