As we are all painfully aware, healthcare costs have been climbing double digit rates. We’re paying more money for less care. You would think so called “non-profit” hospitals would try to help us out. Not the case with Kaleida Health, which operates five hospitals across the state of New York. They now market lines of credit to cash strapped customers.
G.E. Money’s CareCredit is what they’ve been pushing, which they claim lets you “pay for it over time with low monthly payments that are easy to fit into your monthly budget.” Obviously I am pro-credit, but this is crossing the line. We should not be taking advantage of the sick by profiting off them every way we can.
In 2007, Americans spent an estimated $250 billion on out of pocket medical expenses. It’s no wonder 24% of that spending is going on credit cards. Many of these people put those charges on their cards simply to earn rewards, and they pay their bills monthly, but still many are not. Fortunately, none of the major credit cards are marketed for healthcare. We can try and make the credit card companies the scapegoat, but honestly they aren’t to blame. It’s the politicians, pharmaceuticals, insurance companies, and “non-profit” hospitals like Kaleida that have pushed us to the brink, forcing us to find other ways to pay our healthcare costs.