A Nobel Prize-winning physicist sold his medal for $765,000 to pay medical bills

Only in America.

Leon Lederman won a Nobel Prize in 2012 for his pioneering physics research.

Three years later, the physicist, who passed away Wednesday, sold his Nobel Prize medal for $765,000 to pay his mounting medical bills. The University of Chicago professor began to suffer from memory loss in 2011, and died in an Idaho nursing home.

In a lot of ways (and as others have observed) Lederman’s story represents the best and worst of America. Lederman was born in the 1920s to a father who worked in a laundry facility. He went on to discover the Higgs boson subatomic particle, the so-called “God particle” that you can read more about here.

But even an accomplished physicist and university professor isn’t immune from America’s sky-high health care prices. The United States routinely has health care prices well-above the rest of the country. A day in an American hospital, for examples, costs an average of $5,520 here — compared to $765 in Switzerland or $424 in Spain.

The cost of receiving care in a nursing home can also present a significant burden. A private room in a nursing facility costs, on average, $7,698 per month. And Medicare, which covers the vast majority of Americans over 65, generally does not cover long-term nursing care.

Many Americans do end up getting Medicaid to cover nursing home bills — but that often requires selling off significant assets and dwindling down savings in order to fall below the public program’s income requirements.

Read more

• The problem with American health care is the prices
• America’s health care prices are out of control. These 11 charts prove it.
• A helpful video explainer on what the heck the Higgs boson is