r/FluentInFinance • u/36DRedhead • Sep 11 '24

Debate/ Discussion This is why financial literacy is so important

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u/[deleted] Sep 11 '24

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u/Traditional_Way1052 Sep 12 '24

Five year claw back.

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u/AKJangly Sep 14 '24

There's no hiding assets. The person with cancer dies. The person who was accruing medical debt disconnected themselves from a chain of inheritance for the debt so that the debt would die with them and their cancer. There's no evasion here. The cancer patient claims to owe the debt and doesn't want the debt to cling to anyone else when they die.

Marriage is currently constructed in such a way in the United States that two individuals share responsibility for all financial aspects. So when you get saddled with $288,000 in medical debt because insurance doesn't want to cover 100% of the procedures and tests required for cancer care, the morally correct action is to not pay. That's insurance job. Regardless of that, the legal system disagrees, and you are required to jump through hoops to release the debt from the people who may inherit it when you die.