Medical debt and your credit: It's changing and we have an update

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Marketplace

News, Business

4.8 • 1.3K Ratings

🗓️ 3 June 2025

⏱️ 9 minutes

🔗️ Recording | iTunes | RSS

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Summary

Money borrowed for hospitalization is seen by many as different from paying what you owe for consumer goods: The debt is seldom from discretionary spending. The Biden-era Consumer Financial Protection Bureau had moved to protect credit scores from medical debt, but the agency is now reversing course. A nonprofit called Undue Medical Debt, led by CEO Allison Sesso, works to pay off people's medical debt as a charitable endeavor. But first, Trump's spending bill moves to the Senate.

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0:57.3	Medical debt in your credit, it is changing, and we have an update. Now that members of Congress are back from the holiday break,
1:04.8	the focus is on Republicans in the Senate trying their hand at the big spending and taxing bill.
1:10.3	Marketplace's Nancy Marshall-Genzor reports.
1:12.6	The bill would extend the 2017 tax cuts, which are scheduled to expire at the end of this year.
1:18.3	It would also boost spending on defense and border security.
1:21.9	All that's expensive.
1:23.3	The Congressional Budget Office estimates the legislation would increase the federal deficit
1:27.9	by almost $4 trillion. That upsets Senate deficit hawks who want to lower the bill's price tag.
1:34.4	Ron Johnson, a Wisconsin Republican, is calling for a return to pre-pandemic spending levels.
1:40.5	Republican Senator Rand Paul of Kentucky wants to drop a provision in the bill that would raise the federal debt ceiling.
1:46.9	Other GOP senators like Josh Hawley of Missouri object to potential cuts to Medicaid, which provides health care to low-income Americans.
1:55.4	Holly wrote an op-ed in the New York Times.
1:58.1	He said around 21 percent of Missouri residents benefit from Medicaid or CHIP,
2:03.2	which ensures low-income children. Democrats are not expected to support the legislation,
	...

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