Bankruptcy: Myth vs. Fact
D. (corresponding author), Millenson, M.
Himmelstein, Warren, Thorne and Woolhandler recently contended
that medical problems contribute to 54.5 percent of personal
bankruptcies and threaten the solvency of solidly middle class
Americans. They propose comprehensive national health insurance
(NHI) as a solution. A re-examination of their data suggests
that medical bills are a contributing factor in just 17 percent
of personal bankruptcies and that those affected tend to have
incomes closer to poverty level than to middle class. Moreover,
for NHI to have an impact it would have to define “medical”
expenses in a much broader way than is now typical of either
private or government-funded plans.
Bankruptcy: Myth vs. Fact (PDF