Consumer Medical Debt: NY Settlement Benefits Health Consumers | Mercer US

NY Settlement Benefits Health Consumers Across the US

Our Thinking / Healthcare /

NY Settlement Benefits Health Consumers Across the US
Calendar19 March 2015

In a prior post, I blogged about a new Kaiser Family Foundation analysis showing that Americans are struggling to pay their health plan deductibles. In addition, the Consumer Financial Protection Bureau has reported that an estimated 45 million consumers have credit reports affected by medical debt. That’s why it was good to hear that the three major credit reporting agencies recently agreed to be more flexible with consumer medical debt. As part of a settlement agreement with the NY Attorney General’s Office that covers consumers across the US, the credit agencies will institute a 180-day waiting period before the debts are placed on the credit report, and they will promptly remove the debt once it is paid by the insurer.

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