American cite high costs as barrier to getting health care
What could you afford if you were hit with a sudden medical bill? For many Americans, $249 is the limit.
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What could you afford if you were hit with a sudden medical bill? For many Americans, $249 is the limit.
Hospitals strike deals with financing companies, generating profits for lenders and more debt for patients.
Patients at North Carolina-based Atrium Health get what looks like an enticing pitch when they go to the nonprofit hospital system’s website: a payment plan from lender AccessOne. The plans offer “easy ways to make monthly payments” on medical bills, the website says. You don’t need good credit to get a loan. Everyone is approved.
Some credit cards advertised by hospitals lure in patients with rosy promises of convenient, low-interest payments on big bills. But interest rates soar if you can't quickly pay off the loan.
How banks and hospitals are cashing in when patients can’t pay for health care