[{"data":1,"prerenderedAt":-1},["ShallowReactive",2],{"doc-seo-281563-105":3,"detail-sidebar-cat-1-en-105":81,"doc-detail-281563-en":127},{"code":4,"msg":5,"data":6},0,"ok",{"site_id":7,"language":8,"slug":9,"title":10,"keywords":11,"description":12,"schema_data":13,"social_meta":74,"head_meta":76,"extra_data":78,"updated_unix":80},105,"en","advocacy-letter-on-medical-payment-products-request-for-information","Advocacy Letter on Medical Payment Products - Request for Information","","Advocacy letter submitted by the New York City Department of Consumer and Worker Protection to respond to a Consumer Financial Protection Bureau request for information on medical payment products under Docket No. CFPB–2023–0038. The letter outlines DCWP’s consumer-protection mission, highlights how medical debt burdens New York City residents through high health costs and ineffective billing and payment practices, and discusses harmful dynamics around medical credit cards and installment plans. It also notes the nonprofit hospital landscape and related financial assistance 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is the purpose of this letter and which docket does it address?","Question",{"text":63,"@type":64},"The letter responds to the Consumer Financial Protection Bureau’s request for information regarding Medical Payment Products, addressing Docket No. CFPB–2023–0038.","Answer",{"name":66,"@type":61,"acceptedAnswer":67},"Why does the letter emphasize the medical debt situation in New York City?",{"text":68,"@type":64},"It highlights that consumers face record debt from higher health costs and that current billing and payment practices fail to address the health care cost crisis, contributing to widespread vulnerability and inability to repay unexpected bills.",{"name":70,"@type":61,"acceptedAnswer":71},"What concerns does the letter raise about medical payment products?",{"text":72,"@type":64},"It notes that products like medical credit cards and private installment plans may appear to offer quick fixes, but their advertising and “no interest” financing can target underinsured consumers and may lead to dire financial and health consequences.","https://schema.org",{"og:url":32,"og:type":75,"og:title":10,"og:site_name":45,"og:description":12},"article",{"robots":77,"canonical":32},"index,follow",{"doc_id":79,"site_id":7},281563,1790916322,{"code":4,"msg":82,"data":83},"success",[84,89,94,99,104,109,114,118,123],{"id":85,"doc_module":22,"doc_module_name":25,"category_name":86,"show_sort_weight":87,"slug":88},11,"Presentations",90,"presentations",{"id":90,"doc_module":22,"doc_module_name":25,"category_name":91,"show_sort_weight":92,"slug":93},12,"Resumes",80,"resumes",{"id":95,"doc_module":22,"doc_module_name":25,"category_name":96,"show_sort_weight":97,"slug":98},14,"Invoices",70,"invoices",{"id":100,"doc_module":22,"doc_module_name":25,"category_name":101,"show_sort_weight":102,"slug":103},15,"Posters",60,"posters",{"id":105,"doc_module":22,"doc_module_name":25,"category_name":106,"show_sort_weight":107,"slug":108},16,"Social 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Templates",5,"papers-templates",{"id":124,"doc_module":22,"doc_module_name":25,"category_name":125,"show_sort_weight":4,"slug":126},158,"General","general-158",{"code":4,"msg":82,"data":128},{"doc_id":79,"user_id":129,"nickname":42,"user_avatar":130,"doc_module":22,"category_id":115,"category_name":29,"doc_title":10,"doc_description":12,"doc_content":131,"file_id":132,"file_url":133,"file_type":134,"file_size":135,"view_count":55,"is_deleted":4,"is_public":22,"is_downloadable":22,"audit_status":22,"page_count":90,"language":136,"language_code":8,"site_id":7,"html_lang":8,"table_of_contents":137,"faqs":138,"seo_title":139,"seo_description":12,"update_tm":140,"read_time":33},5909892115043,"https://ap-avatar.wpscdn.com/davatar_6f874abed73319feea01a86fa6f0fab8","Vilda Vera Mayuga  \nCommissioner  \n42 Broadway  \n8th Floor New York, NY 10004  \nThe Consumer Financial Protection Bureau Via Electronic Submission  \nRe: Docket No. CFPB–2023–0038: Request for Information Regarding Medical Payment Products  \n[nyc.gov/dcwp](nyc.gov/dcwp)  \nSeptember 11, 2023  \nThe New York City Department of Consumer and Worker Protection appreciates the opportunity to respond to the Consumer Financial Protection Bureau (“CFPB”), Centers for Medicare & Medicaid Services, Department of Health and Human Services (“HHS”), and Department of the Treasury’s (“Treasury”) (collectively, the “agencies”) request for information regarding Medical Payment Products (Docket No. CFPB–2023–0038) .  \nFor over fifty years, the New York City Department of Consumer and Worker Protection (“DCWP”) has carried out its mission to protect and enhance the daily economic lives of New Yorkers to create thriving communities. DCWP licenses more than 45,000 businesses in more than 40 industries, and it enforces key consumer protection, licensing, and workplace laws. By supporting businesses through equitable enforcement and access to resources, and by helping to resolve consumer and worker complaints, DCWP protects the marketplace from predatory practices and strives to create a culture of compliance. Through its community outreach and the work of its offices of Financial Empowerment and Labor Policy & Standards, DCWP empowers consumers and working families by providing the tools and resources they need to be educated consumers and achieve financial health and work-life balance. DCWP also conducts research on financial inequities, predatory practices, and best policies to combat these practices. Finally, DCWP advocates for public policy that furthers its work to support New York City’s communities to protect consumers and workers and combat economic inequities.  \nRecently, DCWP has been focusing on medical debt—the causes of medical debt, the often-deceptive factors exacerbating medical debt, and the predatory practices used to collect medical debt in New York City. This important work includes closely monitoring policy, regulatory, and legal developments related to medical debt, such as transparency in pricing, access to financial assistance, billing practices, credit reporting, and collections practices.  \nBackground: The Medical Debt Landscape in New York City  \nAlthough the Affordable Care Act (“ACA”) reduced New York State’s uninsured population, more than one million New York State residents remain uninsured.1 The Center of Migration Studies estimates that this includes at least 672,000 New York City residents.2 However, whether insured or not, consumers in New York City are incurring record amounts of debt due to higher health costs—including premiums, deductibles, and copayments. According to a Kaiser Family Foundation Health Care Survey, about half of adults across the country who responded – including three in ten of those who do not currently have medical debt – are vulnerable to falling into debt, answering that they would be unable to pay a $500 unexpected medical bill without borrowing money.3 Worse, nearly one in five survey respondents with medical debt think they will never be able to pay it off.4 Clearly, the current medical billing and payment practice ecosystem is failing to address the health care cost crisis.  \nIn New York City, all hospitals are nonprofit entities, which means every hospital receive large tax breaks at the federal, state, and local levels. These hospitals also receive funds from the State’s $1.1 billion Indigent Care Pool (“ICP”) .5 Despite this, a recent study by Community Service Society on 21 nonprofit hospitals in New York City revealed that close to half of these nonprofit hospitals received $727 million more in federal, state, and local tax breaks than they gave back to their communities in financial assistance or “charity care.” According to the study, this excess amount would be enough to pay of","cbCaiiA7hymHmOkm","https://ap.wps.com/l/cbCaiiA7hymHmOkm","pdf",330130,"English","# Background: The Medical Debt Landscape in New York City\n## Medical debt drivers and consumer vulnerability\n## Hospital financial assistance and charity care gaps\n## Medical payment products and potential harms","[{\"question\":\"What is the purpose of this letter and which docket does it address?\",\"answer\":\"The letter responds to the Consumer Financial Protection Bureau’s request for information regarding Medical Payment Products, addressing Docket No. CFPB–2023–0038.\"},{\"question\":\"Why does the letter emphasize the medical debt situation in New York City?\",\"answer\":\"It highlights that consumers face record debt from higher health costs and that current billing and payment practices fail to address the health care cost crisis, contributing to widespread vulnerability and inability to repay unexpected bills.\"},{\"question\":\"What concerns does the letter raise about medical payment products?\",\"answer\":\"It notes that products like medical credit cards and private installment plans may appear to offer quick fixes, but their advertising and “no interest” financing can target underinsured consumers and may lead to dire financial and health consequences.\"}]","Advocacy Letter on Medical Payment Products - Request for Information | PDF",1789566766]