RIP Medical Debt announced that the Jane and Daniel Och Family Foundation has committed a gift that will erase roughly $264 million of medical debt for 125,611 patients in Miami-Dade County. Over the next few weeks, individuals in Miami will begin receiving letters directly from RIP Medical Debt notifying them that some or all of their medical debt has been relieved through this donation from the Jane and Daniel Och Family Foundation. Recipients will have no tax liability for their cancelled debt.
RIP Medical Debt is a 501(c)(3) national nonprofit that uses donor funds to purchase and eliminate financially burdensome medical debt in the U.S. Since its founding in 2014, RIP has eliminated over $9 billion of medical debt across all 50 states for more than 6 million people. 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.
According to the Urban Institute, 14% of Floridians have medical debt.
“The financial burden of medical bills is an unimaginable strain placed on so many patients and families in Miami. We are thankful to be part of this impactful partnership with RIP that will erase $264 million in medical debt and positively change the lives of thousands of Miami-Dade community members,” said Jane and Daniel Och.
“Medical debt continues to be an acute problem that negatively impacts families already experiencing hardship. We are grateful to the Jane and Daniel Och Family Foundation for its generous gift, which will offer necessary relief to medical debt holders in the Miami-Dade community and allow us to continue our mission of relieving the financial burden of medical bills on patients across the country,” said Allison Sesso, President and CEO of RIP Medical Debt.
RIP Medical Debt (RIP) is a national 501(c)(3) nonprofit that was founded in 2014 by two former debt collectors. To date RIP has acquired—and abolished—over $9 billion of burdensome medical debt, helping over 6 million families and addressing a major social determinant of health. RIP purchases debts for a fraction of their face value in bundled portfolios and partners with individuals, faith-based organizations, government, foundations, and corporations to empower donors by converting every dollar contributed into $100 of medical debt relief on average.
RIP also partners with hospitals, health systems, and physician groups to acquire medical debt for abolishment. RIP rose to national prominence on an episode of HBO’s “Last Week Tonight with John Oliver,” in which RIP facilitated abolishing $15M in medical debt.
The Jane and Daniel Och Family Foundation is dedicated to promoting strong and vibrant communities by expanding access to education, increasing economic mobility, improving public health and health care delivery and fostering cultural identity and heritage.
The Foundation is active in Miami, New York and Israel, in addition to being a significant supporter of programs involving the broader United States Jewish community.