Two healthcare groups donating money to erase medical debt for 70,000 people.
Nearly 70,000 people, including thousands of Texans, are expected to have $110 million in medical debt wiped out. This is thanks to two nonprofit healthcare groups, who are donating money to alleviate their debts.The Journal of the American Medical Association reports one in five households owes an average of $4,600 in medical debt, affecting low-income households and families of color the most.FOX 26 Reporter Sherman Desselle spoke with the woman about what happened and what's next.
"We’ve identified thousands of people in the states I mentioned that have medical debt they won’t be able to pay. And this debt is sold on the debt markets for pennies on the dollar. So for people who owed $10,000, the debt is now worth $10, $30, $40, $50 dollars," explained Dr. Sachin Jain, CEO of SCAN Group.
"They were just explaining how they do this for people and I just think it’s amazing. And I was just one of the lucky ones," said Headrich. If you have medical debt and don't receive a letter, experts say you can take steps to manage and reduce the debt.
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