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Biden Administration Takes Aim at Reporting of Medical Debt, Insurance Premiums Poised to Rise for Millions of U.S. Homeowners & More

September 22, 2023 (1 min read)

Biden Administration Seeks to Exclude Medical Debt from Credit Scores

The Biden administration announced plans to develop new rules that would prevent unpaid medical bills from counting towards consumers’ credit scores. The new rules, which administration officials said would be developed next year, are likely to face strong opposition from the healthcare industry. (KFF HEALTH NEWS)

Quarter of U.S. Homes Underpriced for Climate-Related Insurance Risk

A report released last week by the First Street Foundation indicates that about 39 million homes in America—about a quarter of the total number nationwide—aren’t adequately priced for the climate risk associated with insuring them. The report said premiums are likely to rise most in states like California and Florida that are prone to devastating wildfires and storms, but climate change-related events like the fire that destroyed the town of Lahaina, Maui could drive up insurance costs in other states as well. (ASSOCIATED PRESS)

FL’s Next House Speaker Wants More Property Insurance Reform

Florida Rep. Daniel Perez (R), formerly selected last week as the new speaker of the House, said he intended to focus on more property insurance reform next year, telling reporters the Legislature’s efforts so far were only “chipping away” at the problem. (INSURANCE JOURNAL, ORLANDO SENTINEL)

Grassroots Effort Aimed at Restoring Gold, Silver as Currency

Fueled by inflation, bank failures and government distrust, bills aimed at recognizing gold and silver as legal tender have been introduced in half of the states and enacted in six of them this year. “2023 was our most productive, our most successful year, as far as sound money legislation,” said J.P. Cortez, executive director of the Sound Money Defense League, a group based in North Carolina that supports the legislation. (PLURIBUS NEWS)

—Compiled by SNCJ Managing Editor KOREY CLARK

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