Several federal agencies are investigating medical credit cards, which the Consumer Financial Protection Bureau has previously warned can leave consumers stuck with debt.
In a July 7 news release from the Consumer Financial Protection Bureau, the agency said alongside HHS and the U.S Treasury Department, it is requesting more information on medical credit cards from the public.
The agency is seeking information from the public on "the prevalence of these products, patients' experiences with them, and healthcare providers' incentives to offer these high-cost products to patients," according to the release.
"This inquiry builds on the department's work to protect patients from unfair billing practices, lower costs, and increase transparency in our healthcare system," HHS Secretary Xavier Becerra said in the release. "Hearing directly from patients about their experiences will help shape policies that can prevent families from incurring medical debt."
In a report published in May, the Consumer Financial Protection Bureau said the medical credit card industry has grown significantly in size and scope over the past several years. According to the bureau, medical credit cards were once restricted to paying for the costs of elective procedures but are now often offered to patients by their healthcare providers to pay for routine care.
Patients who should have access to payment plans through their provider or insurance may be signed up for a medical credit card instead, according to the bureau, resulting in higher costs for the consumer.
Public comments on the agencies' request for information are open until Sept 5.