Transcription of Medical Debt Burden in the United States
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Medical Debt Burden in the United States
CONS UMER FINANCIAL P ROTECTION BUREAU | FEBRUARY 2022. Medical Debt Burden in the United States Table of Contents Table of Contents ..1. Executive Summary ..2. 1. Introduction ..3. 2. The Medical Debt Prevalence and magnitude .. 5. Billing and collections practices .. 9. Population 14. 3. Adverse Impacts of Medical Debt ..24. Financial health .. 24. Physical & mental health .. 32. 4. COVID-19 COVID-related Medical debt .. 36. COVID-related policy changes .. 39. 5. Legislative and Regulatory State-level legislative developments.
• CFPB research shows $88 billion in medical debt on consumer credit records as of June 2021. The total amount of medical debt in collections in the U.S. is likely higher, since not all medical debts in collections are furnished to consumer reporting companies.
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