Medical debt remains on credit reports
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Amazon S3 on MSNHow To Cut Medical Bills and Beat CollectionsCrushed by medical bills? You’re not alone. And you have rights (they don't want you to know about). In this video, I’ll show you real ways to lower your medical bills, erase your debt, and deal with collection agencies.
A program launched by Gov. Katie Hobbs over a year ago has benefited 352,000 families, who are being notified their medical debt is gone.
According to the Governor's Office, the charity, having already used $2 million of the governor’s allocation, has erased $429 million in medical bills owed by about 352,000 state residents.
Over 352,000 Arizona residents are getting $429 million in medical debt relief through a state partnership with a national nonprofit organization.
In 2024, Hobbs announced an initiative to erase $2 billion in medical debt for up to one million Arizonans. Those eligible for debt relief include individuals who earn 400% of the Federal Poverty Level or below and/or individuals who owe at least 5% of their annual income for outstanding bills.
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In this Money Moment, we've talked a lot about the affects of President Donald Trump's Big Beautiful Bill on your wallet; and a look at medical debt for consumers.
Doctors regularly need to pay more than $300,000 for medical school, including tuition and housing. New regulations signed by President Donald Trump cap their federal borrowing at $200,000 for medical degrees.