Yes. The biggest group responsible for medical bankruptcy is medicare. They have to bankrupt you before they can put you in a rest home.
That's government for you.
I'm not supportive of big government, that's for sure, but your not accounting for other causes of medical bankruptcy. Like hospitals, medical service providers, and doctors, overcharging
My wife had brain surgery and when we were going through the finances, pre-check-in, at the hospital, they started with telling us the hospital charge, not counting doctors, anesthesiologists, radiologists, medicines, etc., our charge was going to be $56,000. Then we got to the insurance question and provided our information. Now the charge was $3600, less than 10%. In this case, the insurance company had negotiated a better price so the private insurance was a good thing.
My wife is also on oxygen. To rent a 1000 dollar oxygen concentrator and send $12.00 in supplies once a month, at best, the provider charges $330 a month. On insurance, $100 a month.
If these insurance prices were not profitable the providers wouldn't sign the contracts. So if you don't have insurance, and you get ripped off by the providers, bankruptcy may be your only option.