CNN —Connecticut will cancel roughly $650 million in medical debt for an estimated 250,000 residents this year, Gov.
More than 1 in 10 Connecticut residents have medical debt in collections.
New Jersey included $10 million in its most recent budget to fund a pilot program to cancel residents’ medical debt, and Gov.
Medical debt is now the largest source of debt in collections, totaling more than credit cards, utilities and auto loans combined, according to the White House.
And the Consumer Financial Protection Bureau and the Biden administration are also considering ways to minimize the burden of medical debt.
Persons:
Ned Lamont, Lamont, ” Lamont, “ It’s, Phil Murphy, ” Murphy, Jessica Hill, Allison Sesso, Biden
Organizations:
CNN, Gov, Connecticut Gov, New, New York City, Black, Third, Financial Protection Bureau
Locations:
Connecticut, Covid, New Jersey, New York