In America, medical bills are the most common reason for bankruptcy. In fact, medical bankruptcy statistics suggest that 17% of adults with health care debt had to declare bankruptcy or lose their home because of it as of 2022.
While America already has the most expensive health care of any country, prices are trending upward. Projections by theCenters for Medicare and Medicaid Services (CMS)estimate that healthcare expenditures will reach approximately $6.2 trillion in 2028, a 50% increase from 2020.