Officers in Illinois’ Cook dinner County hope to make use of $12 million in federal COVID-19 aid funds to alleviate greater than $1 billion in medical debt, the Chicago Tribune reported July 21.
If accepted, the county — house to Chicago — pays the funds over the following three years to RIP Medical Debt, a nonprofit that purchases and forgives medical debt for pennies on the greenback, based on the report.
This system awaits closing approval from the Cook dinner County Board of Commissioners, and native hospitals should consent to take part, however board president Toni Preckwinkle stated she expects each to occur in time for a late fall rollout, based on the report.
Eligible residents can be those that acquired healthcare on or after March 30, 2020, have a family earnings lower than 4 instances the federal poverty degree, or have medical money owed which can be 5 % or extra of their annual earnings, based on the Tribune.
Two hospitals owned by the county — John H. Stroger Jr. Hospital and Provident Hospital — usually are not eligible to take part resulting from American Rescue Plan Act spending restrictions, the Tribune reported.