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Medical debt drives many Americans into bankruptcy. One 2019 scholarly paper found that more than half of bankruptcy filers cited medical expenses as a contributing cause. The agency said the new ...
In addition, she noted, North Carolina has set up a medical debt relief program in which the state’s 99 eligible hospitals have promised to eliminate up to $4 billion in unpaid bills for nearly ...
In a separate analysis, which included credit card bills resulting from medical procedures, KFF estimates that around 40% of American adults have some form of medical debt, or 100 million people.
As these medical fees continue to rise and out-of-pocket expenses continue to grow, Americans are at much higher risk of falling into medical debt whether insured or not. [22] In May 2023, President Biden publicly discouraged all Americans from using medical credit cards to pay for their medical bills due to the credit cards' high interest ...
CFPB research shows medical debt is most prevalent among Americans earning less than $50,000 per year. The U.S. Census Bureau found that households earning less than $25,000 per year have the ...
Americans who mostly had medical debt on their reports went into delinquency at similar rates to other consumers with credit scores 8-to-10 points higher, the study concluded.
An estimated 41% of Americans are grappling with medical debt of some kind, ranging from unexpected medical events to surprise medical bills, out-of-pocket costs, and more.
As medical expenses piled up, he grappled not only with physical pain but also financial strain. 23 million people in the United States owe medical debt. How some cities are buying medical debt