I came across a recent article written by Evan J. Albright in which he states that medical debt, especially after 2015 will be a good indicator of financial responsibility and should affect where a consumer is loaned money. His argument is based on the passage of the Patient Protection and Affordable Care Act which caps outside medical expenses to what I assume believes is very affordable.
He believes that if medical bills appear on the credit report it is because:
- You did not have medical insurance
- You did not buy enough medical insurance
- You failed to maintain insurance
He states that all of the above reasons equate to financial failure of the consumer and that it is fair that they should have a lower score and not achieve the same level of borrowing.
While makes some good points he has complete lack of understanding of the medical billing systems as it stands today and will continue even after reforms. I think he completely wrong in that:
- For many Americans the health insurance exchange