The theme of my day yesterday was health care. First, I read this blood pressure spiking article from Pro Publica. Remember when I mentioned payday lending? Well, it’s the same idea—leeching off of the very people who can least afford it—except with medical debt.
In 2013, 79,000 debt collection lawsuits were filed in Nebraska, a state with fewer than 2 million residents. One collection agency in the state files an average of 120 lawsuits a day. The charges are often less than $100, but the judgements tack on court costs, attorney fees and interest, so for example one bill for $66 became $275. The collection agency then proceeds to relentlessly seize meager bank accounts and garnish the wages of low income people. Nice racket, right?
Nebraska may be the most egregious outlier among the 50 states, but it is hardly alone. The number one cause of personal bankruptcy in the US is medical debt; it results in more collection actions than credit cards. And the majority of bankruptcy filers have some type of health insurance.
This is your health care on capitalism.