The Vermont House of Representatives has passed a bill that would allocate $1 million to eliminate around $100 million of medical debt for over 60,000 moderate- and low-income Vermonters. The bill also aims to prohibit reporting medical debt to credit agencies and enhance consumer protections in medical debt collection. Vermont Treasurer Mike Pieciak believes that this proposal will provide life-changing relief to those at risk of bankruptcy due to high healthcare costs.
The bill, first introduced in January, has received widespread support from politicians and officials in Vermont. Speaker of the House Jill Krowinski emphasized the importance of relieving families from the burden of medical debt and providing economic fairness. Treasurer Pieciak highlighted the high healthcare costs in Vermont and the need to address the issue of medical debt to prevent financial hardship.
Representative Alyssa Black noted that medical debt is not a reflection of financial responsibility but rather a gap in the healthcare system. By removing it from credit reports, Vermonters will have the opportunity to rebuild their lives without medical debt holding them back.
The bill will undergo a third reading before heading to the Senate for consideration of minor amendments. Treasurer Pieciak is optimistic that the bill will be passed quickly and sent to the governor for approval. If passed into law, this bill will provide much-needed relief to thousands of Vermonters struggling with medical debt and offer them a fresh start.
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