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New York City plans to wipe out $2 billion in medical debt for 500,000 residents (abcnews.go.com)

submitted 9 months ago by [email protected] to c/[email protected]

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[–] [email protected] 5 points 9 months ago

Make no mistake, organizations such as RIP Medical Debt are making a difference. I dug into their 990s and annual reports and determined that there is a substantial cost to delivering this boon to those in need. In 2022, 1.77 billion in debt was reported abolished. The purchased cost of that debt was 6 million. Additional operating expenses for the organization were 1.7 million.

Source. https://ripmedicaldebt.org/wp-content/uploads/2023/07/2022_FINANCIAL_STATEMENT_AND_AUDITOR_REPORT.pdf

More needs to be done for medical cost reduction in our nation.