The Biden administration announced a major initiative to protect Americans from medical debt on Thursday, outlining plans to develop federal rules barring unpaid medical bills from affecting patients’ credit scores.
This is great news! The new initiative to protect Americans from the negative impacts of medical debt on credit scores is a big step forward in financial healthcare reform. It’s reassuring to see measures being taken to ensure that unexpected medical bills don’t have long-term negative effects on personal finance. Just as we rely on secure payments to safeguard our financial transactions, this policy could safeguard our financial future by preventing medical debt from undermining our credit health.
I’d prefer a focus on eliminating the for-profit health care system, or the credit score system. Adding more band-aids to an infected wound is a bad idea.
For-profit health care system should honestly just eliminated even if it takes millions of job away, it should have never existed. Then fixing a problem with the credit system, where paying off all your credit drop your credit scores. It should increase for that as it tells the bank “Look this person paid it off, and is stable.” Instead of “Paid it off, shame on you, we didn’t make any money from it.”
