There are few things in the world that are certain. Death and taxes come to mind as being proverbially the surest things in life. Another thing that might rank on the list is the cost of medical care in the United States. As recently as March of this year, a JAMA study found that consumers in the U.S. spent about twice as much as individuals in other high-income countries.
Many readers likely remember that just 10 years ago, we went through the Great Recession. Over the course of that downturn, bankruptcy rates shot upward in California and everywhere else. A common claim then was that a major driver of bankruptcies was medical bills, with some estimating that health care costs accounted for as many as half of all bankruptcies at the time.