Widespread medical debt is a uniquely American problem, with medical debt totaling at least $195 billion in 2019. It was once thought that the problem was that Americans were largely uninsured, but even those with health coverage can run into problems. Over 90% of the U.S. population has some kind of medical insurance but about 40% of adults say they have at least $250 in medical debt. Watch the video above to learn how we got here and why having health insurance isn’t enough to protect people from medical debt.
Produced by: Charlotte Morabito
Graphics by: Josh Kalven
Supervising Producer: Lindsey Jacobson
Additional Sources: Kaiser Family Foundation, Journal of the American Medical Association, U.S. Bureau of Labor Statistics, U.S. Centers for Medicare & Medicaid
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Why Americans Have So Much Medical Debt
Why Americans Have So Much Medical Debt
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CNBCCNBC originalfinancefinancial newsbusinessbusiness newsmedical debtmedical costshealth costsus health carewhy is health care so expensive in the usus health care systemmedical debt bankruptcypersonal financehistory of insuranceObamacareaffordable care actactpatients rightsno surprises actsurprise billsout of networkin networkhmopopmedical insurancepaying for medical bill