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State advocates seeking to remove medical debts from credit reports face a new landscape that threatens to undo their work. State laws and bills to ban medical debt credit reporting may need to be modified to protect against a now-hostile federal administration that may attempt to preempt them. This policy brief provides two suggestions to…
Medicaid plays a crucial role in ensuring that millions of working-class, aging, and disabled individuals can receive necessary long-term services and supports (LTSS) in their own homes and communities. Federal policy, however, forces state Medicaid programs to pursue recovery of LTSS costs accrued at age 55 and older from the estates of deceased beneficiaries, often…
Read More about What States Can Do to Help Consumers: Medicaid Estate Recovery
Medical debt harms tens of millions of consumers, with nearly 1 in 6 Americans contacted by a debt collector over a healthcare bill, and 21% of residents in mainly nonwhite zip codes with at least one medical debt in collection on their credit reports.
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Read More about Selected Resources About Medical Lending Products
Medical bills often end up on credit cards, including medical credit cards and other medical lending products. These products are marketed specifically to pay for medical expenses and are typically offered directly by health care providers, particularly dentists. Patients used cards or loans with deferred interest terms to pay for almost $23 billion in healthcare…
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The rule will help people with unjustly lowered credit scores by lessening medical debt’s impacts and relieving pressure to pay wrongful bills The Consumer Financial Protection Bureau’s (CFPB) medical debt credit reporting rule will remove medical bills from credit reports sent to lenders by companies like Equifax, TransUnion, and Experian. The rule also prohibits lenders…
Read More about CFPB’s Medical Debt Credit Reporting Rule Is a Lifeline to 15M People