Unfiltered Stories: Health-consumer friendly payment solutions

August 18, 2021

Approximately 90% of employees are enrolled in high deductible plans or about 44 million pay all their healthcare costs out-of-pocket which was an average of $1,240 in 2019. In the US when most cannot afford $400 when posed with an emergency medical bill, how do they afford to pay the out-of-pocket expense? As part of this conversation, you will hear diverse options that consumers have to pay for their medical expenses.

The podcast has 3 parts

1. Setting the stage – which gives us an understanding of the consumer-centric payment industry

2. Let’s talk unfiltered – Learn about FinTech with a reputation of predatory lending may be helping in healthcare!

The speakers also discussed:

– Despite US consumers carrying ~$15T in personal debt across mortgage, auto loans, credit card, etc. Do 0% interest & no-fee loans to consumers to pay their healthcare bills, perpetuate the problem of adding on more debt?

– Historically healthcare savings such as HSA, FSA’s have been distributed through the employers but have a very low take rate of 2-5%. So how do we distribute consumer-centric payment solutions and what challenges do they face?

– Given health outcomes in the US have gotten worse mostly due to consumer lifestyle choices, is there an opportunity to connect behaviors to access to funds?

3. Looking into the future – where we discussed how healthcare could help reverse climate change by encouraging better consumer lifestyles.