This has always been the case [1] :-). Medicines and medical care in India is cheaper, by many folds, compared to US. Anecdotaly, whenever my Indian friends working in US visit India (parents, family) one thing they never forget is to visit dentists. I initially found it very surprising but understood their reasoning when I came to know that in US you can easily go bankrupt due to medical condition, something that's unheard of in India.
Maybe not if you're in the 'upper middle class'. If you're from the lower income classes (maids, drivers, helpers), it's very likely that health issues can bankrupt you.
I personally know an entire family that has sunk into debt that they couldn't possibly pay-off, due to health related expenses for someone in the family.
It's hard for me to believe that people don't run out of money getting treatment in India. While prices for medical goods and services are lower than the United States, many Indians can't afford all the care they need.
[1]: http://en.wikipedia.org/wiki/Medical_tourism_in_India