In New York State, an estimated 6 percent of consumers—representing approximately 740,000 adults—had medical debt in collections on their credit records as of February 2022. A new data analysis from the Urban Institute, funded by the New York Health Foundation (NYHealth), finds nearly half of New Yorkers with medical debt owed $500 or more and may still have medical debt appear on their credit reports under current credit reporting practices. Last month, the New York State Legislature passed a bill, still under the Governor’s consideration, that would prevent all medical debt from being included in credit reports.
The analysis shows the disparities in medical debt throughout New York State and highlights the potential impact that removing medical debt from credit reports can have to improve financial equity and the well-being of all New Yorkers.
NYHealth created an interactive resource to show the breakdown of medical debt in New York State using data from the Urban Institute’s new report.
Contact: info@nyhealthfoundation.org.