WCTRS advocates fair and just practices in support of the loan trading market. Our committee members strive to preserve a healthy and profitable global market for borrowers and investors.
For most Americans, the Affordable Care Act has helped them gain access to healthcare, especially insurance seekers with pre-existing conditions. Americans can now qualify for subsidized healthcare plans based on their income. The downside is that the government now requires everyone to apply for healthcare coverage or pay a fine. Individuals who don't require monthly medications and checkups that would rather be self insured may be forced into a plan with affordable monthly payments but with a deductible of $10,000 or more. That means, you must rack up 10 grand in medical costs before insurance coverage begins.
When an uninsured or under-insured person falls into this expensive category, they usually have two options - either avoid seeking medical attention (unless it's a medical emergency) or pay 100% out-of-pocket. Many are opting to pay for their out-of-pocket healthcare expenses with a medical loan. This new niche of borrowers has prompted some personal loan providers to expand their services to include medical financing. A potential financial disaster that plagues so many 'insured' Americans can now be averted with the variety of low cost medical loan options provided online.