Sky-high medical bills have forced many individuals to turn to crowdsourcing to pay what they owe, according to the CEO of GoFundMe, who spoke on CBS MoneyWatch.
Of the $5 billion raised since GoFundMe’s launch in 2010, one-third has gone to 250,000 medical campaigns, CEO Rob Solomon revealed earlier this month. The trend is popular in Canada and the United Kingdom as well, even though those countries have universal healthcare.
Recently, one hospital in Michigan hospital told a potential heart transplant patient that she should consider fundraising $10,000 to pay for her care. The hospital’s letter attracted attention from U.S. Rep. Alexandria Ocasio-Cortez (D-NY) and launched a flurry of chatter about healthcare costs in general.
While strangers online are helping pay the medical bills of thousands, some campaigns have raised money for dubious healthcare treatments that aren’t proven to work.
The high rate of GoFundMe campaigns aimed at paying medical bills comes as the uninsured rate reached a four-year high in 2018.
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Amy joined TriMed Media as a Senior Writer for HealthExec after covering home care for three years. When not writing about all things healthcare, she fulfills her lifelong dream of becoming a pirate by sailing in regattas and enjoying rum. Fun fact: she sailed 333 miles across Lake Michigan in the Chicago Yacht Club "Race to Mackinac."