A March opinion column in SC Times noted, “Times have not been good for farmers the past several years. Just outside of Chicago, Illinois, Jessica Hillman filed for bankruptcy in 2016 due to medical debt accrued from battling a seizure disorder, despite having health insurance coverage for the majority of her treatment. When he lost his job due to the prolonged hospital stay and leg amputation, his employer offered Cobra, a health insurance program for employees who lose their job or have a reduction in work hours, but he couldn’t afford it. ", Soybean farmer in Minnesota has seen increased suicides, In a CNN interview in May, Minnesota soybean farmer Bill Gordon said, “With these added tariffs farmers are not getting their credit lines renewed, banks are coming in and foreclosing on their farms, taking their family living away and it's too much for some of them. So I owe over $400,000 in medical bills, have lost my house and I live on the street now, with no end in sight,” he said. Donald Trump brags about how well his businesses have fared in bankruptcy. 90% of all the Chapter 11 bankruptcies filed from July 1, 2019 to June 30, 2020, were filed by businesses. The bankruptcies include plenty of iconic names like Ruby Tuesday, Guitar Center and Hertz. They reported more concerns about farmer bankruptcies and suicidal contemplation until about July when the farmers became busier with crops that were maturing.”. Dozens have shut down in 2019. The study found that even the Obama administration’s landmark Affordable Care Act (known as Obamacare) has failed to change the proportion of bankruptcies caused by medical debts, with poor health insurance cited as one of the main culprits. I have a B.S. It takes quite a while for the Centers for Disease Control to collect national violent death data, which are based on coroner reports. Feb 14, 2019 8:44AM EST. A type 1 diabetic for years, he had to reduce his work hours for a cellular retail store when trouble regulating his blood sugar resulted in a toe amputation in April 2019. Bankruptcy can also make it difficult to find employment given that many employers will disqualify a candidate with a bankruptcy filing found from a background check. Official figures have indicated that bankruptcies last year actually decreased by as much as 17 percent compared to 2019. Prosecutors allege the four people charged last week in connection to the 2019 murder of a Herrin man carried out the killing during an … This could be worse than the farm crisis of the 1980’s. All Rights Reserved, This is a BETA experience. ", I provide independent research of technology companies and was previously one of two analysts that determined the technology holdings for Atlantic Trust (Invesco's high. Could Tesla Raise A $30 Billion Cash War Chest? After the surgery, I started receiving all these invoices and came to find out the only thing covered was my bed because the hospital was out of network,” said LeClair. Before her first cancer-related surgery, LeClair was told by the hospital they accepted her employer-based health insurance. This is where having a credit monitoring service comes in handy. All of this has led to increased stress levels for farmers. “I couldn’t work and had no way to pay these.”. When you think about living paycheck to paycheck, $450 is a lot of money. The chart below shows farmer’s rate of return on their assets has fallen to under 2% for the past 6 years and for 2019 Newton projects it to be 1.3%. The American Farm Bureau Federation, also known as the Farm Bureau, published a report in July that dove into farm loan delinquencies and bankruptcies based on Federal Deposit Insurance Corporation and U.S. court data. I’m barely making it. It’s been over a dozen years since Susanne LeClair of West Palm Beach, Florida was first diagnosed with cancer and she’s been fighting ever since. One study has claimed that 62.1% of bankruptcies were caused by medical issues. America’s family farmers — reduced in numbers since the Farm Crisis of the 1980s — have approached endangered status. One out of every six Americans has an unpaid medical bill on their credit report, amounting to $81bn in debt nationwide, while about one in 12 Americans went without any medical insurance throughout 2018. New cases of COVID-19 have surged in the United States in recent weeks, prompting many people to stay at home more and some local authorities to shut some businesses to contain the spread. I provide independent research of technology companies and was previously one of two analysts that determined the technology holdings for Atlantic Trust (Invesco's high net worth group), a firm with $15 billion under management. Farmer loan delinquencies and bankruptcies are rising across the U.S. Decade in the Red: Trump Tax Figures Show Over $1 Billion in Business Losses. You don’t really have a choice to not go get care. Senator Bernie Sanders holds up a vial of insulin as he talks about the high cost of healthcare in the US at a rally outside a pharmacy in Windsor, Ontario. TORONTO, Jan. 22, 2021 /CNW/ - Koskie Minsky LLP is pleased to announce that a settlement has been reached on behalf of the United Food and Commercial Workers … Economists and other experts expect the bankruptcy rate to rise sharply … The report said, “Canada’s share of total Chinese imports of wheat has rocketed above 60% in marketing year 2018/19, up from 32% in marketing year 2017/18, as U.S. wheat exports to China have plunged and Australian exportable supplies have fallen sharply.”, Top destinations for Canadian wheat exports. But in July 2019 I was admitted to the hospital again and I was fired from my job because I was in the hospital. The Gross Domestic Product (GDP) in Australia was worth 1392.70 billion US dollars in 2019, according to official data from the World Bank and projections from Trading Economics. Try being ill in the US if you don’t believe this | Mary O’Hara. It’s clear that despite health insurance, there are many, many people incurring costs not being covered by their insurance,” said Himmelstein. “I’m currently struggling to stay afloat now due to having surgery this past January,” added Cross, 51. One … Wisconsin, Kansas and Minnesota led the nation in Chapter 12 filings; bankruptcy filings in Kansas and Minnesota increased so significantly in the past year that they reached the highest levels of the past decade, While Trump’s decision to impose tariffs on China and its subsequent retaliation is not the only reason for the stress farmers are under, it is a self-inflicted wound. The lights have steadily been going out at Kmart stores in recent years. I’ve done everything from credit cards to consolidation loans, I just keep simply paying one credit card with another interest-free one until I can pay the next one,” LeClair added. "All of us in the field are expecting bankruptcies to spike up dramatically, probably … “One of the biggest hurdles you face as a patient is just the sheer confusion of the process. The retail apocalypse isn't showing any signs of slowing down. Republicans and Democrats are currently at loggerheads over Trump administration plans to further weaken Obamacare by making it easier for states to opt out of certain requirements and offer cheaper plans that could further exacerbate the situation. In most jurisdictions, bankruptcy is imposed by a court order, often initiated by the debtor.. “I had thousands of dollars in various medical debt which made the majority of my claim. The median income for those who filed Chapter 7, was just $31,284. Mental health issues for farmers and farm workers. Wave of Bankruptcies Sweeps ... which had skyrocketed over recent weeks.The volatility in ... Nearly 900,000 Americans between the ages of 60 and 69 lost their jobs between December 2019 … “What are you going to do if your authorization gets denied? t’s been over a dozen years since Susanne LeClair of West Palm Beach, Florida was first diagnosed with cancer and she’s been fighting ever since. China will find other suppliers or grow more crops themselves. How do bankruptcies work? At Farm Aid, we spend our time on the phone with anxious farm families who cannot make ends meet, and who will not be able to improve their situation simply by working harder. He is currently working on trying to file bankruptcy to release the medical debt he’s accrued from amputations this year and he lost his house in October 2019 as a result. 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