You Shouldn’t Go Into Debt Because You Get Sick
But here we are
Medical debt is gross.
It is clear evidence that in American capitalism, profit beats people every time.
Insurance companies are the biggest winners in our healthcare system.
But other profiteers are eager to get their hands on cash from people unlucky enough to fall ill or face a medical emergency.
One example is the proliferation of medical credit cards.
“Financial firms are partnering with health care players to push products that can drive patients deep into debt,” said CFPB Director Rohit Chopra. “We are opening a public inquiry to better understand how these practices are affecting patients in our country.”
Doctors and hospitals rightly want to ensure they get paid. The finance companies behind medical credit cards make that happen. Then, they can charge interest and engage in aggressive debt collection tactics.
“Even when medical care may otherwise be covered by insurance or financial…
