One way that individuals and corporations are giving back this Thanksgiving is to forgive the medical debts of Americans who aren't able to pay their hospital bills.
— anxiety about its burden can result in emotional and even physical harm to the very patients that hospitals are trying to heal.If a patient owes $10,000 but can't pay that bill, often the hospital will be willing to sell that debt for just $100 — one cent on the dollar.It only buys debt owed by people who earn less than four times poverty-level income, or who owe more than 5% of their annual income.as mission aligned," said Allison Sesso, RIP's president.
A corporate gift of, say, $250,000 would be matched by Scott's funds and then used to buy up and forgive $50 million of medical debt. Debtors would receive a letter saying their debt had been forgiven thanks to a donation from the company that made the $250,000 gift.
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