SPRINGFIELD, Ill. (WAND) — A bill heading to Gov. JB Pritzker’s desk could prohibit consumer reporting agencies from including medical debt in credit reports.
Sponsors say medical debt should not be a barrier to financial stability or access to credit opportunities.
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Democrats and Republicans believe the legislation can ensure people are not unfairly penalized for needing medical care or struggling to pay healthcare costs.
"This legislation, I want to stress, does not mean consumers don’t have to pay that medical debt and their medical bills," said Sen. Steve Stadelman (D-Rockford). "I just believe medical debt is different than other debt. It’s spontaneous."
Roughly 20% of US households report that they have medical debt, according to the Consumer Financial Protection Bureau.
Roughly 20% of US households report that they have medical debt, according to the Consumer Financial Protection Bureau.
Senate Bill 2933 passed out of the Senate unanimously in April. The House voted 109-2 to approve the legislation Thursday.
New York and Colorado have passed similar plans to ensure financial equity.
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May 21, 2024 at 07:58PM
