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I think there is something wrong with this sample. Report says 2% of those surveyed had declared bankruptcy b/c of medical bills in the last 12 months. For comparison purposes, TOTAL 2018 US personal BKs for all reasons were 750k, out of adult pop of ca. 250 mm--0.3%
Even if you assume that 100% of bankruptcies are caused by medical bills--and even the most alarmist studies don't get close to that--that would be a 2018 bankruptcy rate more than six times that of the adult population.
Now, perhaps you are thinking "But this is a survey of people with employer sponsored insurance. Perhaps they are more likely to go bankrupt?" Indeed I myself had this thought when struggling to make sense of these numbers.
And ... maybe marginally? Super poor people, who are least likely to have ESI, can't get credit, and therefore have very little to bankrupt.
However, typical debtor in BK has an income of less than $30k, so overall we would expect them to be less likely to have ESI, not more.
However, typical debtor in BK has an income of less than $30k, so overall we would expect them to be less likely to have ESI, not more.
