Four senators — Jeff Merkely (D-Oreg.), Chuck Schumer (D-N.Y.), Robert Menendez (D-N.Y.), Sherrod Brown (D-Ohio) — sent a letter to the Consumer Financial Protection Bureau asking it to make changes to how healthcare debts are reported to credit agencies, according to Health Tech Zone.
The four are speaking out against inaccurate information going out to credit rating agencies due to outstanding medical bills, which in some cases go to collection before insurance holders even see the bills.
The senators are also co-sponsors of a bill called the Medical Debt Responsibility Act, which gives credit agencies a maximum of 45 days to remove medical debt that has been settled or paid in full.
Outstanding medical bills can mean up to a 100-point deduction on a person's credit score that can remain for seven years.
More Articles on Medical Collections:
Nearly $50M in Rebates Paid to Insurance Policy Holders in Georgia, Tennessee
Iowa Medicaid Integrity Initiative Saved Taxpayers $30M This Year
Debt Collector Accretive Health Fined $2.5M by Minnesota, Banned From the State for Three Years
The four are speaking out against inaccurate information going out to credit rating agencies due to outstanding medical bills, which in some cases go to collection before insurance holders even see the bills.
The senators are also co-sponsors of a bill called the Medical Debt Responsibility Act, which gives credit agencies a maximum of 45 days to remove medical debt that has been settled or paid in full.
Outstanding medical bills can mean up to a 100-point deduction on a person's credit score that can remain for seven years.
More Articles on Medical Collections:
Nearly $50M in Rebates Paid to Insurance Policy Holders in Georgia, Tennessee
Iowa Medicaid Integrity Initiative Saved Taxpayers $30M This Year
Debt Collector Accretive Health Fined $2.5M by Minnesota, Banned From the State for Three Years