Technically true. It's paying the bills on top of the second mortgage after helping your 30 year old grandkids afford college, weddings, and starter homes that leads to bankruptcy. A surprise one-time medical cost is only a minimal contributing factor in the arc of recurring mandatory prescription, insurance, and care costs, at that point. My inner Humean rejoices.

That coupled with private equity's involvement in all late / end of life care ensures no one dies with a penny to their name to pass down.

It still paints a picture of an out of control, over-financialized system that only gets more expensive the more money is put into it.