One of the most tragic stories we hear is an individual who is struck with a terrible illness that requires expensive treatments forcing the individual into financial ruin. These stories are very rare, and, in fact, most of us had not known anyone who was financially ruined. Why?
Unlike other services, most critical medical treatments given in a hospital are not billed until after the service is provided. Treatments cannot be denied based on financial ability to pay. Non-payment of medical bills can put a stain on the credit history, but most of these debts go unpaid without much more consequence. Bankruptcy courts routinely write off medical bills if the situation even goes that far.