jreeves
Senior Member
- Feb 12, 2008
- 6,588
- 319
- 48
Hmmm...I guess that's why Canada has a higher bankruptcy rate than the US huh?
http://www.fraserinstitute.org/Commerce.Web/product_files/HealthInsuranceandBankruptcyRates.pdf
Unlike the United States, Canada has a universal, single-payer, government-run, socialized health
insurance system.
Advocates of socialized medicine argue that the mixed public-private health insurance system in the
United States causes many Americans to become financially bankrupt, and that this would not
occur if the US adopted the Canadian health system.
Following this logic, we should expect to observe a lower rate of personal bankruptcy in Canada
than in the United States.
Yet the most recent data (2006 and 2007) shows that personal
bankruptcy rates are actually higher in Canada (.30% for both
years) than in the United States (.20% and .27%).
Research indicates that medical spending was only one of
several contributing factors in 17 percent of US bankruptcies,
and that medical debts accounted for only 12 to 13 percent of
the total debts among American bankruptcy filers who cited
medical debt as one of their reasons for bankruptcy.
Medical reasons for bankruptcies
are not unique to the US. Research
commissioned by the Canadian
government (Redish et al., 2006)
indicates that medical reasons were
cited as the primary cause of bankruptcy
for approximately 15 percent
of bankrupt Canadian seniors (55
years of age and older).
Using a blog to support your point of view priceless....LMAO
I've got links. I don't know where you're getting your stuff from.
Medical bills prompt more than 60 percent of U.S. bankruptcies - CNN.com
Bankruptcies due to medical bills increased by nearly 50 percent in a six-year period, from 46 percent in 2001 to 62 percent in 2007, and most of those who filed for bankruptcy were middle-class, well-educated homeowners, according to a report that will be published in the August issue of The American Journal of Medicine.
Right off the Office of the superintendent of Bankruptcy for Canada's website...
View attachment 8351
Now the American counterparts...
Medical Bankruptcy: Myth Versus Fact -- Dranove and Millenson 25 (2): w74 -- Health Affairs
Medical Bankruptcy: Myth Versus Fact
David Dranove and Michael L. Millenson
David Himmelstein and colleagues 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 as a solution. A reexamination 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 national health insurance 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.
Also, commonsense would ask if medical costs in the US are driving bankruptcies, then why does Canada have a higher rate of bankruptcies compared to the US?
and rdean disappears...