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FORT LAUDERDALE, FL –News Direct– Debt.comIf inflation isn’t making you sick, it might be keeping you sick.Debt.com’s 2023 medical debt survey shows some worrisome increases over its 2022 results:This year, 67% reported that “inflation made it harder to pay medical bills.” That’s a significant jump from 57% the year before.Nearly a third (32%) said their medical bills were in collections this year. Last year, it was only 28%.Most concerning of all: 34% admitted they have been “avoiding medical care because of debt” – up from 28% in 2022.“Inflation may be subsiding, but the damage it wrought will stay with us for a long time,” says Debt.com founder and chairperson Howard Dvorkin, CPA. “Medical debt was a growing problem before inflation, even before the pandemic. Now it’s becoming a crisis.”Howard DvorkinCPA and chairman of Debt.comThe problem is so pervasive, it’s no longer a major illness that causes financial problems. It’s regular appointments with doctors – even more than going to the hospital or emergency room:2023 primary source of medical debtDoctor’s visit: 21%Hospitalization: 17%2020 primary source of medical debtDoctor’s visit: 15%Hospitalization: 25%The only good news in this year’s Debt.com survey is that the amount of medical debt is lower than in past years:2023 medical debt amountLess than $500: 56%$1,000 to $5,000: 15%2020 medical debt amountLess than $500: 20%$1,000 to $5,000: 34%Dvorkin believes these results show Americans are so financially stressed, they can no longer afford even the basic medical care. “Medical debt doesn’t exist in a vacuum. It’s quite likely that doctor’s visits have become harder to pay because Americans have many other debts they’re juggling. Credit card balances are approaching levels not seen i …
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