Why Medical Debt Is A Problem
Posted By RIP Medical Debt
Medical debt is a problem that if left alone, will only get worse, and make it more difficult for families to access healthcare.
According to The Journal of American Medicine Association, debt collectors hold $140 billion in medical debt, not including credit card balances and unpaid medical bills that haven’t hit consumers’ credit reports.
Millions of Americans are struggling to meet the ever-increasing medical expenses, as high deductible health insurance plans become more common. Medical debt keeps families anchored in financial hardship. With our help, medical debt can be permanently abolished, freeing millions of families from emotional and financial distress.
One Unexpected Illness Can Leave Families with Mountains of Medical Debt
Nearly half of the American population is affected by medical debt. Medical debt is a problem, that typically stems from unplanned or unexpected medical expenses, making it harder for patients to put their health care needs first.
Dealing with unexpected medical expenses is challenging enough, now patients are faced with even further hardship with the unexpected costs that COVID-19 has brought. Due to the skyrocketing costs of medical care, as many as 1 in 3 patients defer seeking medical care in fear of incurring more debt.
The rise in medical debt is not a personal failing of patients, but instead, is a by-product of the broken healthcare finance system.
At RIP Medical Debt, we believe families should not have to compromise their basic needs to pay for medical expenses. We can relieve debt for millions of families in financial hardship, where $1 donated can relieve $100 of medical debt.
Medical debt is a problem, be a force for systemic change with RIP Medical Debt