Those figures on health care bankruptcies have long since been discredited. In 2007, the last year data was available, there were just over 822,000 non-business bankruptcies nationwide. But according to a study by Dr. Ning Zhu at UC-Davis, only 5 percent of them were caused by medical bills. That’s only 41,000 medical bankruptcies, a far cry from the more than 1 million Obama implies. In fact, seniors who qualify for Medicare (universal health coverage) are 125 percent more likely to go bankrupt than people under age 65.