Account Recovery

MARCH 22, 2024

Sherrod Brown [D-Ohio], the chairman of the Senate Banking Committee, have sent a letter to the director of the Consumer Financial Protection Bureau encouraging the regulator to move forward with its proposed rule that would remove medical debts from consumers’ credit reports. The Senators asked the […]

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Banks Healthcare Collections 147

Account Recovery

FEBRUARY 12, 2024

Today marks Opening Day for the Minnesota legislature’s 2024 session and the governor of the state has announced his intention to back a bill that would remove interest on medical debt and ban hospitals from withholding care to patients who have outstanding debts.

Healthcare 147

Healthcare Collections 147

Account Recovery

FEBRUARY 5, 2024

The governor of Connecticut has announced a plan to cancel $650 million in medical debt for as many as 250,000 residents of The Nutmeg State, which would make it the first state to offer this type of relief. While Connecticut may be the first state to actually go through with the process of canceling medical […]

Healthcare 162

Healthcare 162

Account Recovery

OCTOBER 5, 2022

A group of more than 90 state and national consumer organizations have submitted a petition to the Consumer Financial Protection Bureau, asking it to issue a rule that would prohibit medical debts from appearing on consumers’ credit reports, if the debts resulted from medically necessary services.

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Account Recovery

JANUARY 29, 2024

One chamber of the Virginia legislature has passed a bill that would reduce the statute of limitations on medical debt to three years while also expanding the definition of medical debt and the types of facilities that are subject to the law. The Who: The bill was introduced by state Delegate Nadarius Clark, a Democrat. […]

Healthcare 147

Healthcare 147

Account Recovery

SEPTEMBER 21, 2023

The Consumer Financial Protection Bureau today announced it was beginning the rulemaking process to remove medical debts from consumers’ credit reports, removing the “leverage” that debt collectors use to “pressure” consumers into repaying unpaid medical debts.

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Debt collector 264

Account Recovery

FEBRUARY 27, 2024

A medical debt collection bill has advanced out of committee in the Oklahoma legislature and will now head to the full state house for its consideration. The bill would require healthcare providers or third-party debt collectors to include an itemized list of the charges when filing a collection lawsuit, among other requirements.

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Third-party Debt Collectors Collections Healthcare Debt collector 130

Account Recovery

APRIL 25, 2023

The city council of Cleveland, Ohio last night approved legislation that will earmark nearly $2 million to purchase and forgive up to $190 million in unpaid medical debts for city residents, becoming the latest government entity to take measures aimed at lessening the medical debt burdens for its residents.

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Government Healthcare 246

Account Recovery

FEBRUARY 14, 2024

More than half of individuals with medical debt have been contacted by a collection agency, compared with 8% of those who do not have medical debt, according to data released this week by the Kaiser Family Foundation. The data was part of a survey conducted of consumers back in 2021. Similarly, more than two-thirds of […]

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Collection Agencies Collections Agency Collections Healthcare 130

Account Recovery

JANUARY 11, 2023

The Governor of New York yesterday announced a number of healthcare-related proposes during her State of the State address, including a plan to include medical debt in the state’s Consumer Credit Fairness Act. Governor’s Agenda Includes Medical Debt Collection Initiatives first appeared on AccountsRecovery.net. The post N.Y.

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Collections Healthcare Consumer Credit 246

Account Recovery

JUNE 9, 2022

The governor of Colorado yesterday signed a bill into law that will prohibit healthcare facilities from pursuing debt collection activities against individuals with unpaid medical bills unless those facilities are in compliance with federal price transparency guidelines.

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Collections Healthcare 246

Account Recovery

MARCH 14, 2024

Another day, another state looking to prohibit medical debt from being included on consumers’ credit reports. This time it’s Illinois, which voted a bill out of committee this week and advanced it to the full state Senate for its consideration. What and Who: SB2933 was introduced in late January by state Sen.

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Healthcare 130

Account Recovery

APRIL 12, 2022

The announcement is the latest in a string of … The post White House Announces Medical Debt Crackdown appeared first on AccountsRecovery.net.

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Debt collector Healthcare 246

Account Recovery

NOVEMBER 18, 2022

Senior citizens in North Carolina and Florida are carrying more medical debt than seniors in any other state, according to the results of a recently released report, which details social threats — including economic instability — to seniors receiving healthcare.

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Healthcare 240

Account Recovery

MARCH 12, 2024

A study has attempted to link the amount of medical debt to just how much sicker those individuals are, determining that a 1% increase in a population with medical debt yields 18.3 more physically unhealthy days and 17.9 additional mentally unhealthy days in the past 30 days per 1,000 people. The study was published last […]

Healthcare 130

Healthcare 130

Account Recovery

JANUARY 10, 2024

The Governor of New Jersey yesterday called for the expansion of a program the purchases and forgives the medical debt of state residents while also asking the state legislature to enact a series of laws to keep families from “being caught in a medical debt trap” by making medical bills more clear and transparent.

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Healthcare 130

Account Recovery

MARCH 8, 2024

Both houses in the Florida legislature this week have approved a bill that places limits on how healthcare debts can be collected while also setting a three-year limit on collecting unpaid medical debts. The bill is part of a package of six pieces of legislation and it passed unanimously in both the state House and […]

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Healthcare Collections 130

Account Recovery

MARCH 13, 2024

Not looking to stay on the sidelines, a member of the Rhode Island legislature has introduced a bill that would cap the interest rate that can be charged on unpaid medical debt while also banning healthcare providers from reporting information about medical debts to the credit reporting agencies.

