The Biden administration is working to remove medical debt from credit reports to protect Americans from the negative effects of healthcare bills. They are pushing for states to limit hospital debt collection and provide more charity care to prevent medical debt. The proposed rules would prevent future medical bills from affecting credit scores and eliminate current medical debts. Hospital leaders and debt collection industry representatives are concerned about the impact on healthcare payments, while consumer and patient advocates are calling for stronger federal regulations. Some states have already passed laws to prevent medical debt from impacting credit scores.
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00:00It's Benzinga, and here's what's on the block.
00:02The Biden administration is working to remove medical debt from credit reports to protect
00:07Americans from the negative effects of health care bills. They are pushing for states to
00:11limit hospital debt collection and providing more charity care to prevent medical debt.
00:15The proposed rules would prevent future medical bills from affecting credit scores
00:19and eliminate current medical debts.
00:21Hospital leaders and debt collection industry representatives are concerned about the impact
00:26on health care payments, while consumer and patient advocates are calling for stronger
00:30federal regulations. Some states have already passed laws to prevent medical
00:34debt from impacting credit scores. For all things money, visit Benzinga.com.