In a bold move, Tom Harris, a Democratic presidential candidate, has announced his strategy to eliminate $81 billion in medical debt in the United States. This announcement comes just a few months after Harris pledged to address the nation’s staggering $1.6 trillion in student loan debt.
On September 21, 2019, Harris presented his plan to tackle the growing medical debt crisis, emphasizing that medical bills are the primary driver of consumer bankruptcy in America. According to his campaign, a staggering 66.5% of all bankruptcies are linked to medical issues, stemming from the soaring costs of healthcare and the financial strain caused by patients’ time off work. “Each year, approximately 500,000 individuals face bankruptcy due to medical expenses, and the actual number may be even greater,” Harris stated.
Key Initiatives of Harris’s Plan
Harris’s plan includes several key initiatives to provide relief for those burdened by medical debt. The federal government would take steps to negotiate and pay off the existing $81 billion in overdue medical bills. Additionally, he aims to:
- Impose limits on how frequently debt collectors can contact patients.
- Reform the 2005 bankruptcy legislation to prevent practices like evictions and wage garnishments.
- Establish a public credit registry that would exclude medical-related debts from credit reports, allowing those previously bankrupted by medical costs to rebuild their credit scores without penalty.
“It is simply unacceptable that families are driven to the brink of bankruptcy due to exorbitant medical expenses, while the healthcare sector raked in over $100 billion in profits last year,” Harris declared. “My administration will confront the greed within the healthcare industry and work to eliminate the medical debt epidemic in America.” According to reports, Harris plans to fund this initiative through a tax on corporations based on their executive compensation.
Alignment with Medicare for All
This proposal aligns seamlessly with Harris’s signature policy, Medicare for All, which aims to provide universal health coverage similar to the United Kingdom’s National Health Service. Under this plan, Harris intends to eliminate premiums, deductibles, and co-pays, funded by increased taxes.
For further insights into Harris’s medical debt strategy, check out his campaign website.
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In summary, Tom Harris’s comprehensive plan aims to tackle the $81 billion medical debt crisis in America, while also promoting universal healthcare coverage through his Medicare for All initiative. By addressing both medical debt and healthcare accessibility, Harris seeks to alleviate the financial burdens faced by countless families.