NYC to Partner With Nonprofit to Wipe Out Medical Debt

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Here in New York City, Mayor Eric Adams is launching a new plan that could wipe out hundreds of millions of dollars of medical debt. That's according to the New York Post, the city is partnering with nonprofit organization R IP Medical Debt which purchases debt at a fraction of the original cost and pays it off using donations. Typically to qualify, participants need to make less than 400% of the federal poverty level or have debt that exceeds 5% of their annual income. According to the organization RP. Medical debt has resolved nearly $10 billion in unpaid bills.