Why you keep hearing about canceling medical debt

In this week's "Make Me Smart" newsletter, we explore the rise of medical debt forgiveness and how crypto is influencing the 2024 elections.
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The push to erase medical debt is gaining speed

Vice President Kamala Harris wants to erase medical debt for millions of Americans. The issue is getting more airtime leading up to November's election.
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Why one New York health system stopped suing its patients

May 14, 2024
Most U.S. hospitals aggressively pursue patients for unpaid bills. One New York hospital system decided to work with them instead.
Nationally, nearly half of adults are unable to cover a $500 medical bill without going into debt, a 2022 KFF poll found.
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Lawmakers and hospitals are divided on providing free care for tax breaks

Nonprofit hospitals say legislative efforts that require them to provide more free care could hurt the people they are intended to help.
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Has legislation to stop surprise medical bills worked?

Yes and no. Patients have avoided millions of surprise bills, but a plan to cut wider health care spending has seen mixed results.
"Ultimately, this law is protecting more people from the kinds of medical debt that you're covering on the show, but that protection may come at a price: higher insurance premiums for millions," said Dan Gorenstein, executive editor at Tradeoffs.
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How medical debt can exacerbate pain and suffering

As part of a live event, we break down the medical debts that some Americans owe and the shame, guilt and uncertainty that can come with it.
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How can we build a better health care system?

Experts say 3 million people in the U.S. have more than $10,000 in medical debt each.
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For public good, not for profit.

Health and Wealth: Why Americans are drowning in medical debt

Almost a third of all working adults in the United States are carrying some kind of medical debt — that’s about 15% of all U.S. households.
Medical debt is the leading cause of bankruptcy in the United States and affects almost a third of working Americans.
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Health care tops list of voters' economic worries

Feb 22, 2024
While inflation is moderating, some health-related costs are still climbing.
Health care affordability and inflation are top concerns for voters this year.
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More people are falling behind on debt, but fewer are in collections

Nov 8, 2023
Just before the pandemic, the New York Fed found that about 9% of people had bills that ended up in collections. Now, less than 5% do.
Medical debt previously made up about 60% of debt in collections. But data shows it doesn’t tell you much about someone’s creditworthiness.
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