Another View of Medical Bankruptcies

Megan McArdle has an alternative take on the cause of medical bankruptcies:

Medical bankruptcy probably wasn’t nearly as big a problem as people thought when we were passing our giant new health-care program. And to the extent that it was a problem, Obamacare probably didn’t do much to fix it.

That jibes with what we’ve seen in the bankruptcy data since Obamacare passed. If medical bills really were driving so many people into bankruptcy, then we would have expected filings to plummet after 2013, when millions of people gained health insurance coverage. Instead we see a smooth decline from the recession-era peak.

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