With the Affordable Care Act in full effect, many analysts question whether the new health reform law can remedy this alarming trend of outstanding medical debt.
While it’s still too soon to accurately predict the long-term effects of ACA, new research suggests its implementation could nudge the country in the right direction, thanks in part to the termination of annual and lifetime spending caps. Then again, many families are facing much higher premiums under ACA. A Manhattan Institute Study has found under the American Care Act individual market premiums will increase by an average of 41%.
Take a look at the following infographic which provides a visual look at the medical bankruptcy problem in the US.
[Click image for full size version]