This report provides an issue overview of the national medical debt crisis, describing its prevalence and effects on consumers, how medical debt functions as a social determinant of health and driver of health inequities, opportunities to prevent it, and long-term strategies for impact.

As the leading cause of bankruptcy in the U.S., medical debt impacts the financial lives of millions of vulnerable Americans each year. There are a number of immediate actions for healthcare stakeholders – including hospitals and health systems, insurers, and employers – to take to prevent medical debt and its devastating impacts. By working to prevent medical debt, organizations can support consumer health and well-being while also strengthening loyalty, trust, and community reputation.

A recent study of full-time workers reveals a high need for debt-related benefits, as well as gaps between those who need these benefits most and those who currently have access to them.

New Pulse transactional data suggests that child tax credit payments have had a positive financial impact on recipients, particularly those who experienced hardship in the past.

Discover how Americans’ financial health outcomes have changed as COVID-19 continued to create unprecedented disruptions.

A proprietary analysis to quantify the total cost of credit products with various structures, and facilitate comparisons among products for a typical borrower.

Read the world’s first global financial wellbeing research from nudge global and uncover how employers can break cycles of financial exclusion.

Reforming overdraft can help institutions improve customer finhealth, acquire new customers, and boost loyalty.

Paid leave for medical and caregiving purposes can help workers cope in challenging times.

Many financial services organizations in the United States are taking action to improve their customers’ and employees’ financial health. Through the Financial Health Maturity Assessment Program, this report assesses the survey responses of 43 Financial Health Network Members to identify key opportunities for financial institutions to advance their financial health strategies. Learn about the actions these Members are taking within each pillar and phase of the FinHealth MAP, and gain insights into the areas they still need to prioritize.

In partnership with BECU, the largest credit union in Washington state, this study examines the impact of a new mobile app savings feature, Quick Save, which allows members to spontaneously transfer small amounts to their savings accounts with the swipe of a button.

While technology-driven financial products, services, and institutions have the potential to benefit consumers, they can also pose new risks due to the increased availability of financial data. To better understand the consumer perspective on the use of financial data, the Financial Health Network fielded a nationally representative survey. The findings in this report describe consumer understanding of practices in the financial data ecosystem, and consumer preferences on how they would like personal data to be treated. These findings can serve as a guide to both industry stakeholders and policymakers as they seek to build trust and ensure that both practice and policy serve consumers.