“When you get really sick, the medical bills may not be your biggest financial shock,” Margot Sanger-Katz writes over at The New York Times. New research shows that for a substantial fraction of Americans, a trip to the hospital can mean a permanent reduction in income. Some people bounce right back, but many never work as much again. On average, people in their 50s who are admitted to the hospital will experience a 20 percent drop in income that persists for years. Over all, income losses dwarfed the direct costs of medical care. The pattern and impact are comparable to what happens to workers at a mill when it closes. The authors of the paper, published in The American Economic Review, were surprised by how often an illness or injury could upend the finances of Americans with health insurance.” Margot Sanger-Katz, “Getting Sick Can Be Really Expensive, Even for the Insured,” The New York Times.
Getting sick can be really expensive, even for the insured: The New York Times