It's been nearly a year and a half since federal health insurance reform passed. But it doesn't take full effect until next year. And in the meantime, medical bills continue to be a major factor in the decision to file for bankruptcy.
In fact, the role of medical debt in bankruptcy is actually increasing. The percentage of people who identify healthcare debt as the main reason for seeking bankruptcy protection is now at 20 percent, according to a recent analysis by CredAbility, a nonprofit agency that does credit counseling. Only two years ago, that figure was only 12 to 13 percent.