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What’s more insane is how there’s even a market to buy this debt for pennies on the dollar.
Private insurance was a mistake.
Seems like I should be able to buy my own medical debt for pennies on the dollar.
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.
More needs to be done for medical cost reduction in our nation.
