Team Studies Impact of Medical Debt Forgiveness

A team of researchers met in New York City to finalize plans for studying the economic impact of medical debt forgiveness. The Mini-Summit was hosted by RIP Medical Debt, a not-for-profit charity that buys portfolios of medical debt and then forgives the debt.

InsideARM has more on the meeting:

Coming together today will be researchers from the economics departments at UCLA, the University of Chicago, Massachussetts Institute of Technology, and University of California at Berkeley. Also taking part are RIP Medical Debt, TransUnion, 1/0, and other philantropists and interested parties.

The group says that about 64 million Americans struggle with unpaid and unpayable medical debt annually, even with health insurance. About 15 million annually become insolvent because of medical debt, and about 1 million go bankrupt. So they are looking to quantify the impact of medical debt forgiveness.

The bulk of the agenda will include “Shirtsleeves work by the University team and others, including breakout sessions for special interest groups in the banking, collections, insurance, philanthropic, medical and tech industries.”