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.