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Medical Debt Archives

The problem of surprise medical bills

Even for Kentucky residents who have health insurance, surprise medical bills may sometimes arrive. Many people have plans that limit them to seeing providers who are in their networks. If a doctor provides services and is not in the network, the patient may be billed for the difference between what the doctor charges the insurance company and what the company actually paid for the medical services.

FCC limits cellphone calls about unpaid medical bills

Medical debt often inflicts financial hardship on Kentucky households. Because of aggressive tactics by the collection industry, the Federal Communications Commission has issued a ruling curtailing robo-calls from collection agencies directed at cellphone numbers. According to the FCC, a cellphone number can only be called by a collections company if the debtor has granted permission to be contacted by that number for billing issues.

Resolving past medical debt in Kentucky

It is estimated that medical debt has lowered the credit scores of 30 million Americans. While many of those impacted do not have health insurance, many of those who do have been affected as well. Many times, a medical debt listed on a credit report is listed in error or is not a valid obligation. Therefore, it is recommended that everyone check their credit periodically to look for errors.

Changing how medical debt is reported

Debtors in Kentucky may be interested in learning more about major changes to the credit industry that were announced on March 9. All three major credit bureaus have committed to changing the way medical debt is reported and improving how they respond to errors identified by consumer complaints. The New York State Attorney General began investigating the three bureaus in 2012 and was able to negotiate these changes as part of a settlement.

The effect of medical debt on a credit score

Medical debt is a big problem for many Kentucky residents who are hoping to raise their credit scores. In fact, almost half of all collection accounts that are listed on credit reports are for unpaid medical bills. The Federal Reserve reported that one out of every six credit reports in the U.S. contains at least one unpaid medical bill that has gone into collections.

NerdWallet investigation confirms that medical debt is still significant problem

Medical debt is among the biggest financial challenges Americans face, and according to a recent investigation by NerdWallet, the problem isn’t because Americans are spending their money elsewhere. The NerdWallet investigation involved an online survey of 2,016 American adults 18 years old and above, as well as public and private sector reports on consumer debt, medical billing errors and hospital prices.

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Law Office of Ginger C. Cord, PSC
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Lexington, KY 40507

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