Reply to post: Re: But the elephant in the room...

Which country has 2nd largest social welfare system in the world?

Tim Worstal

Re: But the elephant in the room...

From the Harvard study:

"We designated bankruptcies as “medical” based on debtors’ stated

reasons for filing, income loss due to illness, and the magnitude of their medical debts.

RESULTS: Using a conservative definition, 62.1% of all bankruptcies in 2007 were medical;"

60% odd of bankruptcies are "medical" not necessarily due to "medical bills".

"Illness or medical bills contributed to 62.1% of all bankruptcies

in 2007"

"When asked about problems that contributed

very much or somewhat to their bankruptcy, 41.8% of

interviewees specifically identified a health problem, 54.9%

cited medical or drug costs, and 37.8% blamed income loss

due to illness. Overall, 68.8% cited at least one of these

medical causes."

It really ain't true that they're saying that medical bills caused 60% odd of all bankruptcies. They're including the loss of income from being ill for a start.

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