Overhauling Obamacare could lead to spike in medical debt collections

Senate Democrats grill HHS pick Tom Price

Senate Democrats grill HHS pick Tom Price

More people have health insurance than ever before, but many still struggle to pay for care. According to a new report, medical debt is the No. 1 reason consumers reported being contacted by a collection agency. If efforts to overhaul the Affordable Care Act result in more people losing their coverage, those numbers could rise.

The study by the Consumer Financial Protection Bureau found that 59% of people who reported they had been contacted by a debt collector said it was for medical services. Telecommunications bills were the second most common type of overdue bill for which debt collectors pursued payment, at 37%, and utilities were third, reported by 28%.

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Personal finance news – CNNMoney.com

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