"NYC to Erase $2 Billion Medical Debt for 500,000 Residents"

New York City plans to use $18 million to clear more than $2 billion in unpaid medical debt for around 500,000 residents by partnering with nonprofit organization RIP Medical Debt, which buys and erases medical debt. The program will target New Yorkers with medical bills at least 5% of their annual household income or those in households with income under four times the federal poverty line. This initiative aims to alleviate the burden of medical debt, which disproportionately affects low-income individuals and those without adequate health insurance.