APMA Submits Comments on the Prohibition on Creditors and Consumer Reporting Agencies Concerning Medical Information

APMA submitted comments to the Consumer Financial Protection Bureau (CFPB) to express concerns regarding a proposed rule prohibiting creditors from using medical debt to determine credit eligibility. In the rule, the CFPB is proposing changes to how creditors and consumer reporting agencies treat medical information concerning a consumer’s medical debt to ensure the use of such information is consistent with the congressional intent to safeguard consumers’ privacy and restrict the use of medical information for inappropriate purposes.

While APMA is aware the difficulty patients face when it comes to managing medical debt, APMA nevertheless wished to convey the possible ramifications for health-care professionals if the proposed rule were to be implemented. There is a strong concern that if such a rule is finalized, it could create a disincentive for patients to pay their medical bills, thus burdening medical practices, including podiatric practices.

To read the letter in its entirety as well as other APMA comments, visit www.apma.org/comments.