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Healthcare Company Purchases and Forgives $1M of Medical Debts

Better, a company that works with individuals to “get back the money their health insurance owes them,” has purchased and forgiven $1 million of medical debt for several hundred Californians.

A report promoting the act did not mention how much the company spent to acquire the $1 million of debt.  Better is using RIP Medical Debt to help it purchase the portfolios and forgive the debts.

Better is seeking to ultimately purchase and forgive $16 million of unpaid medical debts, according to the company’s website.

Rachael Norman, the founder of Better, says that the size of the debts ranged from $0.25 all the way up to $124,000. Cases were chosen at random. The average amount of debt that was forgiven was $4,000, she said.

Norman said the company is taking a page from the playbook of John Oliver, the host of “Last Week Tonight” on HBO, which purchased and forgave $15 million of medical debts last year.

 

 

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