Navigation Links
A 50% Increase in Medical Bankruptcies - A Worry for Adults Assisting Aging Parents
Date:6/19/2009

LANSING, Mich., June 19 /PRNewswire-USNewswire/ -- A new study released in the American Journal of Medicine http://pnhp.org/new_bankruptcy_study/Bankruptcy-2009.pdf, reported that bankruptcies due to medical debt rose 50% from 2001 to 2007. Elder Law of Michigan experienced a similar rise in the calls for help from older adults who are desperate for relief from high debt accumulated from family illnesses. It is a critical short term problem, but for people approaching or in retirement, the situation is devastating. The combination of lost jobs, premature forced retirement, diminished returns on investments for retirement and the personal and economic pain of bankruptcy wipes out security in retirement and forces many from the middle class into a grueling struggle to maintain their homes and stay independent.

As adult children start to assist parents or other family members as they need help later in life, the magnitude of the debt can be shocking and stressful. The trauma older adults face as they consider bankruptcy can jeopardize their physical and mental health, complicating an already difficult situation. Worries about supporting the elder after bankruptcy can also be a big concern.

A partial solution is to call the Legal Hotline for Michigan Seniors' Benefit Enrollment Center at 800-347-5297. For people over 60 with declining income, the Hotline may be able to find income supports and other programs to help older adults maintain at least a basic level of economic security to cover primary needs like healthcare, prescription drugs, utilities and groceries. The service is free and assistance in applying for programs is available. For many families, the screening opens up a new world of help and economic security. A website is also available for families that want to screen themselves. Visit www.elderlawofmi.org/legalhotline. See the middle of the page for the Benefit Enrollment Center screening tool.


'/>"/>
SOURCE Elder Law of Michigan, Inc.
Copyright©2009 PR Newswire.
All rights reserved

Related medicine news :

1. Smoking may strongly increase long-term risk of eye disease
2. Diabetes appears to increase risk of death for patients with acute coronary syndromes
3. Prophylactic cranial irradiation in small cell lung cancer significantly increases survival
4. Fat on chest and upper back increases risk of insulin resistance
5. Ability to cope with stress can increase good cholesterol in older white men, study finds
6. Handling Stress Properly Increases Good Cholesterol
7. High alcohol consumption increases stroke risk among Chinese men
8. High alcohol consumption increases stroke risk, Tulane study says
9. Increased distance to physician associated with thicker skin cancer at diagnosis
10. Genetic predisposition increases childhood asthma risk
11. Smoking increases risks for head and neck cancers for men and women
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:6/27/2016)... ... June 27, 2016 , ... ... strategic partnership with Connance, a healthcare industry leader providing predictive analytics to ... technology combine to provide health systems, hospitals and ambulatory surgical centers with ...
(Date:6/26/2016)... ... June 26, 2016 , ... Pixel Film Studios Released ProSlice Levels, ... editors can give their videos a whole new perspective by using the title ... Pixel Film Studios. , ProSlice Levels contains over 30 Different presets to choose ...
(Date:6/25/2016)... ... 25, 2016 , ... Austin residents seeking Mohs surgery services, can now turn ... to Dr. Russell Peckham for medical and surgical dermatology. , Dr. Dorsey brings specialization ... selective fellowship in Mohs Micrographic Surgery completed by Dr. Dorsey was under the direction ...
(Date:6/25/2016)... ... June 25, 2016 , ... Dr. ... from injury. Recently, he has implemented orthobiologic procedures as a method for treating ... one of the first doctors to perform the treatment. Orthobiologics are substances that ...
(Date:6/24/2016)... ... June 24, 2016 , ... June 19, 2016 is World ... with chronic pain and the benefits of holistic treatments, Serenity Recovery Center ... with Sickle Cell Disease. , Sickle Cell Disease (SCD) is a disorder of the ...
Breaking Medicine News(10 mins):
(Date:6/24/2016)... 2016   Bay Area Lyme Foundation , ... Center for Tick Borne Illness , Harvard Medical ... Hacking Medicine, University of California, Berkeley, and the ... five finalists of Lyme Innovation , the ... 100 scientists, clinicians, researchers, entrepreneurs, and investors from ...
(Date:6/24/2016)... 2016 The Academy of Managed Care Pharmacy ... that would allow biopharmaceutical companies to more easily share ... formulary and coverage decisions, a move that addresses the ... The recommendations address restrictions in the sharing ... drug label, a prohibition that hinders decision makers from ...
(Date:6/24/2016)... , June 24, 2016 Research ... World Market for Companion Diagnostic Tests" report to their ... Market for Companion Diagnostics The World Market ... and personalized medicine diagnostics. Market analysis in the report includes ... Test Market (In Vitro Diagnostic Kits) by Region (N. America, ...
Breaking Medicine Technology: