After passing bills to add more price transparency and end surprise medical billing in recent legislative sessions, this year Colorado lawmakers are once again considering a bill to add more protections for patients
DENVER — .“The policy we're proposing caps the medical debt interest rate at 3%, which will give folks an opportunity to get their arms around debt they may incur without seeing the bill skyrocket out of control,” said Sen. Lisa Cutter, D-Littleton.
According to the Kaiser Family Foundation, four in 10 adults currently have medical or dental debt in the U.S. at the moment. Of those, half owe at least $2,500 while 12% owe more than $10,000. Coloradans currently owe more than $1.3 billion in medical debt. “We have to protect people protect families who are facing a crushing burden where they feel they may never get out from under it,” said Weiser.
“I was worn out physically. I was worn out emotionally. There were a lot of bills. It was confusing. I just wanted to be done,” Cravitz said. “I promptly called the phone number. And was told that the most I would say was $93.50, but they needed my help to collect what was rightfully owed for the full amount.”
She said keeping the trail of documents was key and she hopes this legislation will protect other consumers like herself. Tim Dienst, the administrative coordinator for the association, says EMS services are already some of the last to be paid from insurance companies and roughly 70% of their calls come from Medicare and Medicaid patients.
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