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(NPR) Hero Meet RIP, the nonprofit organization whose mission is to wipe out the medical debt of Americans. And they've already done it for 3.6 million   (npr.org) divider line
    More: Hero, Debt, Credit rating, Money, Credit, Loan, Health care, Finance, Health economics  
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629 clicks; posted to Business » and Main » on 15 Aug 2022 at 9:35 AM (6 weeks ago)   |   Favorite    |   share:  Share on Twitter share via Email Share on Facebook



37 Comments     (+0 »)
View Voting Results: Smartest and Funniest
 
2022-08-15 9:12:41 AM  
Now THAT is a good deed on a wide scale..
 
2022-08-15 9:43:19 AM  
This is great, but the fact that it's needed is absolutely rediculas.
 
2022-08-15 9:44:23 AM  
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/This RIP also wipes out medical debt.
 
2022-08-15 9:47:37 AM  
Just for example:

From my incident this past February, the final statement on the medevac flight showed up...

$54,000.00+

There is a mileage fee on that!

And also, new bike finally

Fark user imageView Full Size


Snappy, ain't it?
 
2022-08-15 9:57:44 AM  
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2022-08-15 10:00:38 AM  
An anti-collection agency.

Good.
 
2022-08-15 10:01:14 AM  
No doubt this is a good thing and kudos to this group helping people.  But the real need is for some comprehensive reform to our medical industry.  If we don't act fast, private equity is aggressively moving into medicine and if you think things are bad now, just wait.
 
2022-08-15 10:31:18 AM  
Unfortunately, GoFundMe seems to be the default late-life or emergency medical insurance policy I've seen the most lately.
 
2022-08-15 10:39:55 AM  
This is destroying one of the most profitable industries in America. This is a terrible shame. Think of the profits lost, think of the opportunities for keeping people as wage slaves.

There must be a law enacted to ensure if a debt is purchased, it must be collected, in full, with interest.

What next, will we allow people to stop student debt colleciton? mortgage debt collection?
 
2022-08-15 10:42:59 AM  
I paid off my $300,000 medical debt just before the pandemic but I am happy others can get help.

/I live in abject poverty.
 
2022-08-15 10:46:03 AM  

Somaticasual: Now THAT is a good deed on a wide scale..


This is rewarding bad behaivor by the medical industry.

New regulations allow RIP to buy loans directly from hospitals

Giving hospitals money for outrageous bills is only going to encourage them to create outrageous bill.
 
2022-08-15 10:46:12 AM  
The fact that they need to exist says everything you need to know about how farked up our medical system is.
 
2022-08-15 10:50:25 AM  
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'That's unAmerican and should NOT be allowed!'

'You're Canuckian, your immenseness.'

'Ah f**k. It's, um, socialist- oh, wait - a slap in the face of capitalism & its shareholders!'
 
2022-08-15 10:57:55 AM  

Rapmaster2000: [Fark user image 640x735]


Yep.
The Dystopian Reality Of All Those "Inspirational" Stories - SOME MORE NEWS
Youtube fYOA8gXpios
 
2022-08-15 11:12:11 AM  

iamskibibitz: [Fark user image image 220x281]

/This RIP also wipes out medical debt.


No one here gets out alive.
---jim morrison
 
2022-08-15 11:13:56 AM  

psilocyberguy: I paid off my $300,000 medical debt just before the pandemic but I am happy others can get help.

/I live in abject poverty.


Well

The important thing is that healthdontcare industry sit at home stock owners can live their lifestyles.
 
2022-08-15 11:14:23 AM  

TedCruz'sCrazyDad: Somaticasual: Now THAT is a good deed on a wide scale..

This is rewarding bad behaivor by the medical industry.

New regulations allow RIP to buy loans directly from hospitals

Giving hospitals money for outrageous bills is only going to encourage them to create outrageous bill.


Murca
 
2022-08-15 11:15:54 AM  

Demetrius: The fact that they need to exist says everything you need to know about how farked up our medical system is.


Thats why Linux exists.

