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The Effects Of Health On Wealth: Major Illness Leads To Financial Catastrophe For The Uninsured

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Executive Summary

Lack of insurance is at the heart of the healthcare debate with 4.2 million uninsured Americans over 55. Research provides compelling evidence of the financial damage for these families. Despite a person's income, the uninsured face the risk of losing their retirement savings. The uninsured, near-elderly age group is particularly at risk because they have accumulated significant assets intended for retirement and have fewer opportunities to rebuild if they lose assets due to illness.

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