Health care Costs Causing Rise in Credit Card Debt

Many people in the United States do not have health care coverage, or the health care coverage that they have is not enough for their needs. Because of this, credit cards are consistently being used to pay for deductibles, co payments, and products or services that are not covered by a person's health insurance. This, in turn, is causing a rise in credit card balances and credit card debt.

The habitual practice of creating one debt by paying off another only causes the debtor more problems. Most doctor's offices and hospitals have lenient repayment terms for patients and their families who do not have health care coverage or whose health care coverage is inadequate for their health care needs. Entering into a repayment agreement with a doctor's office or hospital would be much less expensive in the long run than incurring the costs of a high credit card balance, because of the extremely high interest rates and required minimum monthly payments.

Although the health care system in this county is not one that supports people in the middle class majority, most health care providers are willing to work with their uninsured and the under insured patients. With the terms and conditions that the credit card companies exert on their customers make it a bad decision to use them as a way to pay off an already existing debt. Creating one debt to rid yourself of another is never a good idea.

Contributing National Payday Staff Writer

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