Trump Administration Targets Medical Debt on Credit Reports
The Trump administration is set to issue guidance that would prohibit states from removing medical debt from consumers' credit reports, according to a notice on the Consumer Financial Protection Bureau's website.
This move is expected to worsen the financial burden of rising medical costs, affecting around 100 million Americans, despite over 90% of the population having health insurance.
Medical debt in the US has reached an estimated $220 billion, exceeding the economies of many states.
The guidance deems that federal law overrides any state law that limits the inclusion of medical debt on individuals' credit reports.
- Over 90% of Americans have health insurance
- Medical debt in the US: estimated $220 billion
- Around 100 million Americans affected
Author's summary: Trump's administration aims to keep medical debt on credit reports.
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