Payer aims to improve patients' financial health

Medical debt is by far the leading cause of bankruptcy in the United States. The Consumer Financial Protection Bureau reported last year that 43 million Americans have medical debts they have yet to pay, and more than half of the debts that get referred to collection agencies are medical in nature. To help resolve this crisis, ConnectedHealth, an online private insurance company is rolling out a personalized score to help consumers understand and assess their financial wellness. "The connection between health and financial stress has long been studied, and employers are increasingly recognizing that concerns about health and financial security make their way into the workplace in the form of decreased productivity, absenteeism, and 'presenteeism,'" according to a white paper published by ConnectedHealth. Read the article from FierceHealthFinance