The Conversation - A medical-debt vanishing act

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Medical debt is the worst. I speak from experience: A few years ago, I slipped on a Manhattan subway platform, shattered my ankle in three places and got hit with $14,000 in bills. And that was with good insurance!

Don’t worry, readers: My limbs and finances are once again intact. But I was still intrigued when Eric Adams, the mayor of New York City, recently announced a plan to buy and forgive more than $2 billion in medical debt held by city residents. Could relief really be in store for my neighbors?

Yes, as it turns out, and NYC residents aren’t alone. Across the country, local governments are increasingly turning to medical debt buyouts as a policy tool. And as University of Southern California researcher Erin Duffy notes, they’re actually quite effective. At least $10 billion in U.S. medical debt has been wiped out using this method.

But as with so much else in health care, it isn’t a panacea.

[ Science from the scientists themselves. Sign up for our weekly science email newsletter. ]

Tracy Walsh

Economy + Business Editor

Medical debt can have devastating consequences. PhotoAlto/Odilon Dimier via Getty Images

Buyouts can bring relief from medical debt, but they’re far from a cure

Erin Duffy, University of Southern California

Local governments are increasingly buying – and forgiving – their residents’ medical debt.

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