Credit

Washington Post, in a review of the growth of non-profits in the US, notes that the southern states have the least non-profit health care systems, as statistic which coincides with areas of higher medical debt — and the “Diabetes Corridor.”

Andrew Van Dam writes, “The South’s lack of nonprofits largely reflects a lack of nonprofit medicine. Other types of nonprofits tend to be more equitably distributed. As readers Tim Carter in Seattle and Joe Bogucki in Newnan, Ga., pointed out when we looked into credit scores, the South’s surfeit of for-profit hospitals might be another reason that region has such high medical debt.”

Washington Post article includes an interactive map of featured graphic, which is ©2023 WashPo.  Read the article here:

The real reason America’s nonprofit sector is seeing massive growth, and more!

Kaiser Health News reports that many hospitals are now working hand-in-hand with private financing to make it “easy” to pay for medical services — at a high interest rate and large profit.

READ THE STORY ONLINE

NC legislators are discussing new legislation which would relieve medical debt, especially for poorer families.  House Bill 1039, “The Medical Bill De-Weaponization Act,” is intended to provide strict guide rails for hospital and medical systems regarding aggressive collections of medical debts.

Read about it on NPR:
North Carolina considers new laws to ‘de-weaponize’ medical debt and protect patients

New rules for credit reporting of medical debt are now in effect – here is how to check your credit report to make sure it is accurate.

Read on CNBC:
Settled medical debt is now dropping off credit reports — here’s how to check your record and make sure it’s right

The three major credit reporting agencies – Equifax, Experian and TransUnion – have announced a change to how medical debt will be reported.  Medical debt paid within a year will be dropped for the report; later on, debts under $500 will not be reported at all.  However, debts which have not been paid in full will continue to be reported.  The good news for recipients of Debt Jubilee Project is that once the debt is paid, it will be removed from credit reports and no longer drag down credit ratings.

Read more from Forbes:
70% Of Medical Collection Debt Will Soon Be Removed From Credit Reports: Here’s What You Need To Know