Medical debt is the leading cause of personal bankruptcy in the United States. A recent report estimated that more than half of all bankruptcies were due at least in part to medical expenses even among those with health insurance. In fact, three-quarters of those filing for bankruptcy had some form of insurance coverage when they incurred their medical debts. The high cost of healthcare and lack of adequate coverage means that many people simply cannot afford the necessary treatments and procedures leading them down a path toward financial ruin.

There are numerous factors contributing to this crisis: rising healthcare costs; inadequate health insurance plans; limited access to care; increasing numbers of uninsured; and high out-of-pocket expenses for those with insurance coverage. All these elements combine into an overwhelming burden for individuals and families struggling under the weight of mounting medical debt.

There is hope, however: federal programs such as Medicaid offer assistance for qualifying individuals who meet certain income requirements while private charities may be able to provide financial relief depending on individual circumstances. Additionally, hospitals often have programs designed specifically for low-income patients which can help reduce or even eliminate out-of-pocket expenses associated with care received there but again, eligibility criteria must be met before any benefits are available. These options can provide much-needed relief in times when finances become especially strained due to unexpected medical bills or treatments not covered by health insurance plans.

For those facing crushing healthcare debts however, seeking legal advice may be the best option available as there may be ways in which creditors can be persuaded not to take legal action against a debtor unable to pay what he owes them back or at least agree upon some kind payment schedule. Ultimately though, it’s clear that drastic reform needs to take place if we’re ever going to get serious about tackling this problem head-on until then unfortunately, too many Americans will find themselves pushed into an unsustainable cycle of debt from which they cannot escape without outside help or intervention.