Biden to ban medical debt from going on credit reports

[1srelluc]

So lenders (banks) will have to make uninformed decisions. Then the government will have to bail out the banks.

And people will just stop paying medical bills unless they have attachable assets.

This is just another "loan bailout" to buy votes. And it will increase the load on those who are responsible.

Besides, how can there be any medical debt after ObamaCare?

Jeez.....Who do I short on this one to make money?

 

[pknopp]

I would have far preferred he addressed the reason for such medical debt.

 

[Votto]

I would have far preferred he addressed the reason for such medical debt.

Putin done it

Besides, January 6th

 

[DudleySmith]

Good. After years of scamming Medicare these con artists running HMO's are grossly overcharging for even the smallest things. They think they should be able to charge $5,000 just for walking by your room and saying 'Hello' now.

https://www.axios.com/2024/04/19/health-insurance-companies-uhg-aetna-cigna

Major health insurance companies are nearing too big to fail status​

 

[Harpy Eagle]

Not really a new thing....

Medical Debt Was Erased from Credit Records for Most Consumers, Potentially Improving Many Americans' Lives

Changes in how credit bureaus track medical debt has erased it from 15 million Americans’ credit files.

www.urban.org

The major credit bureaus recently enacted significant changes in reporting medical debt in collections. In July 2022, the credit bureaus removed paid medical collections from credit reports and stopped reporting unpaid medical collections until those debts were one year old, as opposed to the previous six-month grace period. In August 2022, it was announced that medical debt in collections would no longer be used in calculating Vantage scores, one of the country’s most used credit scoring models. In addition, after April 2023, medical collections under $500 would no longer appear on consumer credit reports.

 

[Harpy Eagle]

I would have far preferred he addressed the reason for such medical debt.

There is little the Govt can do about such things.

My daughter had a 5 week period between jobs at the start of this year. She just happened to develop a kidney stone 10 days before starting her new job, an ER visit and stone removal and her bills added up to more than 10 grand for about 3 hours in the ER.

She will eventually pay it off, we told her to just set up a plan an pay it off slowly.

 

[DudleySmith]

There is little the Govt can do about such things.

My daughter had a 5 week period between jobs at the start of this year. She just happened to develop a kidney stone 10 days before starting her new job, an ER visit and stone removal and her bills added up to more than 10 grand for about 3 hours in the ER.

She will eventually pay it off, we told her to just set up a plan an pay it off slowly.

Utterly ridiculous prices.

 

[Harpy Eagle]

Our entire credit reporting system is such a scam.

The power over our lives we give these private companies is just stupid.

There is very little in your life that the credit score does not impact.

 

[PredFan]

If you wanted to completely destroy this country, you wouldn't do anything different than what Biden is doing right now.

 

[Polishprince]

This isn't going to "improve" anyone's chances to borrow money for a home or car at all.

Banks will just require more collateral and cosigners and be more reluctant to loan money to people without such guarantees.

Someone who robs a hospital stands a lot better chance of cheating other creditors.

 

[dblack]

So lenders (banks) will have to make uninformed decisions. Then the government will have to bail out the banks.

And people will just stop paying medical bills unless they have attachable assets.

This is just another "loan bailout" to buy votes. And it will increase the load on those who are responsible.

Besides, how can there be any medical debt after ObamaCare?

Jeez.....Who do I short on this one to make money?

Free shit!

Man, this election, with two free-shit heroes running, we're going to make out like bandits!

 

[pknopp]

There is little the Govt can do about such things.

Odd that people in most every other first world country doesn't have this issue then.

My daughter had a 5 week period between jobs at the start of this year. She just happened to develop a kidney stone 10 days before starting her new job, an ER visit and stone removal and her bills added up to more than 10 grand for about 3 hours in the ER.

She will eventually pay it off, we told her to just set up a plan an pay it off slowly.

She should have been covered. 10K for 3 hours in an ER should also be criminal.

 

[Harpy Eagle]

Odd that people in most every other first world country doesn't have this issue then.

I should have said other than offering universal healthcare there is little the Govt can do.

And Biden, nor the Dems can do that without the help of the GOP

She should have been covered. 10K for 3 hours in an ER should also be criminal.

No arguments from me

 

[pknopp]

I should have said other than offering universal healthcare there is little the Govt can do.

And that's what should have been done long ago.

And Biden, nor the Dems can do that without the help of the GOP



No arguments from me

They had the numbers. They gave health care away to the Pharmaceutical and Insurance industries and here we are.

 

[Harpy Eagle]

This isn't going to "improve" anyone's chances to borrow money for a home or car at all.

Banks will just require more collateral and cosigners and be more reluctant to loan money to people without such guarantees.

Someone who robs a hospital stands a lot better chance of cheating other creditors.

Credit reporting companies have already been dropping much of medical debt even before Biden did this.

They have found very little correlation between medical debt and defaulting on any other debt.

 

[Harpy Eagle]

Free shit!

Man, this election, with two free-shit heroes running, we're going to make out like bandits!

I am not sure how this is "free shit".

 

[dblack]

I am not sure how this is "free shit".

Writing off debt? Or, rather, the repercussions of ignoring debt? They'll just find other ways to recoup that money, ways the rest of us will ultimately pay for. It's just buying more votes.

 

[Polishprince]

I am not sure how this is "free shit".

Allowing people to rob hospitals without consequence? Sounds like "free shit" to me, to accept services and not pay the doctor his wage.

 

[martybegan]

There is little the Govt can do about such things.

My daughter had a 5 week period between jobs at the start of this year. She just happened to develop a kidney stone 10 days before starting her new job, an ER visit and stone removal and her bills added up to more than 10 grand for about 3 hours in the ER.

She will eventually pay it off, we told her to just set up a plan an pay it off slowly.

if it's a plan doesn't show up as a scheduled debt as opposed to an unpaid one?

 

[Harpy Eagle]

Allowing people to rob hospitals without consequence?

Good thing that is not what is happening here