![]() ![]() "And oftentimes, if a debt had been reported to the credit bureaus, when we abolish it it will remove that negative mark from their score. Hopefully, in lifting this burden, we can empower people to seek more care in the future," Lempert said. "We're primarily hoping to let people know that, you know, having a chronic illness, being sick, having been in an accident, it's not a personal failure. In the meantime, Lempert hopes that, beyond the benefits of financial relief, the organization's efforts will help remove the stigma attached to having medical debt. These are still open questions that Mahoney and RIP Medical Debt are trying to answer. "Is relieving that debt still providing them with a huge relief psychologically? Are they more likely to go to the doctor because they don't feel guilty?" So, if you relieve $2,000 in debt for 40 bucks, are you having a $2,000 impact, or are you having something closer to a $40 impact?" Mahoney explained. "You can sometimes relieve debt for pennies on the dollar. "I see this as something that we can do now, but that it is not a substitute for changes either in policy or pulling other levers that could provide people with more financial security when it comes to their healthcare costs." "I think the folks at RIP share this view: they don't see charitable relief of medical debt as the scalable solution for financial distress that arises from hospitalizations and doctor's visits," he told MedPage Today. Neale Mahoney, PhD, an economics professor at Stanford University, has been working with RIP Medical Debt to evaluate the real-world impact of their debt forgiveness. "We wanted to concentrate on Hinds County, but then once we alleviated all the debt in Hinds County, which we did, we spread out into other counties throughout the state of Mississippi from north Mississippi, all the way to south Mississippi," Richardson said. Retrieved August 13, 2021.Hinds County received the most relief, with 256 families receiving $476,916.24 in debt forgiveness out of the total $1.44 million spread across the state. " 'A game changer': RIP Medical Debt gets $50M donation". "Hawks player Trae Young cancels $1M in medical debt for Atlanta families". ^ "RIP Medical Debt and TransUnion Healthcare Surpass $5 Billion of Medical Debt Relieved and Expand Partnership"."John Oliver makes 'TV history' by forgiving $15 million in medical debt". "Secret Santas: Charity buys and erases past-due medical debt". "A Tulsa couple we're thankful for tells us how they did it". ![]()
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