Medical bills play a role in 62% of bankruptcies, study says

A study by Harvard University researchers that shows a sizable increase over six years in bankruptcies caused in part by ever-higher medical expenses. The study found that medical bills, plus related problems such as lost wages for the ill and their caregivers, contributed to 62% of all bankruptcies filed in 2007. About 78% of bankruptcy filers burdened by healthcare expenses were insured, according to the survey.