Ready to be financially free?
Join here. Terms apply.
Connecticut Governor Ned Lamont recently announced a groundbreaking plan to wipe out approximately $650 million in medical debt for an estimated 250,000 residents. This unprecedented move, fueled by a commitment to equity and financial relief, marks a significant departure from the status quo.
Residents whose medical debt comprises 5% or more of their annual income, or whose household income falls within 400% of the federal poverty line, about $125,000 in 2024, are eligible for relief. Best of all, those meeting the criteria don’t need to apply. They’ll simply receive notification of their debt forgiveness via mail.
Connecticut and New York are working with RIP Medical Debt, a nonprofit that buys medical debt in bulk from hospitals and debt collectors for pennies on the dollar, and then forgives the amounts.
These states bold move to cancel medical debt not only offers immediate relief for thousands of residents but also sets a powerful example for other states and municipalities grappling with similar challenges. As healthcare affordability continues to be a pressing issue nationwide, initiatives like those in Connecticut, and New York signal a collective recognition of the urgency of addressing medical debt, and will hopefully result in more states joining the efforts.
Debbie is where you start your journey to debt freedom. It’s the program that guides, motivates, and rewards you for paying off debt! Debbie users have paid off 3x more debt than the average borrower, as well as saved around $100/month on average. Do you want to be part of this elite crowd? 👀 Join now at joindebbie.com to start earning cash rewards now!
Debbie is an app that uses behavioral psychology and prizes to help you pay off debt for good. The app rewards you for paying off debt with lower interest rates on your current credit, as well as cash. Start our free money psychology course today to get qualified. Start Now →
Join here. Terms apply.