Sacrificing Financial Health for Physical Health: The Implications of Medical Credit Cards

Rising healthcare costs have contributed to significant medical debt increases for Americans in recent years. One way patients are paying these charges is with a medical credit card. The increase in popularity of medical credit cards can, in part, be attributed to non-profit hospitals’ insufficient charity care offerings. Some hospitals are— themselves—offering healthcare financing products to patients rather than offering charity care. As a result, low income patients often become trapped in a cycle of medical debt. While patients may need help paying for their care, a predatory lending option should not be their first or only choice. Non-profit hospitals should be held to a higher charity care standard to protect all its patients, regardless of ability to pay.