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Just the very fact that Americans can acquire medical debt poses a huge opportunity cost to the economy. A lot of people just don’t take the risks necessary to be an entrepreneur because they cannot afford to leave their job & go without insurance. There is a reason why countries like Sweden are very entrepreneurial; people don’t have to worry about losing everything if they or an immediate family member develops a health condition.
We have to figure this out.
Agree with Robert H. The combination of high medical prices and high insurance deductibles (along with less-than-universal coverage) results in financial burdens for many and risks for all of our citizens.
Medical Debt collectors are evil predators that prey on both the medical providers and the sick and injured patients !
This proposal would be a positive step. How many bankruptcy filings are driven by overload of medical bills. How many families and individuals who pay bills, work hard to buy a home then it all crashes because your child develops a life threatening disease.
I think a proposal should consider banning insurance companies from using your Credit Score to determine policy cost.