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Healthcare Collections 130

Account Recovery

FEBRUARY 15, 2024

An area of focus within medical debt today is the difference between elective and non-elective procedures. Consumers who incur medical debt because their appendix bursts, for example, are being looked at differently than someone who undergoes surgery to remove a mole or a wart.

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Healthcare 130

Account Recovery

JANUARY 12, 2024

In response to a new law enacted last month in New York, one of the three major credit reporting agencies has announced it will no longer include any medical debt for residents of the Empire State on their credit reports. of the total amount of medical debt, according to the company. […] The move affects 2.2%

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Credit Bureau Collections 130

Account Recovery

NOVEMBER 15, 2022

million toward purchasing unpaid medical debts of its residents, which could result in wiping out as much as $200 million in past-due medical bills. This believed to be the first … The post City, County in Ohio Partner to Wipe out $200M in Medical Debt first appeared on AccountsRecovery.net.

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Healthcare 246

Account Recovery

JANUARY 26, 2024

A pair of bills were introduced in the Maine legislature yesterday that both tackle the topic of medical debt. One would limit how medical debt credit cards are promoted and used and the other would give consumers the chance to buy their medical debts from a provider before they are sold to someone else. Medical […]

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Credit Card Debt Debt Buying 130

Account Recovery

MARCH 11, 2022

About 9% of all adults in America — which represents about 23 million people — owe at least $250 in medical debt, according to the results of a report released yesterday by the Kaiser Family Foundation.

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Healthcare 246

Account Recovery

MARCH 4, 2024

A bipartisan bill has been introduced in the House of Representatives to amend the Fair Credit Reporting Act by restricting certain types of medical debt from appearing on the credit reports of Native Americans as a means of protecting them from wrongfully charged medical bills that are actually owed by the Indian Health Service.

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Account Recovery

JULY 10, 2023

A number of different agencies within the federal government — including the Consumer Financial Protection Bureau — announced on Friday that they are taking steps to try and reduce the amount of medical debt incurred by patients, focusing on the areas of short-term health plans, surprise medical bills, and medical credit cards.

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Government Healthcare 130

Account Recovery

DECEMBER 14, 2023

New York yesterday became the second state to ban the credit reporting of medical debt, with the new law going into effect immediately after it was signed by Gov. What it Covers: Under the law, medical debt is defined as an obligation or alleged obligation of a consumer to pay any amount related […] Kathy Hochul.

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Healthcare 130

Account Recovery

JULY 5, 2022

Friday is the deadline for a group seeking to increase the protections that consumers can use to shield assets from garnishments to pay medical debts while also lowering the judgment interest rate on medical debt to get enough signatures to add the measure to the November ballot in Arizona.

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Garnishment Healthcare Judgment 245

Account Recovery

SEPTEMBER 15, 2022

The number of individuals across the country with past-due medical debts has remained the same since 2015, despite an increase in cost-sharing with employers, according to research that was published by the Employee Benefit Research Institute.

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Healthcare 246

Account Recovery

JUNE 16, 2022

More than half of adults in the United States have gone into debt in the past five years because of a medical or dental bill, according to the results of a nationwide survey, and about 20% of those adults say they don’t ever expect to fully repay those debts.

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Healthcare 244

Account Recovery

JUNE 8, 2022

A report has been released ranking each of the 50 states according to how they protect consumers related to medical debts, assigning only three a score of “good” while assigning 20 a score of “poor.”

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Collections Healthcare 244

Account Recovery

DECEMBER 5, 2022

A bill has been introduced in the Senate that seeks to cap the interest rate that can be charged on unpaid medical debts, create a private right of action, and force providers to wait 180 days after a bill has been sent before engaging in “extraordinary” collection actions. A copy of S. A copy of S.

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Collections 243

Account Recovery

SEPTEMBER 12, 2023

The Attorney General of California yesterday sent a letter to a number of federal agencies, including the Consumer Financial Protection Bureau and the Department of Health & Human Services, calling for federal regulations on medical payment products, such as medical credit cards, saying the products “can leave users with crushing debt and (..)

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Healthcare 130

Account Recovery

AUGUST 26, 2022

The federal government, noting it has “a responsibility to set the standard for how medical debt is treated,” announced yesterday that it is instructing its agencies with direct loan and guarantee programs to “wherever possible” reduce the impact of medical debt when making underwriting decisions.

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Loans Government Collections 246

Account Recovery

SEPTEMBER 7, 2022

For what is believed to be the first time, a local government is looking to buy up the unpaid medical debts of tens of thousands of its citizens so the debts can be written off and forgiven.

Government 245

Government Healthcare 245

Account Recovery

JULY 28, 2022

Changes that have been announced and started to be put into place regarding how information about medical debts are furnished to the credit reporting agencies will remove those debts from the credit reports of about half of all consumers, according to an analysis of the data published yesterday by the Consumer Financial Protection Bureau.

Healthcare 244

Healthcare 244

Account Recovery

JANUARY 3, 2024

Kathy Hochul announced many of the components that she will address in her remarks, including expanding consumer protections and a plan to introduce legislation that limits medical debt collection in the Empire State. Expanding UDAAP: Calling it the […]

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Collections Healthcare 147

Nexa Collect

JUNE 18, 2023

A medical collection agency will send written demands and make persistent phone calls to your patients. Need a Medical Collection Agency? Contact Us Detailed explanation A medical collection agency is a business or organization that specializes in collecting debts related to medical services.

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Collection Agencies Collections Agency Collections Healthcare 130