Rhode Island Mayor Diossa expressed concern over the impact of snowballing medical debt on people’s healthcare access and financial well-being. He announced a $1 million medical debt relief program aimed at purchasing up to $100 million in medical debt, with a focus on older accounts priced at fair market value.
To be eligible, residents must have incurred debt for necessary medical treatment and meet income requirements. Debt relief will be automatic, and notifications will be sent out once debt is canceled. The program is part of a comprehensive health care bill package passed by the state legislature.
Advocates highlighted the burden of medical debt on individuals and families, particularly for people of color. The initiative received praise for its potential to provide financial relief to those facing medical crises. For more information on the program, residents can visit Treasury.RI.Gov/Medical-Debt-Relief-Program.
The program aims to address the issue of medical debt as a leading cause of personal bankruptcy in the U.S. and ensure that healthcare remains affordable for all Rhode Islanders. By offering relief to those burdened by medical debt, the state seeks to promote financial security and alleviate the stress associated with excessive healthcare costs.
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