Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Advocates urge tighter rules for medical credit cards as providers and issuers warn of access impacts
Summary
A public hearing on HB5127 drew wide testimony about 'medical credit cards' such as CareCredit: consumer advocates and legal-aid groups described surprise retroactive interest and debt traps, while providers and Synchrony/CareCredit warned that strict limits could reduce access to care. Committee members pressed for clearer disclosures and guardrails.
The General Law Committee heard hours of testimony Feb. 18 on House Bill 5127, the measure aimed at curbing deceptive practices tied to so-called medical credit cards offered in provider offices.
Supporters from consumer groups and legal-aid organizations described repeated complaints that patients were signed up for promotional "0%" plans without full understanding. David Zhao, a public-interest attorney who testified from California, said consumers were sometimes signed up "while in the dental chair" and later surprised when deferred interest retroactively applied. "These practices have not stopped," he said, citing litigation and Consumer Financial Protection Bureau inquiries.
Speakers said the most harmful features include retroactive deferred interest (where interest is assessed on the original date if the promotional…
Already have an account? Log in
Subscribe to keep reading
Unlock the rest of this article — and every article on Citizen Portal.
- Unlimited articles
- AI-powered breakdowns of topics, speakers, decisions, and budgets
- Instant alerts when your location has a new meeting
- Follow topics and more locations
- 1,000 AI Insights / month, plus AI Chat
