Mason-Backed Investment Erases $1 Billion in Medical Debt for Illinoisans

GURNEE, Ill. – Reforms backed by state Rep. Joyce Mason, D-Gurnee, eliminating up to $1 billion in families’ medical bills and preventing past debt from hurting individuals’ financial future are now law.

“Persistent medical debt is a financial burden for working families in our community that slows economic growth and stifles progress,” Mason said. “No Illinoisan should be forced into years of
hardship simply because they got sick. This measure works side-by-side with major steps I am taking to make healthcare more affordable. Every person should get the medical help they need,
and no one should be forced to make enormous sacrifices to meet those needs.”

Mason helped pass House Bill 5290 and Senate Bill 2933, the first of which creates a pathway to pay off $1 billion in families’ medical debt at a fraction of the costs, and the second of which makes medical debt ineligible on credit reports. Outstanding medical debt can be purchase for a small percentage of the sum, clearing $1 billion in debt cost just $10 million.

In another example of Illinois playing a leading role nationwide, similar measures are currently being evaluated at the federal level.

“In addition to advancing the cause of affordable healthcare, this is a smart use of taxpayer funds,” Mason said. “Debt like this can be purchased for pennies on the dollar, and I’ll always stand by efficient spending that helps this community.”