Healthcare costs for Americans are rising – and along with them, so is the percentage of medical bills or debt in collections.
A common misconception is that health insurance is a panacea for healthcare costs. But, that’s simply not true. While health insurance can cover a portion of healthcare costs, many Americans are still in debt from medical bills from high deductibles, out-of-network charges, or costs that are over their out-of-pocket maximums. For them, a prolonged illness or hospital stay can lead to financial crisis.
