John Oliver Forgives $15M In Medical Debt
The "Last Week Tonight" host's latest stunt-with-a-message — to buy nearly $15 million in medical debt for just $60,000 — highlights the struggle many cope with after getting sick and amassing huge bills. And although the Affordable Care Act means more people have insurance to help pay for those sky-high costs, people are still leaving the hospital with crippling debt.
The New York Times:
For His Latest Trick, John Oliver Forgives $15 Million In Medical Debt
For his latest trick, Mr. Oliver, the host of the HBO show, formed a company called Central Asset Recovery Professionals — or CARP, named after the bottom-feeding fish — and purchased $14.9 million worth of medical debt for just under $60,000. Mr. Oliver said it had cost $50 to create his company, after which he received the portfolio offering the names, current addresses and Social Security numbers of about 9,000 people. Mr. Oliver then gave the debt away, bragging that his giveaway was bigger than Ms. Winfrey’s — her car giveaway was estimated at $7 million — and completed the show by pressing a giant red button that triggered a rain shower of dollar bills. (Rogers, 6/6)
USA Today:
John Oliver Buys And Forgives $15 Million Of Debt
"It is pretty clear by now (that) debt buying is a grimy business, and badly needs more oversight, because as it stands any idiot can get into it," Oliver said. "And I can prove that to you, because I'm an idiot, and we started a debt-buying company. And it was disturbingly easy." How easy? Well back in April they spent just $50 to start the company. "We called it Central Asset Recovery Professionals, or CARP, after the bottom-feeding fish." With an official company and a website at his disposal, Oliver was offered nearly $15 million of medical debt from Texas for less than half a cent on the dollar, or less than $60,000. (Lawler, 6/6)
STAT:
Inside The Medical Debt Charity That John Oliver Just Made Famous
When comedian John Oliver forgave nearly $15 million in medical debt in theatrical style on Sunday night, he drew laughs by proclaiming himself more generous than Oprah, who once gave away $8 million worth of cars. But Oliver, host of “Last Week Tonight with John Oliver” on HBO, also pointed to a very real and serious problem: Getting sick often means amassing large health care bills that insurance companies won’t pay and patients can’t afford. (Samuel, 6/6)
The Washington Post:
Few People Realize This Big Risk When They Go To The Hospital
More than three decades ago, emergency rooms could kick you out if doctors didn’t think you could pay. You might be suffering from a stroke, a gunshot wound or a broken spine, but if your insurance wasn’t good enough, many hospitals could slam the door in your face. This hot-potatoing of patients caused gruesome and unnecessary deaths before the practice was outlawed in 1986. Today, if you go to the hospital with an emergency, doctors pretty much have to treat you. If you have insurance, great. But even if you can’t pay, they’ll patch you up all the same. You’ll just leave the hospital with potentially crippling medical debt. Because of the health-insurance expansions under the 2010 Affordable Care Act, millions fewer Americans are likely to face that debt. (Guo, 6/6)
