Bill > SB093

This bill aims to increase consumer protections in various medical transactions. The key provisions are: 1. It sets a maximum interest rate of 3% per annum on medical debt, which is defined as debt arising from healthcare services, products, devices, durable medical equipment, and prescription drugs (excluding debt charged to a credit card). 2. It requires debt collectors and collection agencies to provide an itemized statement of the medical debt upon the consumer's written request and without a fee. The itemized statement must include details such as the name of the medical creditor, dates of service, a list of services and products provided, the original principal amount, and information on any financial assistance or negotiated rates. 3. It imposes requirements on debt collectors and collection agencies related to payment plans for medical debt, including providing a written copy of the plan and giving notice before accelerating or declaring the plan inoperative. 4. It prohibits debt collectors and collection agencies from certain actions, such as reporting medical debt to credit agencies or initiating legal action, while an internal, external, or other appeal of a health insurance decision is pending or was pending within the previous 63 days. 5. It requires creditors or their debt collectors to attach an itemized statement of charges to any legal complaint on a medical debt, and to provide certain documentation to the court before obtaining a default judgment. 6. It designates violations of certain existing laws related to healthcare provider disclosures and balance billing as deceptive trade practices. The bill aims to enhance consumer protections and transparency in the medical debt collection process.