Posted on 02/27/2020 7:37:55 AM PST by knighthawk
A megachurch in Cincinnati announced Sunday that it is paying off $46.5 million in medical debt for more than 45,000 families.
Crossroads Church partnered with RIP Medical Debt, a medical debt relief nonprofit, to wipe out debts for people in Ohio, Kentucky, Tennessee and Indiana. They will receive bright yellow envelopes this week letting them know the good news.
(Excerpt) Read more at foxnews.com ...
Right in my backyard. This was really very cool and very understated also.
This is WHAT the Churches used to do before dropping the ball and letting government take it over. Kudos to the church for doing this——not through government.
I hope in the end they paid Medicaid reimbursement rates, or even lower.
This is a church following Christ’s example. May God bless the people of this Church.
The Catholic Church spends MILLIONS too, paying off pedophile lawsuits.
Probably determined they couldn’t collect it anyway.
Now some of them rake in the cash, and buy private jets.
Just wondering how the medical providers address the ‘loss’ at the discount prices they agree to accept from RIP Medical Debt. Do they simply pass it along to those who can pay?
MPs are not in the business to lose money.
Spend some time reading about this organization. They buy medical debt on the open market, much like any other collection agency.
But then they partner with donors to pay it off.
The debt paid off is bought in bundled portfolios, and once a medical debt reaches that point there is little chance that the debtors would ever be able to pay it off easily.
Probably hasn’t been collected for a ‘long’ time anyway. So I’m guessing this was set up as a bad debt reserve and amortized out over the last few years. Just guessing.
I’m wondering if the recipients of the largess will need to pay taxes on it.
“ For every $100 donated to RIP Medical Debt, $10,000 in medical debt is wiped out, according to the New York-based organization.”
There is some magical math happening here. My guess is that this debt has been turned over to collection at a small fraction of the nominal amount. The above numbers indicate a discount of 90%.
The $47mil was probably the full retail no insurance price that hospitals know they will not collect and the Church probably paid $4.7mil for the debt.
Still a very good work.
Foolish ROI.
For each $5 or so spent, they could have supported the conversion of a rural Chinese person to fervent Christianity.
Instead, this money is going to wealthy doctors that could have written off what was probably inflated medical charges. This could win a few souls. It could also be off-putting to people equally needy that read the story and do not get their bills paid.
Sadly, anywhere children gather, be it churches, arcades, malls, Scout groups, there will be pedophiles on the periphery waiting to strike. They will slowly work their way into the group then strike.
These groups do not produce pedophiles, but they do attract them like magnets. which is why you have to watch your kids like a hawk.
Interesting opinion. So in your opinion, they shouldn’t pay off medical debt, but should work to convert Chinese people to Christianity instead?
I guess I’m.missing how one excludes the other, but so be it.
That is Christianity, not socialism.
Private charity. If you’re going to “wipe out debt” by paying it off then this is the way to do it. If you’re going to “wipe out debt” by government fiat, you’re simply robbing the creditors of their money.
Not to mention keeping the late Atlanta bishop’s mistress paid off.
In my opinion, they can do whatever they want. I am pointing out the low ROI. They could win 1000 times more souls sending Bibles and Missionaries into places that are starving for them.
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