CBS MoneyWatch on Friday described how Coy Smith, 32, and his wife, Caty, public-school teachers in Cypress, Texas, with employer health insurance, said they were more than $30,000 in medical and credit-card debt by 2023 after a series of health bills¹.

Smith told CBS collectors called as many as 16 times a day¹. He said their youngest son's one-week hospital stay shortly after birth left the couple owing about $10,000 after insurance¹.

He said stress then worsened his wife's autoimmune and inflammatory conditions, missed work cut her pay, and the family put groceries, utilities and daycare on cards charging interest of up to 30%¹. Combined income was about $100,000 a year plus benefits, CBS reported¹.

CBS cited health policy firm KFF as saying roughly 40% of Americans have debt for care not covered by insurance, complex treatment or hospital stays, and that high health costs rank among voters' top financial worries in a recent KFF poll¹. The network did not present new survey data of its own¹.

Smith said a personal loan to consolidate the balances would have meant 30 years and about $150,000 in interest by their calculation¹. They instead used Money Management International, a nationally accredited credit-counseling firm, to negotiate lower rates and a fixed payment schedule¹.

He said the plan cost $400 a month less than continuing minimum payments on their own, and that the family aims to finish paying by the end of 2027¹. "We wanted to have it paid off so we could enter the next phase of life without credit card debt hanging over our heads," Smith said¹.

The account is one couple's interview with CBS; the network did not independently audit the bills, interest rates or counseling contract¹.