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Americans warned to not take out medical credit cards

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Posted at 6:55 PM, May 10, 2023

CORPUS CHRISTI, Texas — Bills are a burden, especially when it's hard to pay them.

Medical bills leave 100 million Americans with healthcare related debt, which is why the Biden Administration warned Americans to not take out medical credit cards.

Medical credit cards are a way to pay for expenses like dental, labs, vision and medication. The Consumer Financial Protection Bureau Agency said that interest alone can raise medical bills by almost 25%.

41% of adults have health care related debt, but taking out a medical credit card should never be the first option.

"You should get one if you need dental work if you need eye work that your insurance simply doesn’t cover," credit expert Gabriel Garcia said.

Garcia recommends first getting medical insurance, which is now easier than before.

"There’s Blue Cross Blue Shield in Texas where if you make a certain amount of money you can actually get free medical insurance. That was enacted in January of 2023," Garcia said.

He also recommended speaking to a doctor about payment plan options.

Although medical credit cards aren’t popular, medical debt is. If the healthcare provider and personal doctor don’t communicate about proper payment options, the responsibility will fall on the one who needed help in the first place.