Bernie Sanders pledges to cancel $81 billion in U.S. medical debt
Democratic presidential candidate Sen. Bernie Sanders speaks at the Democratic National Committee's summer meeting in San Francisco. Photo: Josh Edelson/AFP/Getty Images
Democratic presidential candidate Sen. Bernie Sanders (I-Vt.) tweeted on Saturday about plans to cancel "all $81 billion in existing past-due medical debt."
"In the United States of America, your financial life and future should not be destroyed because you or a member of your family gets sick. That is unacceptable. I am sick and tired of seeing over 500,000 Americans declare bankruptcy each year because they cannot pay off the outrageous cost of a medical emergency or a hospital stay."— Sen. Bernie Sanders statement
- Sanders has yet to reveal details of how the proposal would be financed, but he said the federal government would negotiate and pay off past-due medical debt that's been reported to credit agencies.
- He plans to repeal some elements of the 2005 bankruptcy reform bill and allow other existing and future medical debt to be discharged, per the New York Times.