Medical debt statistics in the United States are alarming. According to a 2019 study conducted by NerdWallet Health, over 52 million people are currently burdened with such debt—with out-of-pocket expenses for medical services having risen 43% since 2003. The impact on households and low-income people has been significant. Many are not able to pay for the necessary treatment, leading to a worsened health outcome or even death.
This problem is further exacerbated by laws that make it easier for insurance companies and healthcare providers to collect payment from patients, without considering their financial situation. The Consumer Financial Protection Bureau recently proposed new rules that would limit how debts are pursued as well as require creditors provide more accurate information about payment plans when billing patients—which could help reduce the economic burden associated with this problem if implemented properly. However, only time will tell if these measures prove successful in addressing one of America’s most pressing public health challenges.