New rule wipes medical debt from consumer credit reports

Healthcare DIVE January 8, 2025
Susanna Vogel

The rule will remove an estimated $49 billion in medical bills from about 15 million Americans’ credit reports and bars lenders from using medical information in their lending decisions.

Dive Brief:

• On the way out the door, the Biden administration finalized a rule that removes medical debt from consumer credit reports and bars lenders from using medical information in lending decisions.
• The rule will remove an estimated $49 billion of medical debt from approximately 15 million Americans’ credit reports, raising impacted consumers’ credit scores by an average of 20 points, according to Vice President Kamala Harris, who announced the final rule Tuesday.
• The administration has also directed states and localities to use American Rescue Plan funds for medical debt...

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