Blame is heaped on people not managing their finances well, and overzealous mortgage brokers trying to make a quick buck, as the chief cause of bankruptcies. But a Harvard Study reports that 47% of bankruptcies are a result of medical bills due to illness or injury, even when people have medical insurance.

While the home financing industry is far from perfect, it is a shame that the medical insurance industry is not properly serving its customers. People seeking medical assistance are often in no position to shop around and find the doctor or treatment that is the most cost effective. The cost is not the first question. Of greater concern in the heat of the moment is whether the patient can be cured. How can insurance agents avoid over-insuring policy holders yet protect them from a catastrophic medical emergency from ruining them financially?

Some of the drug commercials broadcast on television these days seem to have side effects worse than those medical conditions they are meant to treat. Is bankruptcy another side effect to some of those patients?