Thursday, December 6, 2007

The Costs of Medicine

For those of us who think an insurance policy with $1 million lifetime coverage makes us safe from financial problems related to health care ... think again. That number was industry standard in the 1970's and treatment costs have soared since then. Today it's not uncommon to max out your insurance and still have huge medical bills.

According to a 2005 study 34% of adults have problems with their medical bills or have debt caused by medical expenses ... and 62% of those people had health insurance.

You've seen or heard about hospital bills that charge $20 for an aspirin, what's called bill padding. Hospitals claim it's their only defense against the aggressive cost-containment efforts of insurers and government agencies. Careful or you can get left holding the bag ... that holds your bill from the hospital.

The soaring cost of health care today is the reason it's going to be a major political issue in this election cycle ... and the reason more and more people are turning to complementary and alternative medicine.

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