Medical debt is the leading cause of bankruptcy in the United States, accounting for 66.5% of all bankruptcies.
To citizens of every other industrialized nation on the planet, that is a foreign and baffling fact which they are wholly unfamiliar with.
The 66.5% figure is misleading.
It implies that medical debt is a sole factor causing bankruptcy. But in fact filers cite multiple factors and medical was just the most frequently listed.
Other factors include:
Unaffordable mortgage - 45%
Living beyond one's means - 44%
Providing help to friend/relatives - 28%
Student loans - 25%
Divorce or separation - 24%
CNBC article