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Treasurer proposes $1 million for statewide medical‑debt buyback and credit‑report protections, plans partnership with nonprofit
Summary
State Treasurer testified in favor of S.27, proposing a $1 million appropriation to contract with nonprofit Undue (formerly RIP Medical Debt) to purchase and abolish qualifying medical debt for low‑ and moderate‑income Vermonters and to bar medical‑debt reporting to credit bureaus going forward.
The state treasurer told the House Committee on Health Care that S.27 would pair a one‑time medical‑debt purchase program with a ban on reporting medical debt to consumer credit bureaus, and proposed using $1 million in reallocated funds to purchase qualifying debt through a contract with Undue (formerly RIP Medical Debt).
The treasurer described medical debt as distinct from other debts because patients often have no opportunity to delay care or shop for lower prices. The treasurer said the proposed program would target Vermonters at or below 400% of the federal poverty level and would focus on eligible debts that are at least 12 months old and have completed billing and collection steps.
How the program would work
- Contract and outreach: The treasurer said the office would contract with Undue to negotiate with participating providers (hospitals and other liable providers), receive de‑identified debt files, and evaluate accounts for…
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