ACA (Obamacare) Cut Personal Bankruptcies in Half

This is absolutely stunning: We know that medical emergencies are a huge source of financial stress, and have been associated with rising bankruptcies pre-ACA. Consumer Reports references a 2014 study Northeastern University School of Law that found medical debt is the single largest factor in personal bankruptcy.

Filings have dropped 50 percent, from 1,536,799 in 2010 to 770,846 six years later in 2016. This chart shows how stark the decrease has been in personal bankruptcies:


Expanded health insurance helped cut the number of filings by half
Source: Consumer Reports



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