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Started By
Message
Medical Debt Should Not Ever Be Used to Harm Credit Worthiness
Posted on 5/8/24 at 8:35 pm
Posted on 5/8/24 at 8:35 pm
I have always wondered how or why a person's credit worthiness can be harmed by medical debt. Incurring debt is generally a decision made by the debtor.
Getting sick or injured is not a decision made by the sick or injured. Why should credit worthiness take a hit?
Bill to Cancel Medical Debt Coming
Getting sick or injured is not a decision made by the sick or injured. Why should credit worthiness take a hit?
Bill to Cancel Medical Debt Coming
33
Posted on 5/8/24 at 8:38 pm to Timeoday
Medical debt doesn’t hurt your credit score. Not paying your medical debt back does.
Posted on 5/8/24 at 8:43 pm to Timeoday
There is no such thing as cancelling a debt. Someone is getting screwed. Who is it? The doctor not getting paid? The insurance company that is owed? The person that paid for their medical?
Govt is picking winners and losers with other peoples money. Such a noble cause. Good grief.
Govt is picking winners and losers with other peoples money. Such a noble cause. Good grief.
Posted on 5/8/24 at 8:45 pm to Timeoday
“Doctors and nurses shouldn’t be paid for their labor”
There, I fixed OP
There, I fixed OP
Posted on 5/8/24 at 9:01 pm to Timeoday
What’s next, vet bills? Car mechanics? Professionals are entitled to be paid for their services.
Posted on 5/8/24 at 9:02 pm to Timeoday
The government doesn't control credit scores (that we know of). Those are private rating agencies with their own private data mining operations.
"Forgiving" medical debt won't change the credit score.
If Credit Scores hurt by medical debt are a problem, then congress can say no credit scores affected by medical debt, and force the credit scoring agencies to abide.
Simply paying off medical debt for hundreds of millions of people doesn't fix their credit score.
"Forgiving" medical debt won't change the credit score.
If Credit Scores hurt by medical debt are a problem, then congress can say no credit scores affected by medical debt, and force the credit scoring agencies to abide.
Simply paying off medical debt for hundreds of millions of people doesn't fix their credit score.
Posted on 5/8/24 at 9:05 pm to Timeoday
quote:
I have always wondered how or why a person's credit worthiness can be harmed by medical debt.
If you don't pay a person you owe money to, the next person you ask to lend you money will be curious if you will also not pay the money you owe them. Mystery solved here.
quote:
The burden of medical debt appears to disproportionately fall on certain marginalized communities in the US.
I knew this would be in the article.
Posted on 5/8/24 at 9:08 pm to Timeoday
The last time I checked it costs money to provide medical services. Your doctor has to pay his rent, office staff, malpractice insurance, etc. Most doctors and hospitals will accept monthly payments even in small amounts and will not report the account as delinquent if regular payments are made.
Posted on 5/8/24 at 9:23 pm to Timeoday
We live in the richest, wealthiest most powerful country in history and many people still go fricking bankrupt from getting sick. What a place.
Posted on 5/8/24 at 10:46 pm to Timeoday
It’s almost like there’s a solution to this problem that exists everywhere but the US.
Posted on 5/8/24 at 10:47 pm to Timeoday
Should've gotten better insurance.. or voted for Bernie
Posted on 5/8/24 at 11:13 pm to Timeoday
quote:
Getting sick or injured is not a decision made by the sick or injured.
Not all healthcare is the same.
Routine and preventive care is a lot different than catastrophic care.
We should be able to treat routine and preventive care like any other free market like service. Neither the seller or buyer have any kind of advantage.
The problem with catastrophic care is the provider has all the negotiating power. No one has the ability to get quotes and read reviews when you're having a heart attack. This has created a lack of natural market price pressure on the service.
During the evolution from health insurance to HMOs to what he have now we have linked all health care together in some massive costs sharing program with only the insurance provider caring about the costs. And they are regulated to pool all costs...not just risks (which is what the insurance model was built for).
The current system also incentivizes going to the doctor or ER if there is any doubt.
Once we went to HMOs it was all down hill from there. People stopped having control of their care and wanted everything packaged into one nice cheap plan.
deregulate and delink healthcare from employment. There will be a disruption but things will resettle once people take charge of their care and insurance companies can go back to just insuring against risks.