Microsoft and others werent satisfying the market so it created Linux and open source software
 
2022-08-15 11:17:55 AM  

TedCruz'sCrazyDad: Somaticasual: Now THAT is a good deed on a wide scale..

This is rewarding bad behaivor by the medical industry.

New regulations allow RIP to buy loans directly from hospitals

Giving hospitals money for outrageous bills is only going to encourage them to create outrageous bill.


To be fair, a lot  of these are negotiated down to pennies on the dollar since they would likely be long-term delinquent accounts regardless. Still, they're trying to help.  Are they going to solve the inherent  problem? No. Are they making lives  better for those folks whose medical debt they're wiping out?  Yes.
 
2022-08-15 11:18:35 AM  
i.kym-cdn.comView Full Size
 
2022-08-15 11:23:27 AM  

Priapetic: No doubt this is a good thing and kudos to this group helping people.  But the real need is for some comprehensive reform to our medical industry.  If we don't act fast, private equity is aggressively moving into medicine and if you think things are bad now, just wait.


Now?  We already have brokerages for HSAs, where you can gamble your retirement health money on stonks, short trading, crypto, etc.  The idea behind HSA accounts is that the GQP and center right Dems can then repeal medicare, or make it means tested based on your last five years of taxes (hint, only the poor who earned taxable income will qualify).
Ditto for social security which will be made "voluntary" for employers to match and replaced with a crummy, insecure private account that only the top 5% can afford to use anyway.
The rationale?  These payroll taxes are paid by employers, and that makes the stonks sad.  The wealthy would also like to tell the story of throwing older Americans (the bottom 95%), into the gutter between the back and front 9.

Hey, it's almost as if AOC and Fetterman have some sort of a point and rational solution to these problems which are way cheaper than the current system and far superior in services and outcomes.
 
2022-08-15 11:41:09 AM  
It is great they did this but it sucks we have groups that need to do this and we are not a civilized country like a lot of other western nations. I like how John Oliver did it as well a couple years ago.
 
2022-08-15 11:46:18 AM  
Isn't forgiven debt considered taxable income?  If so, how do they avoid it?  Perhaps by simply not collecting the debt.
 
2022-08-15 11:46:34 AM  
They are wrong for this, their actions and efforts only help ensure the status quo of medical costs put you in deep debt.

Every dime they spend every minuet of effort they exert, dose not influecne anything to change about the for private profits medical system we have, it only helps support it to carry on as is.

They are just literally giving the system the money it demands, they are providing the profits that keep it alive and uphold the status quo it has.


If you want to end the actual problem we have, you need to change the cultural POV on medical care, not buy into it and make sure to hand over the profits being demanded for it.
 
2022-08-15 11:55:30 AM  

PvtStash: They are wrong for this, their actions and efforts only help ensure the status quo of medical costs put you in deep debt.

Every dime they spend every minuet of effort they exert, dose not influecne anything to change about the for private profits medical system we have, it only helps support it to carry on as is.

They are just literally giving the system the money it demands, they are providing the profits that keep it alive and uphold the status quo it has.


If you want to end the actual problem we have, you need to change the cultural POV on medical care, not buy into it and make sure to hand over the profits being demanded for it.


Yeah, fark those poor folks we could help sneak over a 650 credit rating so that they could qualify to rent a house in a safe neighborhood or take a job that checked credit rating. Treating symptoms is still treating symptoms
 
2022-08-15 12:14:10 PM  

Linux_Yes: iamskibibitz: [Fark user image image 220x281]

/This RIP also wipes out medical debt.

No one here gets out alive.
---jim morrison


Stolen from Sam Levenson.
 
2022-08-15 12:31:39 PM  
I'm fully planning to declare bankruptcy when I finally have a major health crisis.

I look at my finances, what my insurance does, and what something like a heart attack would cost, and yeah -- that's a bankruptcy filing.

I'm actually hoping that if I do have a heart attack or stroke, it just kills me outright, but for some reason, people seem to survive those things and hang on for a few years after.
 
