Request for Information Regarding Medical Payment Products



Request for Information Regarding Medical Payment Products

Subject: Medical payment products
Agency: CFPB, Treasury, Centers for Medicare & Medicaid Services
Request for information

The CFPB, an independent agency, HHS, and the Treasury (collectively, the agencies), are soliciting comments from the public and interested parties on medical credit cards, loans, and other financial products used to pay for health care. The agencies seek to understand the prevalence, nature, and impact of these products, including disparities across different demographic groups. The agencies also seek to understand the effects these products may have on patients and on the health care system. In particular, the agencies seek comment on whether these products may allow health care providers to operate outside of a broad range of patient and consumer protections. The agencies also seek comment on whether these products may contribute to health care cost inflation, displace hospitals’ provision of financial assistance, lead patients to pay inaccurate or inflated medical bills, increase the amount patients must pay due to financing costs, or otherwise harm patients’ mental, physical, and financial well-being, including through downstream credit reporting and debt collection practices. In line with the agencies’ work to lower health care costs and reduce the burden of medical debt, the agencies also seek comment on policy options to protect consumers from harm.

FR Doc: 2023-14726
Date proposed: July 7, 2023
Comments due date: Sept. 11, 2023
Effective date:

Rule compliance date:
Agency release:
Related Reg Report item(s):

High-cost medical financial products for consumers under microscope by three agencies