You acting like you have a "gotcha" moment is hilarious.
Published:Nov 6, 2018
Recent study calls it a "coming storm of broke elderly"
... this increased trend of bankrupt seniors is caused in part by the extremely high health care costs, in addition to the lower incomes they receive and the nationwide decline in pension fees.
The study also went on to point out that the cost of taking care of medical issues is a common theme recurring within the majority of elderly bankruptcy filers.
Thorne believes that although Medicare provides an excellent cover for older people's health costs, it does not cover everything ranging from extensive care, hearing aids, a lot of dental procedures, eye exams used to prescribe glasses and foot care.
Medicare sometimes also involves copays, coinsurance and some deductibles that are sometimes difficult for some seniors to afford.
Speaking to Thorne and her team, an older adult who had filed for bankruptcy before said,
"my bankruptcy started with back surgery. I had several medical tests that my insurance did not cover. This caused me to fall behind in my medical payments."
"The next thing I knew, the bills began piling up. I got to the point I owed more than I was making on Social Security."
These medical issues could also cause many older adults to lose their job, complicating their already terrible financial situation.
It took me 2 seconds to find this.
Stop being lazy.