00:00A hundred million people in the U.S. are already saddled with medical debt and a new report shows millions more could join them.
00:08Washington, D.C.-based think tank Third Way said Republican proposals to slash health care by $1.1 trillion in their Big Beautiful Bill Act could push 5.4 million people into medical debt.
00:20That could increase the total medical debt that Americans owe by $50 billion, a 15% jump.
00:27Why? Well, an estimated 16 million people could lose health coverage due to provisions in the bill if it's enacted in its current form.
00:35Third Way says that includes 7.8 million people on Medicaid and 8.2 million people covered through the Affordable Care Act, programs that help low-income Americans pay for care.
00:46Less coverage means more medical bills and ultimately more debt.
00:49Third Way says families losing coverage could see their medical debt increase by as much as $22,800.
00:57That'll do it for your daily briefing from the New York Stock Exchange.
