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February 14, 2005

Study links illness to bankruptcies Health insurance ultimately proves of little help

bankrupt.jpgCostly illnesses trigger about half of all personal bankruptcies, and most of those who go bankrupt because of medical problems have health insurance, according to findings from a Harvard University study to be released today.

Researchers from Harvard's law and medical schools said the findings underscore the inadequacy of many private insurance plans that offer worst-case catastrophic coverage, but little financial security for less severe illnesses.

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Posted by Tom Troceen