New partnership with RIP Medical Debt forgives those earning less than two times federal poverty limit
Mountain View, Calif. – April 1, 2019 – GetInsured, a leading provider of health insurance marketplace platforms, has abolished $1,856,771.28 of residents’ medical debt in its home state of California, to help alleviate some of the severe financial hardship caused by unpaid and un-payable medical bills. The company partnered with RIP Medical Debt, a nonprofit 501(c)(3) charity that locates, buys and forgives medical debt on behalf of donors, to identify Californians’ debt across the state – including northern, central and southern regions – for this charitable endeavor.
The Californians who were relieved of medical debt earn less than two times the federal poverty limit, and have spent more than five percent of their gross income on medical bills. In addition, they are insolvent due to medical debt, meaning they owe more due to medical expenses than assets owned.
“As the cost of care continues to increase, so does the weight of the financial burden placed on the shoulders of people across the country,” said Chini Krishnan, co-founder and CEO of GetInsured. “We have seen, time and again, how critical it is to find the health insurance plan that is most aligned with individual health needs, in order to avoid a potentially devastating situation. We are grateful to be able to make a meaningful impact in the lives of so many people in our native state of California.”
Letters notifying these residents that their health bills have been forgiven have all been mailed. With the exception of dental and elective surgeries, most types of medical debt were eliminated through this effort, including debt created by cancer treatments, diabetes and heart disease.
According to RIP Medical Debt, more than 13 percent of the population in the state of California have medical debt – collectively totaling more than $7 billion. The burden causes financial instability and hinders vulnerable communities, including the sick, poor, elderly, and veterans. It also drives many middle class families into poverty.
“Our mission is, and has always been, to make the process of attaining health insurance as easy as possible,” continued Krishnan. “That is why we continue to collaborate and work closely with policymakers and healthcare executives – to help ensure that affordable, quality healthcare is available to everyone.”
In an effort to continue abolishing medical debt, GetInsured encourages its consumers and partners to help Americans nationwide and donate directly by visiting https://company.getinsured.com/medical-debt-forgiveness/.