A tax expert describes how forgiving medical debts that a healthcare provider will more than likely never collect has an “incredibly low cost, generating very high return” for hospitals.
Working with cash-strapped patients to restructure or forgive their medical debts could provide an excellent return on investment for hospitals that probably aren’t going to recover the money anyway, one analyst says.
The biggest hurdle, however, is getting the federal government to agree with the idea, says Brian Haile, senior vice president of Health Care Policy at Nashville-based Jackson Hewitt Tax Service.
Haile says focus groups in Tennessee have that found low-income people with huge medical debts say they would be less likely to pay premiums for health insurance under programs such as the Affordable Care Act as long as they are paying older medical debts.
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