Toledo and Lucas County have each committed $800,000 toward a plan that could relieve up to $240 million in medical debt for qualifying residents.
Ms. Sesso said RIP Medical Debt is in contact with hospitals, physicians groups and other medical groups from which debt can be bought, according to the report. Once a contract with Toledo is formalized, RIP will request the amount of money needed to purchase the debt.
She said RIP would likely buy $50 million or $100 million in debt at once, according to the report, adding that on average, $1 buys about $100 in medical debt.
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