Why don't large reductions in medical debt lead to better financial outcomes?
In this video, I explore the surprising findings on how medical debt forgiveness affects credit scores, delinquencies, and other financial measures.
It turns out that preventing or forgiving medical debt might not free up money as much as we expect.
Medical debt, while significant, is only a small part of a household's total liabilities.
With household debts totaling over $17 trillion, other financial burdens may overshadow the impact of medical debt.
What do you think about these findings?
Benedic Ippolito, PhD, Senior Fellow at the American Enterprise Institute in Washington, DC, testified before the Senate HELP Committee.
