Conyers: Sharp Increase in Medical Bankruptcies Requires Immediate Action on Health Insurance Reform Legislation

Today House Judiciary Committee Chairman John Conyers, Jr. (D-Mich.) called for a renewed effort to pass health care reform as bankruptcies due to medical debt are sharply on the rise. At a Judiciary Subcommittee hearing entitled, "Medical Debt: Is Our Healthcare System Bankrupting Americans?," the results of a new study were examined and experts on bankruptcy, including Elizabeth Edwards, testified about the impact of increased healthcare related bankruptcies.

"The last two years have witnessed a dramatic increase in personal bankruptcies resulting from medical expenses," said Conyers. "In fact, such bankruptcies now account for 62% of all bankruptcies, up from nearly 50% in 2001. Even more remarkable is that three-quarters of all medically-related bankruptcies involve those who have health insurance.

"This surge in bankruptcies for those already insured reinforces why health insurance reform is desperately needed. Our health care system, as it exists, is not sustainable. We need a comprehensive overhaul to ensure families don’t endure financial ruin just to stay healthy."

For more information about the hearing, and the full statements submitted by the witnesses, go to http://judiciary.house.gov/hearings/hear_090728.html