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A growing wave of local governments are erasing billions in medical debts

New York City recently committed to paying off $2 billion of residents' medical debt, following the lead of Cook County, Ill., which partnered with RIP Medical Debt to forgive medical debt using federal pandemic rescue funds. This initiative aims to alleviate the financial burden on low-income residents and has gained traction across other local governments. The program targets unpaid hospital bills for individuals making up to four times the federal poverty level. Click here for article.

  • New York City pledged to pay off $2 billion of residents' medical debt, inspired by Cook County's partnership with RIP Medical Debt.

  • RIP's model buys unpaid hospital bills at a fraction of their original value and forgives them, benefiting individuals making up to four times the federal poverty level.

  • Several other local governments, including Akron, Cleveland, and Toledo, Ohio, have joined the initiative, acknowledging the disproportionate impact of medical debt on low-income communities.

  • While debt forgiveness is crucial, more comprehensive policies are needed to address rising healthcare costs and ensure affordable access to care. Initiatives like automating enrollment in financial assistance programs can help reduce medical debt and encourage preventive care.

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