More bankruptcies expected if Obamacare repealed

bankruptcyIf Congress repeals Obamacare without a replacement, leaving millions without healthcare, some expect a rise in the number of bankruptcies. The number of uninsured is predicted to rise between 10 and 30 million people, depending on whether repeal or repeal and replace passes. For those struggling with medical bills already, losing insurance coverage would drive more people into bankruptcy, experts believe. Read more about the dilemma at The Atlantic.

Changes in healthcare could cause more bankruptcies

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MICRA puts an artificial cap of $250,000 on pain and suffering damages in cases involving medical malpractice.

Unexpected medical expenses are one of the leading causes of bankruptcies in America. One study by the American Medical Association found that 2/3 of bankruptcies cite medical expenses as a major issue. Some are concerned that changes to Obamacare could cause even more bankruptcies. Find out more in this story at Legal Scoops.