Medical credit cards designed to cover patients’ costs are coming under increased scrutiny from the Biden administration, as are other loans and financial instruments offered to pay for consumers’ healthcare services.
In a rare collaborative healthcare effort by three federal agencies – the Consumer Financial Protection Bureau, the Department of Health and Human Services and the Treasury Department – the government seeks more information about such lending tools in the interest of potentially boosting regulation in the arena. The campaign follows on evidence of consumers being inappropriately steered to these higher-cost options.
