Medical Debt Abolishment as an Economic and Social Intervention
In briefAI summary — tap to read
Allison Sesso from RIP Medical Debt discussed how medical debt has become a uniquely American crisis affecting millions, explaining the organization's innovative model of purchasing and abolishing medical debt at pennies on the dollar. RIP Medical Debt has eliminated $8.5 billion in debt for over 5.5 million people while advocating for systemic healthcare financing reforms.
Key takeaways
- Medical debt affects over 195 billion dollars worth of unpaid U.S. healthcare costs, with disproportionate impact on communities of color and serving as a leading cause of bankruptcy.
- RIP Medical Debt uses a proprietary automated system to purchase unpaid medical debt from hospitals and secondary markets at a 1-to-100 return ratio, allowing one donor dollar to eliminate one hundred dollars of patient debt.
- Medical debt creates significant mental and physical health consequences including delayed medical care, stress-related illness, and financial strain on families, making it a recognized social determinant of health.
- The organization operates with a presumptive eligibility model requiring no application from patients, targeting those earning 400 percent below the poverty line or carrying debt exceeding five percent of annual income.
- Founded in 2014 from Occupy Wall Street activism, RIP Medical Debt gained major awareness through a John Oliver feature and now partners with hospitals, churches, corporations, and increasingly government funding sources.
- Broader systemic solutions require expanding accessible health coverage before care, improving hospital charity care policies during care, and implementing legal protections against wage garnishment and asset seizure after care.
About Allison SessoAllison Sesso is the executive director of RIP Medical Debt, a nonprofit organization founded in 2014 that abolishes medical debt through a proprietary debt-purchasing model, based in Queens, New York.
AI-generated from the meeting recording — AI can make mistakes, so check the recording for anything important.
Meeting for the Week of February 13, 2023
This Meeting at a Glance:
Program: Medical Debt Abolishment as an Economic and Social Intervention
Speaker: Allison Sesso
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Dear Club Members,
Happy ReCSV Anniversary!
Today marks a momentous day for our club as we celebrate eight years of service in RI District 5170. It is a day to celebrate all of the achievements, growth, and accomplishments that have taken place since our chartering on January 30th, 2015.
Over the years, we have come together to serve local and global communities and bring meaningful change. We have grown both as a club and as individuals, forming friendships and making memories that will last a lifetime.
I am so proud of everything we have achieved and look forward to our future plans. Again, congratulations to all of you, and thank you for making the Rotary eClub of Silicon Valley the success it is today!
Looking ahead, there is another date to celebrate - February 23rd is Rotary's 115th Birthday! On this special occasion, we celebrate World Understanding and Peace Day, making it an ideal time to focus on our commitment to peace building. It is also important to recognize the connection between health, well-being, and peace and find ways to make a greater impact in these areas.
As always, I am deeply grateful for your steadfast commitment to our mission and values. Together, we can make a real difference in the lives of those who need it most.
Yours in Service,
Angelica Marotta, PhD
President 2022-2023 Rotary eClub of Silicon Valley
Rotary International District 5170
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Program: Medical Debt Abolishment as an Economic and Social Intervention
Speaker: Allison Sesso
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Medical debt is the number one cause of bankruptcy in the United States. Over 40% of Americans are currently dealing with the challenges of medical debt. RIP Medical Debt was founded in 2014 by two former debt collections executives who realized they were uniquely qualified to help those in need.
Our one-of-a-kind model turns $1 dollar into, on average, $100 of medical debt relief. Since RIP Medical Debt's inception, we have abolished over $7 billion in medical debt for over 4 million people. In this presentation, you will learn more about RIP Medical Debt's innovative approach and the impact it's having on this intractable problem.
Our speaker, Allison Sesso, became the President/CEO of RIP Medical Debt in January of 2020. RIP Medical Debt was established for the sole purpose of reducing the medical debt burdens of low-income individuals with limited capacity to pay their medical bills by leveraging donations from people across the country. We have abolished $7,387,275,754 to date for over 4,255,986 people. Prior to joining RIP Medical Debt, Allison served as the Executive Director of the Human Services Council of New York (HSC), an association of 170 nonprofits delivering 90% of human services in New York City. Allison's work on behalf of the human services sector led both the city and state of New York to recognize her as a top nonprofit leader in 2018 and 2019, one of the 25 most influential leaders in Manhattan in 2017, and one of New York City's 100 "Most Responsible" in 2016.
Members and guests, please welcome Allison Sesso!
To learn more, go to:
Testimonies from beneficiaries: https://youtu.be/_7Hijtpag8o
How it works: https://youtu.be/OSk8xDd2GbU
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