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Medical debt, and the impact on older Americans

Medical debt remains a serious problem among older Americans. Nearly 4,000,000 people over the age of 65 have about $54 billion in unpaid medical bills. This astonishing number averages out to be $13,800 per person as calculated by the Consumer Financial Protection Bureau (CFPB). Medical debt among seniors is a widespread problem that appears to be getting worse. But before diving into the topic, with Debt Awareness Week starting March 18, it’s important to first understand what this type of debt means.

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