Billionaires pay $264 million in medical debt for 125,000+ Miami-Dade residents
The Jane and Daniel Och Family Foundation donated to RIP Medical Debt, a nonprofit that buys unpaid hospital bills in bulk at a reduced rate and pays them off.
Tens of thousands of Miami-Dade County residents have found a surprise in their mailboxes: a letter stating some or nearly all of their medical debt has been paid off.
Billionaires Daniel and Jane Och living on Miami Beach have recently helped more than 125,611 Miami-Dade County residents by paying $264 million worth of medical bills.
The Miami Herald reports that the Jane and Daniel Och Family Foundation donated to RIP Medical Debt.
RIP Medical Debt is a nonprofit that buys unpaid hospital bills in bulk at a reduced rate and then pays them off.
Since 2014, the RIP Medical Debt has paid off $9 billion worth of debt for more than 6 million families across the country.
Medical debt relief cannot be requested and is source-based, meaning relief is distributed to qualifying individuals whose medical debt is available to the nonprofit.
Those who qualify for debt relief are four times or below the federal poverty level or have medical debt that is 5% or more of their gross annual income.