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:2/22/2017)... ... February 22, 2017 , ... Doctors on Liens is continuing its ... Dr. Steven H. Rauchman, practicing at North Valley Eye Medical Group in Mission ... premise liability and other personal injury cases. These injuries have a major impact ...
(Date:2/22/2017)... ... February 22, 2017 , ... The first-ever National ... organizations, advocates, and individuals join together to increase recognition about the risks of ... lives. , “Today we mark a nationwide movement to raise awareness about a ...
(Date:2/22/2017)... TX (PRWEB) , ... February 22, 2017 , ... ... the launch of ProGen™ PRP, the latest innovation in the delivery of Platelet ... wound care, aesthetics, cardiovascular and pain management, to accelerate tissue synthesis and provide ...
(Date:2/22/2017)... CT (PRWEB) , ... February 22, 2017 , ... The ... and the 2017 Forecast —on Thursday, February 23, 2017, at 1:00 PM ET. A ... webinar is part of the Interactive Webinar Series. , If you want to find ...
(Date:2/22/2017)... , ... February 22, 2017 , ... ... veterans who suffer from combat-related PTSD. , Established in 1977, our organization was ... the challenges of military returning to civilian life were evident and served as ...
Breaking Medicine News(10 mins):
(Date:2/22/2017)... , Feb 22, 2017 Research and Markets ... Analysis & Trends - Industry Forecast to 2025" report to their ... The Global Clot ... 5.2% over the next decade to reach approximately $2.1 billion by 2025. ... forecasts for all the given segments on global as well as regional ...
(Date:2/22/2017)... Research and Markets has announced the addition of the ... Trend Indicator):Analysis By Region, By Country (2016-21)" report to their ... Global ... CAGR of 5.33% during 2016-2021 The strong growth is ... demand of digital thermometer. Apart from that, the downfall in the ...
(Date:2/22/2017)... DUBLIN , Feb. 22, 2017  Allergan ... is proud to be a Gold sponsor of ... National Educating America Tour." This tour commemorates AFA,s15 ... availability of services and programs. The tour will ... free memory screenings and displays of the AFA ...
Breaking Medicine Technology: