We represent 12 organizations—not every plan available in your area. Read full Medicare disclosure

Educational — not a plan quote or enrollment

Health costs, medical debt, and ways to reduce financial risk

Use the carousel for national context and general planning ideas. Statistics come from public research and reporting cited below; they are not predictions about your situation. For personalized Medicare or life insurance guidance in New York, contact a licensed agent.

Life insurance overview · Medicare Advantage · Plan finder quiz

Slide 1 of 7: Overview. What's The #1 Cause of Bankruptcy in America?

Why coverage matters

What's The #1 Cause of Bankruptcy in America?

Healthcare

Average Out-of-Pocket Healthcare Spending by Age

Bars show an illustrative relative pattern for education only (normalized index, not dollars from a single published table). National surveys such as MEPS underpin Peterson–KFF summaries; your actual out-of-pocket costs depend on coverage, health, and year.

Source: Kaiser Family Foundation / Peterson–KFF Health System Tracker (MEPS-based national reporting). For illustrative purposes only—these bars are a normalized educational pattern, not a verbatim chart extract. Out-of-pocket spending varies by individual circumstances. See Peterson–KFF Health System Tracker (MEPS context) for current data tools.

Educational only—not tax, legal, or investment advice. National summaries; your situation depends on coverage, health, and state law.

Research summaries (e.g. Business Insider on AJPH 2019) often cite medical expenses as a leading factor in a majority of bankruptcies—definitions vary; read primary sources.

Research often cites a figure around 66.5% for medical costs in bankruptcy filings. If you're eligible for Medicare, comparing plans for your doctors, drugs, and budget can reduce surprise costs—rules vary by plan and area.

We help eligible New Yorkers review options where we're appointed—free consultation, no obligation.

Check My Coverage Options →Medicare Advantage hub

We do not offer every plan available in your area. Currently we represent 12 organizations which offer Medicare Advantage HMO, PPO, PFFS, and PDP plans in your area. Please contact Medicare.gov, 1-800-MEDICARE (TTY: 1-877-486-2048), or your local State Health Insurance Assistance Program (SHIP) to get information on all of your options.

Sources & further reading

Full Medicare disclosure

SJM Insurance Services, LLC · Licensed health and life insurance brokerage in New York and New Jersey · #LB-1024797. We do not offer every plan available in your area. Any information we provide is limited to those plans we do offer in your area. Currently we represent 12 organizations which offer Medicare Advantage HMO, PPO, PFFS, and PDP plans in your area. Please contact Medicare.gov, 1-800-MEDICARE (TTY: 1-877-486-2048), or your local State Health Insurance Assistance Program (SHIP) to get information on all of your options. Not connected with or endorsed by the United States Government or the federal Medicare program. The Medicare plans represented are PDP, HMO, PPO, and PFFS plans that have a Medicare contract. Enrollment in these plans depends on the plan's contract renewal with Medicare. This is a solicitation for insurance.

Call (347) 696-6757