Even with health insurance, the cost of medical care is steep. It can be even more costly for those in Louisiana who have policies that don’t cover their needs or have significant gaps in coverage. A survey taken this year found that as many as two-thirds of working adults considered their health coverage to be unstable. Around one-third of those surveyed are carrying medical debt.

A more in-depth look at the problem found that as many as 43% of working adults did not have insurance, were underinsured or had significant gaps in their coverage. While this was a problem for many before this year, it is even more concerning as many are out-of-work or facing other unprecedented financial complications.

Those without medical coverage will have to pay for their health care needs out of pocket. Additionally, those who are underinsured may find they receive unexpected medical bills after a surgery, emergency room visit or necessary medical treatment.  Many Americans who have been uninsured or underinsured, even intermittently, have medical debt. This type of debt often catches Louisiana consumers off-guard, leaving them struggling to manage new payments and expenses on top of their normal financial obligations.

Medical debt is one of the many reasons why a consumer may consider the benefits of Chapter 7 bankruptcy. This legal option allows an applicant to enjoy a reprieve from creditors and debt collection efforts. It will also result in the discharge of many different types of unsecured debt, including medical bills. Chapter 7 bankruptcy can offer an individual the opportunity to regain his or her financial footing and long-term stability.