Insurance broker donates to help relieve medical debt
Posted 12/21/22
Benefit Commerce Group, an Alera Group company insurance broker, has announced that for the third year in a row it’s making a donation in honor of its clients to help pay off medical debt for …
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Insurance broker donates to help relieve medical debt
Posted
Benefit Commerce Group, an Alera Group company insurance broker, has announced that for the third year in a row it’s making a donation in honor of its clients to help pay off medical debt for individuals in Maricopa County, Arizona.
“We have received very positive comments from our clients and others the past two years about this effort, and that’s why we are continuing to help our community through this program,” said Scott Wood, managing partner and principal of Benefit Commerce Group. “In 2020 and 2021, the total of our contributions helped 3,342 individuals and relieved a total of more than $3.3 million in medical debt through this program.”
RIP Medical Debt is the organization that’s able to leverage these contributions to wipe out $100 in debt for every dollar donated, a press release stated.
It identifies individuals and families with outstanding health care-related bills, and purchases the debts for those most in need in bundled portfolios for a fraction of the face value. That is how one dollar donated relieves $100 of medical debt on average.
Founded by two former debt collectors, RIP Medical Debt has purchased medical debt totaling over $7 billion for over 4.2 million people.
BCG has set up a website with RIP Medical Debt specifically for its employees, clients, business associates and others to have an opportunity to contribute to the medical debt relief program.
To join us in this effort, go to https://ripmedicaldebt.org/campaign/maricopa-county-az/?.