Medical debt is debt that is the result of health care costs and other such medical expenses.
Health insurance plans will typically cover some or nearly all of the costs of medications, treatments, or medical procedures. However, with the cost of health insurance rising, many people are finding themselves reaching into their own pockets to pay for their medical needs.
Medical debt may be more problematic than other types of debt because it is often incurred unintentionally (for example, in an accident). In addition, individuals who must rely on medications or other medical treatments will bear a bigger burden.
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