Coronavirus Update: Number of Americans with medical debt fell 18% from 2020–22
The number of Americans with medical debt on their credit reports fell by 8.2 million, or about 18%, between 2020 and 2022, according to a report Tuesday from the U.S. Consumer Financial Protection Bureau, the Associated Press reported.
The CFPB has also been working to reduce medical debt, and the major credit-rating agencies said last year they will no longer include in their reports medical debts below $500 or debts that have been repaid. The news comes as the seven-day average of new U.S. COVID cases continues to fall. It stood at 39,199 on Tuesday, according to a New York Times tracker, down 13% from two weeks ago. The daily average for hospitalizations was down 11% to 28,522. The average for deaths was 428, down 13% from two weeks ago.
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18% drop since 2020 in people with reported medical debtThe number of people with medical debt on their credit reports fell by 8.2 million — or 17.9% —between 2020 and 2022.
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