this post was submitted on 16 Dec 2023
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me_irl
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for Americans, cutting out the ambulance ride would shave off a little of the generational debt they'd incur from that hospital visit
I'm not defending the awful medical system we have, but there's some misconceptions here.
The initial bill you get from a hospital is the same bill insurance gets so that the hospital and insurance can play the stupid negotiation game. If you call, they will reduce the amount.
[I myself misunderstood this one]
There is no "generational debt." Unless you are a cosigner, you are not responsible for your deceased relatives' debts. If they try to collect from you personally, never accept responsibility for the debt and tell them to kick rocks. The estate of the deceased will be liable and is used to satisfy debtees. This is why it is important to have a professional handle the estate before any divisions are made.
Edit: removed my own misconception.
I think having your parents estate liquidated for medical bills can be considered an aspect of "generational debt."
Even ignoring monetary inheritance or real estate, items of sentimental value that would otherwise be bequeathed can be lost due to medical debt.
While strictly true that the debt cannot be inherited, the debt is in the way of anything else being inherited.
If it’s more than $500, you have 365 days to pay it or set up a payment plan. After that, it will absolutely appear on your credit report.
They definitely showed up on mine. When I went to speak with a financial advisor a few years ago about what it would take for me to purchase a house, there the debts were on her computer screen.
I don’t know if they’re supposed to consider those debts, but they are definitely on there.
I see you're right, apologies. I misunderstood the change.
I'm joking around obviously it's not to that scale
My bad, hard to tell. There are people who believe that, so just wanted to clear it up if that was the case. It could save someone a lot of hassle.