John Oliver Buys $15M In Medical Debt, Then Forgives It

There is a charity that is facilitating this: RIP Medical Debt. For every dollar donated, approximately $100 of medical debt is forgiven. According to their website, the idea goes all the way back to the Jewish concept of the Jubilee.

Posted by Julie at June 7, 2016 1:20 PM

I cancelled HBO years ago, but every time I go to you tube (which is daily) I see this owl or some video from NBC upfront. No matter that I never visit either channel, ever. They're trying desperately to tell me something. I'm not listening.

Posted by Will at June 7, 2016 5:55 PM

Nice going smartass.

Did you know that debt forgiven is taxable income to the forgivees?

Posted by JamesG at June 8, 2016 6:58 AM

Apparently, the way this works that is not the case. From the RIP Medical Debt website:

"The forgiveness of the debt does not result in income to the debtor if that forgiveness is a gift that comes from a detached and disinterested generosity. We will not file a Form 1099-C with the IRS."

Posted by Julie at June 8, 2016 2:45 PM

If you have worked hard to pay off your mortgage, save a few dollars for retirement and possibly hope to have a few assets to live out your sunset years with (or pass on to family) you need to have decent health and long term care coverage. No it is not cheap, but the responsible thing to do.

No, I don't sell insurance.

Posted by Snakepit Kansas at June 9, 2016 4:10 AM

Thanks for the link, Julie!

Posted by Joan of Argghh! at June 9, 2016 5:35 AM