Supreme Court hears final arguments for healthcare law, but will this reduce medical bankruptcies

Today, the Supreme Court hears their last day of testimony in the constitutionality of the Healthcare mandate, which would require every American to purchase health insurance or pay a tax penalty. While many people oppose the Affordable Healthcare Act, there are others who approve of the legislation and don’t feel like goes far enough. One question remains, will this help reduce medical bankruptcies?

The percentage of Americans, who must retain bankruptcy attorneys and file for debt protection because of medical bills, is above 50 percent. There are millions of uninsured people in the country and this number has been climbing, while medical costs are reaching new highs. Though a national healthcare system that allows everyone low cost health insurance would help those who have medical problems, it would not prevent medical bankruptcies.

Unfortunately, many of the people who file for bankruptcy do so even though they have insurance. A study conducted by the Physicians for National Healthcare, who lobbied Congress to pass The Affordable Care Act, found that 78 percent of the people who retained a bankruptcy lawyer had health insurance at the onset of their illness.

The biggest benefit of the Affordable Healthcare Act would be in the form of preventative care, which in the long run could keep a health issue from getting worse. But the real issue of preventing a person from needing a bankruptcy lawyer because of an illness is the cost of medical care. This is a central issue to the Affordable Care Act, and the current administration believes that with every American contributing to the healthcare system it would help the costs of medical care come down and prevent the insured and uninsured from going bankrupt if they become ill.