If you go for a check up....freaking pay for it. It's your health.
Posted on 5/9/24 at 4:13 am to Timeoday
quote:
Getting sick or injured is not a decision
Americans are not healthy for many reasons. Being obese is a choice. You can self insure by being active, exercising, eating right and being in shape. Doesn’t mean you can’t get sick but it greatly reduces your risk and chances.
Posted on 5/9/24 at 4:48 am to Timeoday
quote:CSB.
Medical Debt Should Not Ever Be Used to Harm Credit Worthiness
Patient awaiting appendectomy with his wife in curtained ER room was told by the hospital, he'd have to make arrangements to square a bill for a previous surgery before proceeding. Turns out they'd paid nothing toward that bill, and apparently hadn't planned to. A financial administrator came to see the couple. They did some dickering for a few minutes, and finally came to a structured payment agreement.
It was off-putting. In fact, I almost interceded. Because as you put it, getting appendicitis wasn't this guy's fault.
When the admin left, he pulled the curtain (which patients remarkably perceive as soundproof). The couple then proceeded to discuss who they were going to gift their 4 courtside Hornets season tickets to, while the husband was laid up.
Certainly the exception to the rule, but as with student loans, poor decision making (or grifting) can play into the equation.
This post was edited on 5/9/24 at 4:49 am
Posted on 5/9/24 at 5:16 am to Timeoday
A bill by Bernie is not going to be good for the nation. Are we supposed to support the govt writing a check for $250B or so, interfering with the market, prices, and all the decisions they compel? And what happens when these debts get paid and you rack up debt on the next day? Oh that's right, people like you will beg the govt to get involved again, and poof, we'll have government in control of our healthcare, which is the worst idea in the history of this nation.
The absolute lunacy of these positions never fails to amaze me. The government getting involved in healthcare is why our system is screwed up. The 1965 Medicare Act set all of this in motion. The answer is not more government. It's less government.
This is spectacularly stupid.
Good time to remind everyone that my plan returns healthcare to the free market. Want lower costs and less government? Return it to the free market.
The absolute lunacy of these positions never fails to amaze me. The government getting involved in healthcare is why our system is screwed up. The 1965 Medicare Act set all of this in motion. The answer is not more government. It's less government.
This is spectacularly stupid.
Good time to remind everyone that my plan returns healthcare to the free market. Want lower costs and less government? Return it to the free market.
Posted on 5/9/24 at 5:36 am to Timeoday
quote:
Getting sick or injured is not a decision made by the sick or injured. Why should credit worthiness take a hit?
Obesity is the root cause of millions of people being ‘sick’. Ditto smoking. Ditto drug use.
Those are all ‘decisions made by the sick or injured’.
Nice try.
Posted on 5/9/24 at 6:28 am to Timeoday
Most providers will give very favorable, interest free terms if yo I ask them. Oshners has a program just for that.
Posted on 5/9/24 at 6:41 am to Timeoday
quote:
Medical Debt Should Not Ever Be Used to Harm Credit Worthiness
Not a great idea.
There was a time the best and the brightest went into medicine.
Well that time has passed. We are now taking second rate students who no longer want to be great at what they do. They just want to be ok at it.
This has happened because physician payments have continued to get cut. So physician assistants and nurse practitioners make more than some doctors.
Physicians have to do substantially more work now to make the same salary they made 20 years ago. Everyone else has gotten raises secondary to cost of living. Physicians keep getting their reimbursement cut.
And now you want to say don't pay back your Healthcare bills and nothing will happen to you?
Just say you want doctors to do stuff for free. It will make Healthcare more affordable but it will be crap.
Posted on 5/9/24 at 6:53 am to Timeoday
Debt is debt.
Sorry. Dem da rules.
You can feel free to thank LBJ, Dems and the "Great Society" for this.
Sorry. Dem da rules.
You can feel free to thank LBJ, Dems and the "Great Society" for this.
Posted on 5/9/24 at 7:17 am to Timeoday
Just think if government wasn’t involved in healthcare that there wouldn’t be that many instances in which people could rock up that kind of debt
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