How reasonable is the fear of medical bankruptcy?
It seems like everyone talks about US healthcare as if we are all one medical emergency away from bankruptcy, even with good insurance. How does an insured US citizen compare to a UK resident with NHS coverage?
My spouse and I are mid-40s, empty nest, US citizens, with combined income (after she finishes her program) around $150k. We have the opportunity to move to the UK in a few years, which we've always wanted to do for a number of reasons, not least of which is fear of medical bankruptcy, though our combined income would go down significantly. We just always worry that one of us will need serious care somewhere down the line (she has a history of cancer in her family, possibly an autoimmune issue, I have Alzheimer's in my family, and anyone can get a TBI). It's my understanding that insured US medical debt often stems from necessary procedures that are not covered in network. Is the UK NHS (particularly Scotland, which funds its own NHS) with a side of private coverage better about this? There are no premiums nor co-pays, but does it cover more procedures than the average US insurance plan? Or would we be better off/safer staying in the US and paying for the best plan through my workplace?
submitted by /u/AerosolHubris
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