Medical Credit Cards?

Mar 2, 2007

  1. salpro22
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    salpro22 Guru

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    Folks,
    I came across these articles and thought that they might benefit the community. The first article explicates a recent movie regarding credit card debt and touches upon medical credit cards, while the second article discussed a new program tested in NC and TX. Does anybody have any experienced in talking with clients about medical credit cards? I like the idea, but can see how it could get out of hand, especially considering the flexibilities of HSA's.

    http://finance.yahoo.com/expert/article/moneyhappy/25516

    http://www.medicalnewstoday.com/medicalnews.php?newsid=61353
     
  2. somarco
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    somarco That Medicare Guy

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    The concept is not new. Several years ago I was solicited to sell the cards to clients. In exchange the vendor would pay me a percentage of each charge item. He painted a picture of thousands each month in revenue after only a few months of marketing.

    I did my own math. Figured it was not really worth my effort, especially with no way for me to validate the charge figures, relying solely on "trust" that he would not only pay me for my effort but do so fairly.

    Beyond that, I considered it a bad idea for the consumer since, as you have stated, so many can't manage their regular debt.
     
    somarco, Mar 3, 2007
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