Medical debt refers to debt incurred by individuals due to health care costs and related expenses.
Medical debt is different from other forms of debt, because it is usually incurred accidentally or faultlessly. People do not plan to fall ill or hurt themselves, and health care remedies are often unavoidable; medical debt is often treated with more sympathy than other kinds of debt resulting in advice that people ought not try to convert it to credit card debt.
Read more about Medical Debt: United States
Famous quotes containing the words medical and/or debt:
“One fellow I was dating in medical school ... was a veterinarian and he wanted to get married. I said, but you’re going to be moving to Minneapolis, and he said, oh, you can quit and I’ll take care of you. I said, “Go.””
—Sylvia Beckman (b. c. 1931)
“Good government cannot be found on the bargain-counter. We have seen samples of bargain-counter government in the past when low tax rates were secured by increasing the bonded debt for current expenses or refusing to keep our institutions up to the standard in repairs, extensions, equipment, and accommodations. I refuse, and the Republican Party refuses, to endorse that method of sham and shoddy economy.”
—Calvin Coolidge (1872–1933)