Mayor Eric Adams announced that the city would invest $18 million to buy up and then erase medical debt for New Yorkers who meet certain qualifications.
New York City will buy up millions of dollars of medical debt and erase it in a program that officials hope will ultimately help as many as 500,000 New Yorkers.
Mayor Eric Adams announced Monday that the city would invest $18 million in a partnership with a nonprofit organization that buys up unpaid medical debt from hospitals at steep discounts and then erases it. Hospital systems and commercial debt buyers are often willing to sell medical debt at steep discounts, and the $18 million could wipe out over $2 billion in unpaid medical bills, city officials said.
Up to half a million New York…
Read the full article at: https://www.nytimes.com/2024/01/22/nyregion/medical-debt-forgiveness.html