Another Bankruptcy Maker created ...

[cana]

health plans and financial services companies, fueled by the recent growth in high deductible health insurance policies, are now offering credit cards exclusively for health expenses with interest rates in some cases as high as 23 percent. And many consumers are already using conventional credit cards or other borrowing measures to meet medical expenses, as evidenced by research from Harvard Law Professor Elizabeth Warren that found nearly half of all personal bankruptcies resulted at least in part from medical expenses.Health care costs continue to outpace inflation, and a growing number of Americans are turning to credit cards to keep up. A recent survey of low- and middle-income households with credit card debt by Demos and the Center for Responsible Lending found that credit cards are becoming the new safety net: Seven of 10 households surveyed used credit cards to pay for basic living expenses, including medical care.