Surviving Spouses May Not Be Responsible for Partners’ Medical Bills
Published On Sep 27, 2024, 9:00 AM
The article discusses the dilemma faced by surviving spouses regarding medical debt following the death of their partner. Many of these spouses, often women in their 70s, may receive calls from debt collectors demanding payment for unpaid bills that may not be their responsibility. Legal experts advise that rules vary by state, and surviving spouses should not assume they are obligated to pay their deceased spouse's medical bills, especially during such a vulnerable time in their lives. The average unpaid medical debt for new survivors is around $29,000, which is significantly higher compared to other demographics.
Stock Forecasts
CLOV
Positive
Given the emotional and financial strain on surviving spouses, combined with potential legal reforms aimed at protecting them from unjust debt collection practices, investor interest may rise in companies that focus on consumer rights, financial counseling, or healthcare financial services. Companies engaged in these areas could see growth as the market becomes aware of the challenges faced by this demographic.
FICO
Negative
As discussions around consumer protections increase, companies that are involved in debt collection or medical billing could face increased scrutiny and regulatory pressures. This could lead to a negative market response for these firms as they adjust their practices and face potential legal risks.
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