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US medical bankruptcies a myth; personal bankruptcy rate higher in Canada

Hey maybe it’s not government-run healthcare that people need in America.  Maybe the folks just need mandatory state-funded, state-run lessons on freedom and capitalism and how things in the world work generally.  They could start teaching folks at age 6.  In brick buildings.  You know, like some sort of government-run general education “school” thing, or something.  Apparently Canadians need it even more, since they already have the government-run healthcare component.  This whole “school” thing would work because it’s government run! 

US medical bankruptcies a myth; personal bankruptcy rate higher in Canada

The idea that large numbers of Americans are declaring bankruptcy due to medical expenses is a myth and the introduction of government-run health insurance in the US will do nothing to reduce personal bankruptcies, concludes a new Institute study.

The current debate about reforming US health care policy has included suggestions that nearly two thirds of personal bankruptcies in the US result from uninsured medical expenses or loss of income due to illness. Advocates of socialized medicine argue that this would not occur if the US adopted a government-run health system similar to Canada’s.

But Brett Skinner, author of Health Insurance and Bankruptcy Rates in Canada and the United States and Fraser Institute director of bio-pharma, health, and insurance policy research, says the evidence doesn’t support the bankruptcy claim.

“If socialized medicine played a role in reducing personal bankruptcies, we would expect to see a lower rate of personal bankruptcy in Canada compared to the United States. Yet the reverse is true. The personal bankruptcy rate is actually higher in Canada than it is in the US,” he said.

Read more here

And here’s a video trying to help Americans see the light, as told by a Canadian.

Joel Johannesen
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