Paying off people's medical debt has little impact on their lives, according to a study
Over the past decade, RIP Medical Debt has grown from a small nonprofit group that received less than $3,000 in donations to a multimillion-dollar force in healthcare philanthropy.He did so with a unique and simple strategy to address the enormous sums Americans owe hospitals: purchasing old bills that would otherwise be sold to collection agencies and writing off the debt.Since 2014, RIP Medical Debt estimates it has eliminated more than $11 billion in debt with the help of major donations from philanthropists and even city governments. In January, New York Mayor Eric Adams announced plans to donate $18 million to the organization.But a study released Monday by a group of economists calls into question the assumptions of this high-profile charity. After tracking 213,000 people in debt a...