2022-08-15 12:37:23 PM  
One thing that's often overlooked in this type of story: all the money you use to pay off medical debt is money that you could have used for something else. I've spent most of my adult life paying off medical bills for one thing or another. That money could have gone into investments, starting a business, charitable work, research, whatever. Multiply that by several million, and you've got a lot of economic activity. Instead that money went into a few mattresses (offshore accounts) owned by a few insurance and hospital executives. It makes me sick just to think about it.
 
2022-08-15 12:40:00 PM  
it always seemed wrong to me that companies can sell your debt for pennies on the dollar and yet you somehow how these other companies the full amount.  There should be a clause that let's you pay the same amount the predators pay to buy your debt.
 
2022-08-15 1:03:25 PM  
Lotsa places got free doctors, of course

Like freakin' Prague!

i.imgur.comView Full Size
 
2022-08-15 2:02:51 PM  

Another Government Employee: Linux_Yes: iamskibibitz: [Fark user image image 220x281]

/This RIP also wipes out medical debt.

No one here gets out alive.
---jim morrison

Stolen from Sam Levenson.


Death makes angels of us all and gives us wings where we had shoulders smooth as ravens claws.
----jim morrison
 
2022-08-15 2:03:54 PM  

Another Government Employee: Linux_Yes: iamskibibitz: [Fark user image image 220x281]

/This RIP also wipes out medical debt.

No one here gets out alive.
---jim morrison

Stolen from Sam Levenson.


And further stolen from some dude living in a cave 20,000 years ago
 
2022-08-15 4:40:32 PM  

Russell_Secord: One thing that's often overlooked in this type of story: all the money you use to pay off medical debt is money that you could have used for something else. I've spent most of my adult life paying off medical bills for one thing or another. That money could have gone into investments, starting a business, charitable work, research, whatever. Multiply that by several million, and you've got a lot of economic activity. Instead that money went into a few mattresses (offshore accounts) owned by a few insurance and hospital executives. It makes me sick just to think about it.


"It makes me sick just to think about it."

Pretty cruel irony you got going there.
 
2022-08-15 5:57:03 PM  
There is around 195 billion dollars of medical debt in the US, 6.7 billion wiped out is definitely a good start.

And the fact that it's being done for pennies on the dollar is even better.
 
2022-08-15 10:27:16 PM  

TedCruz'sCrazyDad: Somaticasual: Now THAT is a good deed on a wide scale..

This is rewarding bad behaivor by the medical industry.

New regulations allow RIP to buy loans directly from hospitals

Giving hospitals money for outrageous bills is only going to encourage them to create outrageous bill.


I think debt is purchased at a fraction of its original charge. As long as they're not incentivizing it by paying full price, this is good.

To match the operation from the other side, perhaps a fund should be set aside for lawyers to challenge costs for people getting ripped of where it's possible.

Not a perfect plan, but a good start.
 
2022-08-16 3:40:57 AM  

SoundOfOneHandWanking: it always seemed wrong to me that companies can sell your debt for pennies on the dollar and yet you somehow how these other companies the full amount.  There should be a clause that let's you pay the same amount the predators pay to buy your debt.


Fun fact: unless you do something stupid like actually pay them, only the date of the initial collections goes on your credit score. But if you pay, the debt gets renewed and the clock starts all over.
 
2022-08-16 3:54:14 AM  

DuneClimber: I'm fully planning to declare bankruptcy when I finally have a major health crisis.

I look at my finances, what my insurance does, and what something like a heart attack would cost, and yeah -- that's a bankruptcy filing.

I'm actually hoping that if I do have a heart attack or stroke, it just kills me outright, but for some reason, people seem to survive those things and hang on for a few years after.


Doesn't have to be a bankruptcy. Every non-profit hospital, either in-house or through their management company, has a financial aid department that'll adjust your bill based on a multiple of the current U.S. poverty level.

This was with zero insurance of any sort:
Fark user imageView Full Size
And since financial aid was pending, they still kept the radiation treatments going as well as CT's/MRI's/ENT & Oncology followups without requiring upfront payment.

You gotta know how to ask about stuff BEFORE the first bill shows up, and a maximum 120 days, because once it's in collections with an outside contractor you're farked.
 
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