Rhode Island Senate Bill S0664

Rhode Island 2025 Regular Session

• Introduced: 3/7/25
• Refer: 3/7/25

Caption

JOINT RESOLUTION MAKING AN APPROPRIATION OF $1,000,000 FOR THE PURCHASE, CANCELLATION AND FORGIVENESS OF MEDICAL DEBT (Authorizes the appropriation of the sum of $1,000,000 for the continued purchase, cancellation and forgiveness of medical debt consistent with section 35-4-21.1 of the General Laws.)

Impact

The implementation of this bill is expected to provide much-needed financial relief to Rhode Islanders saddled with medical expenses, which can negatively affect their credit scores and overall financial stability. The Rhode Island Medical Relief Program, established under the General Laws, will play a crucial role in facilitating the use of the appropriated funds to purchase and forgive medical debts, potentially lifting a burden off the shoulders of many residents. Such actions may contribute to improved mental and emotional health outcomes, as financial stress is closely linked to overall well-being.

Summary

S0664 is a joint resolution focused on addressing the issue of medical debt in Rhode Island by appropriating $1,000,000 for the purchase, cancellation, and forgiveness of such debt. The bill recognizes the significant burden that medical debt poses on individuals and families, particularly for those who face unexpected health-related expenses often not covered by insurance. Research indicates that a considerable portion of the population, including veterans and minorities, are disproportionately affected by medical debt, thus highlighting the need for targeted financial support.

Contention

Opposition to this bill may stem from concerns regarding the allocation of state funds amidst other pressing budgetary needs. Critics may argue that while forgiving medical debt is a noble goal, the state should consider a comprehensive approach to healthcare reform that addresses the root causes of medical debt, such as high healthcare costs and insurance practices. There may also be discussions on the effectiveness of purchasing debt at a discount, questioning whether this approach truly alleviates financial stress for low-income individuals or merely addresses the symptoms of a larger systemic issue.