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Nonetheless, if the options are to either remain uninsured or pay nothing to sign up for a Bronze plan, the choice would likely be clear to most people, if they were aware of it. Few people will ever reach a $6,500 deductible, so worst-case scenario, enrollees end up paying fully out-of-pocket for all of their check my site health care, just as they would if they were uninsured (though they would at least benefit from lower negotiated rates from their insurer). Those who do have that high level of health spending are clearly sick enough that they would benefit greatly from the financial protection that comes with health insurance. Given that we are in the midst of a pandemic, most potential enrollees cannot predict whether they will be in that group that has high health spending. A typical hospital admission in the U.S. is $24,000 and an admission for COVID-19 treatment could be substantially more expensive. Incurring $6,500 of medical expenses before a plan’s full benefits kick in is a much better alternative to risking tens of thousands of dollars of medical debt, especially if there is no cost to sign up. Like all ACA-compliant health plans, Bronze plans come with other valuable benefits. All plans must cover the full cost of a wide range of preventive care services for their enrollees, without applying a deductible or copayment.

https://www.kff.org/policy-watch/millions-of-uninsured-americans-are-eligible-for-free-aca-health-insurance/

A swift rise in personal debt, though, is forcing regulators to act. Between 2015 and 2019 the stock of household debt in China rose by about $4.6trn, close to the $5.1trn accrued by Americans over a similar period before the global financial crisis of 2007-09, according to data from Rhodium Group, a consulting firm. The outstanding balance of delinquent consumer receivables could reach nearly 3.3trn yuan ($500bn) next year, up from just 1trn yuan in 2015, reckons iResearch, another consultancy. In June the southern city of Shenzhen drafted the country’s first personal bankruptcy law. Courts routinely heard disputes between lenders and borrowers, but allowed only creditors to file suits. The new law, to be rolled out next year, will offer debtors more protection against creditors. A few other cities are conducting similar experiments, though “these reforms are still very limited,” says Li Jiao of Buren, a law firm. The central bank, meanwhile, issued draft rules late last year, threatening to punish banks for working with dodgy debt collectors, though it softened the language before the guidelines took effect on November 1st this year. Government pressure, say industry executives, has prompted consolidation. Some companies, such as Asset Recovery, have banned in-person visits and operate only call centres—a practice considered less intrusive.

https://www.economist.com/finance-and-economics/2020/11/28/bad-debts-in-china
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