#medical-debt
#medical-debt

New York removes medical debt from credit reports

Unpaid medical debt will no longer appear in credit reports of New York residents.

The law aims to help low-income earners and prevent medical debt from negatively impacting credit scores. [ more ]

morehealthcare

www.bostonherald.com

Governments can erase your medical debt for pennies on the dollar and some are

Medical debt is the leading cause of bankruptcies in the United States, and more than 2 in 5 American adults have some.

Connecticut, New Jersey, and other local governments are using public money to purchase and forgive their residents' medical debt.

Programs to purchase and forgive medical debt can have a significant impact, as hospitals often sell the debt for pennies on the dollar. [ more ]

debt-relief

Truthout

Local Governments Are Pledging to Cancel Medical Debt for Residents

New York City has pledged to pay down $2 billion worth of residents' medical debt, following the lead of Cook County, Illinois, which became the first local government to partner with RIP Medical Debt to alleviate its residents' debt.

RIP Medical Debt's model involves buying up unpaid hospital bills at a small fraction of the original value and forgiving them, effectively erasing the debt for patients. [ more ]

Fox Business

NYC Mayor Eric Adams announces $2B medical debt bailout for up to 500K residents

New York City will spend $18 million to pay off medical debt owed by up to 500,000 residents.

The program is estimated to erase over $2 billion of medical debt, making it the largest municipal initiative of its kind in the country. [ more ]

BKReader

City to Relieve Over $2 Billion in Medical Debt

New York City will wipe out over $2 billion in medical debt for hundreds of thousands of working-class citizens.

Up to half a million New Yorkers will see their medical debt relieved thanks to the program, the largest municipal initiative of its kind in the country. [ more ]

Brooklyn Eagle

New York City plans to wipe out $2 billion in medical debt for 500,000 residents

New York City plans to wipe out over $2 billion in medical debt for up to 500,000 residents.

The city is partnering with RIP Medical Debt to buy the debt in bulk and forgive the amounts for people with low incomes or financial hardships. [ more ]

Cbsnews

New York City looks to clear $2 billion in unpaid medical bills for 500,000

New York City will purchase and erase millions of dollars of medical debt for up to 500,000 residents

The program is aimed at low-income New Yorkers with medical bills at least 5% of their annual household income [ more ]

www.amny.com

NYC to wipe out medical debt for 500,000 New Yorkers under new program | amNewYork

New York City is launching an effort to wipe out $2 billion in medical debt for city residents.

The initiative is supported by $18 million over three years from the city and could help up to 500,000 New Yorkers with medical debt. [ more ]

moredebt-relief

www.npr.org

NYC joins a growing wave of local governments erasing residents' medical debt

Cook County in Illinois was the first local government to partner with RIP Medical Debt, using federal pandemic rescue funds to relieve residents' medical debt.

RIP Medical Debt buys unpaid hospital bills at a fraction of the original value and forgives the debt, alleviating the financial burden for patients. [ more ]

US News & World Report

New York City Plans to Wipe Out $2 Billion in Medical Debt for 500,000 Residents

New York City plans to eliminate over $2 billion of medical debt for up to 500,000 residents in partnership with RIP Medical Debt.

The program aims to address the financial burden of medical debt on low-income households and individuals with inadequate insurance. [ more ]

www.npr.org

1 week ago

Health

Their first baby came with medical debt. These Illinois parents won't have another.

Medical debt is a common post-childbirth challenge for many new parents, impacting finances and daily life significantly. [ more ]

www.twincities.com

1 day ago

Health

Their first baby came with medical debt. These parents won't have another

Medical debt related to pregnancy is a significant issue in the US, affecting millions of new parents and sometimes leading to financial crises. [ more ]

www.housingwire.com

2 weeks ago

Medicine

15 million Americans still have medical bills on credit reports

Around 15 million Americans grapple with medical debt on credit reports, but improvements have been seen, particularly among older age groups. [ more ]

www.bostonherald.com

2 months ago

With medical debt burdening millions, a financial regulator steps in to help

CFPB expanding to protect patients from medical debt.

Rules being developed to exclude medical debt from consumer credit reports. [ more ]

www.npr.org

2 months ago

Why a financial regulator is going after health care debt

CFPB is introducing regulations to exclude medical debt from credit reports.

CFPB under Director Rohit Chopra is focusing on protecting consumers from financial strains due to medical bills. [ more ]

Los Angeles Times

2 months ago

Opinion: California wants to make your healthcare less expensive

Californians struggle with medical debt

Office of Health Care Affordability proposes healthcare spending growth cap at 3%. [ more ]

Axios

Mapped: States with the biggest share of adults with medical debt

About 1 in 12 U.S. adults have unpaid medical bills of at least $250

People in the South and rural areas report the greatest burden of medical debt. [ more ]

Cbsnews

5 months ago