The number-one question people ask us is, “What possessed you to move to Mexico?” The number-one answer we give is that we simply could no longer afford to live in America, so we found a country where we could, and moved there.
We found ourselves in a position not unlike many Americans: A major illness strikes, unexpectedly, and though insured and with incomes, the cost of funding the illness simply becomes too much. It becomes, essentially, impossible. We were not alone.
It turns out that more than 50% of bankruptcies filed in 2001 were medically related and were filed by middle-class homeowners who not only had an income but also health insurance. The prevailing myth that most bankruptcies are due to credit card debt is not true. Less than 1% of filed bankruptcies are due to credit card debt.
Researchers found that, in those surveyed, 1.9 to 2.2 million U.S. residents filed a medical bankruptcy. The average person filing for bankruptcy during the 2001 period spent $13,460 on co-payments, deductibles, and uncovered services even though they had private insurance.
“Our study is frightening. Unless you’re Bill Gates,...
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