How will you pay your medical bill? Cash, check, arm and leg?
Posted Jan 27 2009 6:00pm
Lori Swanson, the Attorney General of Minnesota has filed a lawsuit against Allina Hospitals and Clinics for charging consumers 18% interest on medical bills. You read that right 18%.
As if we needed a further reminder that the medical system in this country is a mess. I don't think anyone thinks they should be treated for free but medical expenses are the number one reason for people filing bankruptcy and most of the people filing have health insurance.
The Attorney General asserts that the state law limits that the rate be no more than 8 percent.
Allina states that they had decided last month to reduce the interest rate on all current and future accounts to 8 percent. But of course, they also insist that what they were doing before at 18 percent was completely legal as well.
I don't know what the ultimate solution is for our health care system but I truly believe there's got to be a better way than accruing massive interest rates on your very survival. what do you think?