Colorado Rockies great Todd Helton eliminates $10 million in medical debt for Coloradans
DENVER – Colorado Rockies great Todd Helton and RIP Medical Debt proudly announced a new agreement today which will erase over $10,000,000 of medical debt for residents of Colorado.
In late September, the Colorado residents benefiting from this gift will start receiving RIP branded letters notifying them that some or all their medical bills are now “paid in full.” This medical debt was abolished as a charitable act; eliminating any potential tax consequences for recipients. Medical expenses are the leading cause of bankruptcy in the U.S.
“My good friend, Ryan ‘Jume’ Jumonville recently took care of $100M in medical debt for the people in his home state of Florida. I was inspired and wanted to do something similar for the people of Colorado,” said Helton.
Jumonville is also participating in the Colorado debt relief. This is not the first time the former Tennessee Volunteers have worked together. Back in 2004, the two donated millions of dollars to healthcare program costs for UT system employees.
RIP Medical Debt is a not-for-profit, national charity that raises funds from donors and uses those funds to acquire and abolish medical debt for individuals in financial need. Since inception in 2014 over $10 billion of medical debt has been abolished, helping more than 6.5m people. Medical debt often results from unplanned, unexpected illnesses and accidents. About one-third of U.S. adults have difficulty covering unexpected health care bills. Experts estimate there’s a minimum of $195 billion of outstanding medical debt in the U.S.
RIP Medical Debt is committed to relieving people of the burden of medical debt to enhance their economic opportunities and to enable them to live healthier lives. RIP’s criteria for debt relief are those individuals who are four times or below the federal poverty level or those with medical debt that is 5% or more of their gross annual income. Medical debt relief cannot be requested and is source-based. RIP sources qualifying medical debts directly from providers like hospitals and physician groups- as well as from collection agencies and debt buyers.
“Medical debt is not only a financial burden; it also creates enormous mental health strain on patients and their families” shares RIP president & CEO Allison Sesso. “Medical debt prevents people from seeking further care and is a social determinant of health meaning having debt undermines one’s wellness. We’re grateful to Todd and Ryan for lifting up this critical issue and directly helping Coloradans who need it most.”
About Todd Helton
Todd Helton spent his entire career as a first baseman for the Rockies from 1997 until his retirement in 2013, and remains the all-time leader in nearly every statistical category. In 1995, Helton was selected by the Colorado Rockies in the first round of the MLB Draft out of the University of Tennessee. He made his debut with the team in 1997 and went on to win three Gold Glove Awards and four Silver Slugger Awards along with five All-Star Game appearances. On August 17, 2014, the Rockies retired Helton’s iconic number 17, making him the first player in the team’s history to receive this prestigious honor.
About Philanthropist Ryan “Jume” Jumonville
Jumonville has a passion for philanthropy. He is primarily focused on children’s healthcare and was the fastest to reach the Million Miracle Club for Children’s Miracle Network Hospitals. He has also provided scholarships for children of fallen U.S. military servicemen, donated more than a million meals to food banks, funded water wells in third world countries, donated to homes for single mothers, and most recently built an agriculture college in Africa to teach sustainable farming. He is also responsible for saving U.S. residents more than two billion dollars through various prescription assistance programs that he developed, funded, and/or managed.
About RIP Medical Debt
Since being founded in 2014 by two former debt collectors, RIP Medical Debt has acquired — and abolished — more than $10 billion of burdensome medical debt, helping over 6.5 million families by addressing a major social determinant of health: the financial hardship that results from unpayable medical debts. RIP partners with individuals, faith-based organizations, foundations, and corporations. RIP also partners with hospitals and health systems, physicians and other organizations to acquire medical debt for abolishment. RIP rose to national prominence on an episode of HBO’s “Last Week Tonight” with John Oliver in which RIP facilitated the abolishment of $15M in medical debt. Because debt is purchased in bundled portfolios for a fraction of its face value, one donated dollar can abolish, on average, $100 of medical debt To learn more, visit www.ripmedicaldebt.org.