You Can Always Count On Aldeen’s Weekly Bathroom Read Series Which Has Never Missed A Deadline Even In The Hardest Of Times………We Can’t Wait For The Easter Edition…….
By Doug Aldeen
In a major move by all three credit reporting agencies (Transunion, Equifax and Experian) ALL paid medical debt will be removed from credit reports in addition to increasing the time in which to report any outstanding medical debt from 6 months to 12 months effective July 1, 2022. Moving forward effective July 1, 2023, outstanding medical debt <$500 will not be reported at all. While not fantastic, it certainly moves the needle in the right direction for:
RBP/Consumer: Establish a level of reimbursement that is an accurate reflection of what the facility typically accepts in the market and the ROI might not be worth it to hound the patient after 12 months. Time is money and the $5 payment plan (with inflation) is a losing proposition;
2. FAP: It probably should not even be debt in the first place so let us assist the not for profit facility meet its charitable endeavor;
3. Vinny and Guido Collection Agency: (time to find another crumb over which to squabble. Please leave a message…)
Post By Doug Aldeen, Esq., GHFAP (Godfather of Hospital Financial Assistance Policies & Other Neat Things)
Mobile: 309-531-3749
Email: doug@health-attorney.net
111 Sandra Muraida Dr., Suite 9P, Austin, TX. 78703
Young Aldeen Back In The Day
