Nonprofit organization Undue Medical Debt has erased more than $550 million in medical debt for more than 261,000 Californians through a recent donation.
Five things to know:
1. The gift comes from Evan Spiegel and Miranda Kerr, according to a June 25 news release from Undue Medical Debt. The nonprofit said it is the largest statewide medical debt erasure in California to date.
2. Mr. Spiegel is the CEO of technology company Snap, and Ms. Kerr is the founder of skincare company KORA Organics, the LA Times reported June 25.
3. Recipients will begin receiving notification letters in mid-July. Undue Medical Debt said debt relief cannot be requested because it is based on debt the nonprofit acquires from hospitals, physician groups and collection agencies. Eligible recipients are at or below 400% of the federal poverty level or have medical debt equal to 5% or more of their annual income.
4. Undue Medical Debt said it has erased more than $40 billion in medical debt across all 50 states by purchasing qualifying debt in bulk and canceling it. The organization said 1 in 4 U.S. adults have medical debt and that people with medical debt are three times more likely to experience depression and anxiety.
5. San Diego County saw the largest amount of relief, with $99,026,313 in medical debt erased for 40,369 people. Riverside County received $69,485,215 in relief for 35,486 people, followed by San Bernardino County with $56,508,865 for 32,034 people.
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