Category: Medical Debt
Medical Debt refers to the financial burden incurred from unpaid healthcare expenses, often arising when individuals or families are unable to cover the costs of medical treatments, procedures, or hospital stays. This type of debt can result from high out-of-pocket costs, insufficient insurance coverage, or unexpected medical emergencies, leading to significant financial strain. Medical debt can affect credit scores and financial stability, and it often presents challenges in accessing affordable care or managing long-term financial health. Efforts to address medical debt include policy reforms, debt forgiveness programs, and initiatives aimed at improving transparency and accessibility in healthcare billing.