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STAFFORD, Texas, Aug. 23, 2022 (GLOBE NEWSWIRE) — Money Management International (MMI) is pleased to announce an exciting new relationship with Dollar For to help clients crush mounting medical debt for free, no strings attached.
As recently discussed during an MMI webinar, medical debt is the most common past-due bill and the leading cause of bankruptcy in the United States. Families and patients are burdened with an estimated $195 billion in medical debt across the country, according to an analysis by the Peterson Center on Healthcare and Kaiser Family Foundation.
"We are extremely grateful to offer this new feature to our clients at MMI," said Thomas Nitzsche, Sr. Director of Media & Brand at MMI. "About one in five of our clients cite medical debt as their primary reason for making the first call to us for help. Our data also shows the average monthly budget shortage for these clients is about $750 greater than our general client population."
Dollar For is a national non-profit organization that eliminates or reduces medical debt by empowering patients and advocating on their behalf. The organization does not pay medical bills, but helps patients access and apply for charity care from nonprofit hospitals.
"We know it can be difficult for people to navigate charity care and we want them to know all nonprofit hospitals must offer this financial assistance to qualified patients," added Nitzsche. "Since we help clients with credit card debt, we can now also refer those struggling with medical debt to Dollar For. It's a win-win."
According to HealthCare.gov, a three-day stay in the hospital costs an average of $30,000.
MMI and Dollar For can't guarantee that debts will be forgiven, a decision made by hospitals. However, using a robust database of hospital policies and custom-built forms, Dollar For screens patients to see if their bill is likely to qualify for financial assistance.
Since 2020, Dollar For has screened over 14,000 patients for charity care eligibility and over 11,600 were deemed likely to qualify for relief on over $211 million in medical debt. Dollar For has also submitted over 3,000 financial assistance applications on behalf of patients.
"Because MMI has helped so many people get out of credit card debt, this is a perfect referral relationship," said Jared Walker, Founder of Dollar For. "We know people will put credit card payments on hold to pay down medical debt and vice-versa. We also know patients will put medical bills on their credit cards. We can help patients tackle both problems and that's transformative, paving the way to true financial freedom."
Patients with medical debt can call 866.290.3158 and visit www.dollarfor.org/mmi for more information and assistance.
About MMI
Money Management International (MMI) is changing how America overcomes financial challenges. MMI helps create, restore, and maintain a life of financial wellness through empowered choices. For over 60 years, our clients have achieved financial confidence through nonprofit programs that educate, motivate, and liberate. MMI inspires action by delivering expert professional guidance and timely solutions aligned with our client's goals. Experiencing a financial challenge? Find your solution 24/7 at 866.864.8995 and MoneyManagement.org.
About Dollar For
Dollar For is a national non-profit organization that eliminates medical debt by empowering patients and advocating on their behalf. We help patients crush their debt – for free with no strings attached. Dollar For has already secured over $18.6 million in medical debt relief. Patients can access help anytime at www.dollarfor.org/help or www.dollarfor.org/mmi.
For reporters looking to interview "real people" for stories, MMI has created a group of nearly 200 MMI clients from across the country who are willing to share their experiences with the media, in the hopes of helping others challenged with debt. Our peer advocates have paid off over $9 million of debt and now serve as MMI ambassadors. Hear from them at MMI's podcast, Long Story $hort.
To schedule an interview, please contact:
Thomas Nitzsche, 404.490.2227,
Th*************@Mo*************.org
Jared Walker,
ja***@do*******.org
Lori Geary, 404.551.2151,
lg****@le***************.com
© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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