Re:Pooling and Sharing of wealth make everyone's wealth grow...
by refurb on Saturday September 02, 2023 @06:17AM
(#37360129)
Really? Nobody has gone bankrupt due to health issues?
Because in Canada, which has universal health insurance, medical bankruptcies are 25% of all bankruptcies for those over 55.
Why? Because if you're sick enough, you can't work. You can go on unemployment, but it's capped and doesn't replace 100% of your income. So if you're living paycheck to paycheck, it's not that hard to go bankrupt if you don't have the income to pay your mortgage, car loan, etc.
Because in Canada, which has universal health insurance, medical bankruptcies are 25% of all bankruptcies for those over 55.
Why? Because if you're sick enough, you can't work. You can go on unemployment, but it's capped and doesn't replace 100% of your income. So if you're living paycheck to paycheck, it's not that hard to go bankrupt if you don't have the income to pay your mortgage, car loan, etc.