This year, about $1.5 billion has landed in state and local government coffers from court settlements made with more than a dozen companies that manufactured, sold, or distributed prescription painkillers and were sued for ...
Dec 30, 2023
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On March 23, 2010, President Barack Obama signed the Affordable Care Act (ACA) into law with a stated goal of addressing the "crushing cost of health care… a cost that now causes a bankruptcy in America every 30 seconds."
May 1, 2020
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Medical bankruptcy has been a talking point for many Democratic candidates as they make their individual cases for health care reform. This begs a few questions about how widespread these bankruptcies are and what causes ...
Nov 22, 2019
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The company that has made billions selling the prescription painkiller OxyContin says it is considering bankruptcy as one of several possible legal options.
Mar 13, 2019
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A team of researchers led by an MIT economist has found that medical expenses account for roughly 4 percent of bankruptcy filings among nonelderly adults in the U.S.
Mar 21, 2018
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(HealthDay)—The staggering cost of cancer care forces many patients to file for bankruptcy, and that financial stress may play a role in cutting their lives short, new research suggests.
Jan 27, 2016
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Burdensomely high medical costs are often blamed for pushing many Americans into bankruptcy. According to the Consumer Financial Protection Bureau some 43 million Americans have unpaid medical debt on their credit reports.
Jan 28, 2015
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The US Supreme Court appeared divided on Monday as it heard a challenge to Purdue Pharma's $6 billion opioids settlement immunizing the Sackler family that controlled the drugmaker from future litigation.
Dec 4, 2023
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US pharmacy chain Rite Aid filed for bankruptcy Sunday, the company said, after suffering declining sales and legal threats over its alleged involvement in the opioid crisis.
Oct 16, 2023
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The US Supreme Court threw Purdue Pharma's $6 billion opioids settlement into question Thursday, accepting a challenge to the deal's immunizing the Sackler family, which controlled the drugmaker, from future litigation.
Aug 11, 2023
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Bankruptcy is a legally declared inability or impairment of ability of an individual or organization to pay its creditors. Creditors may file a bankruptcy petition against a debtor ("involuntary bankruptcy") in an effort to recoup a portion of what they are owed or initiate a restructuring. In the majority of cases, however, bankruptcy is initiated by the debtor (a "voluntary bankruptcy" that is filed by the insolvent individual or organization).
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