CFPB Releases Proposed Rule To Ban Medical Debt From Credit Reports
The Biden administration regulation, if implemented, would reduce tens of millions people in the U.S. with medical debt listed on their reports down to zero — and could raise their credit scores by an average of 20 points.
KFF Health News:
Biden Administration Advances Plan To Remove Medical Debt From Credit Scores
Americans would no longer have to worry about medical debts dragging down their credit scores under federal regulations proposed Tuesday by the Consumer Financial Protection Bureau. If enacted, the rules would dramatically expand protections for tens of millions of Americans burdened by medical bills they can’t afford. The regulations would also fulfill a pledge by the Biden administration to address the scourge of health care debt, a uniquely American problem that touches an estimated 100 million people. (Levey, 6/11)
The 19th:
New Biden Administration Rule Would Ban Medical Debt From Credit Reports
“Medical debt makes it more difficult for millions of Americans to be approved for a car loan, a home loan or a small business loan, all of which in turn makes it more difficult to just get by, much less get ahead, and that is simply not fair. Especially when we know that people with medical debt are no less likely to repay a loan than those without medical debt,” Vice President Kamala Harris said Tuesday. “No one should be denied access to economic opportunity simply because they experienced a medical emergency.” (Davis, 6/11)
In other news about the Biden administration —
Stat:
NIH Pilot For Diverse Cancer Trials Raised Costs, Didn't Work
Government researchers hoped to attract a more diverse group of patients for clinical research by paying for the travel expenses of cancer patients seeking to volunteer for trials. It didn’t work. (Wilkerson, 6/12)
Stat:
Why Google, Microsoft Can't Fix Health Care's Cybersecurity Problem
Facing a worsening cybersecurity crisis in health care, the Biden administration has followed a familiar political playbook: Call the biggest names in technology and secure promises, and money, to fix the problem. (Ross and Ravindranath, 6/12)
Also —
AP:
President Offers Love And Pride For His Son's Addiction Recovery After Hunter Biden's Guilty Verdict
President Joe Biden kept his distance from the courtroom where his son Hunter Biden stood trial on felony gun charges to avoid any appearance of meddling but his quick statement reacting to the jury’s guilty verdict Tuesday spoke to where his heart has been all along. “Jill and I love our son, and we are so proud of the man he is today,” Biden wrote. “So many families who have had loved ones battle addiction understand the feeling of pride seeing someone you love come out the other side and be so strong and resilient in recovery.” (Long, Miller and Madhani, 6/11)
