Medical Debt by the Numbers

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Medical Debt Folders (Photo: Jay Hancock/KUTV)

(KUTV) -- KUTV donated $12,500 to RIP Medical Debt to help relieve debt for our viewers. With that money we were able to:

  • Pay off $1,427,692.29 of debt
  • Help 555 Utahns
  • Help people in 15 different counties
  • The smallest amount of debt we paid off for one person was $100.
  • The largest amount we paid off for one person was $33,579.71.
  • The average amount paid per person was $1,125.00.

According to the 2016 US Census, of the 3.7 million people in our viewing area, 711,000 have medical debt on their credit reports. That debt totals: $1,077,154,669.

Experts say most medical debt is not reported to credit bureaus. They estimate that in our viewing area there is actually over $10 billion in medical debt from just the last 6 to 10 years!

64 million or 17 percent of all adults in America struggle to pay their medical bills (Source: RIP Medical Debt)

Even with insurance, 26 percent of all Americans said healthcare expenses have taken a serious toll on family finances (Source: NPR)

About 42 percent of all adult Americans say they took an extra job or worked more hours to cover medical bills, and 11 percent turned to charity (Source: New York Times)

More than 11 million Americans took on added credit card debt in 2013 to cover medical expenses (Source: NBC News)

In 2013, 15 million depleted their savings to cover medical bills. Another 10 million were unable to pay for necessitates like rent, food, and utilities because of medical bills (Source: CNBC)

43 million (one in five) Americans have delinquent medical debt on their credit reports (Source: Washington Post)

Medical debt contributes to more than 60 percent of all bankruptcies in America (Source: CNN)

In the years 2011 to 2017, the United Kingdom, Japan, Taiwan, France, Norway, Germany, the Netherlands, and Switzerland had zero people claim bankruptcy due to medical bills. The United States had 4,872,487 people who claimed bankruptcy due to medical bills during this same timeframe (Source: SteamBoatToday)

Rising medical bills are expected to push 1.7 million American households into bankruptcy this year (Source: Today)

In 2015, it was found that $930 million of the $2 billion raised on GoFundMe since its 2010 launch have been related to medical bills. Yet barely 1 in 10 medical campaigns raises the necessary funds (Source: NerdWallet)

More than 1 in 3 Americans struggle to afford the cost of their medical care (Source: Bloomberg)

The average deductible for Americans who receive insurance at work is now $1,478 – 63 percent higher than it was in 2011, according to the Kaiser Family Foundation (Source: Vox)

Only 39 percent of Americans would be able to cover a $1,000 setback using savings (Source: Bankrate’s Financial Security Index Survey)

In 2017, 44% of Americans said they wouldn’t be able to cover an emergency expense of $400 (Source: Federal Reserve)

Consumer prices have gone up about 6.4 times since 1969. By comparison, delivering a baby has gone up in cost about 20 times (Source: Fierce Health)

The U.S. is the only highly developed country without Universal Healthcare (Source: Fact/Myth)

53% of Americans are now convinced that getting a medical bill they can’t afford is just as bad as being diagnosed with a serious illness (Source: The Motley Fool)

You can help! By clicking THIS LINK you can donate to help others pay off medical debt. RIP Medical Debt is able to buy debt for pennies on the dollar. So for every $1 you give, you can pay off $100 in medical debt; $10 will pay off $1,000; and $100 will pay off $10,000. We don’t get to choose who gets help. It’s a random act of kindness.

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