Medical Debt and its Impacts on Health and Wealth: What Can Philanthropy Do to Help?

Seventy-nine million Americans struggle to pay their medical bills or are paying off medical debt.  With the healthcare system structured to place a significant burden of the cost of care on households, medical debt is the most common type of debt in collections and the most common debt to lead to bankruptcy. Medical debt also disproportionately impacts communities of color, perpetuating and exacerbating the racial wealth gap by draining cash flow that other households without medical debt can save or invest. The good news – philanthropy has an opportunity to find and invest in solutions to support the millions of households struggling at all phases of the medical debt lifecycle. Each opportunity is accompanied by real examples that have been proposed or enacted and recommendations for philanthropy to support change and solutions at scale.

This is the third installment of Asset Funders Network’s three-part series on consumer debt.

Click here to access the webinar and related slide deck.


Authors

Sarika Abbi

Associate Director, Financial Security Program

Raquan Wedderburn

Senior Program Coordinator, Policy and Market Solutions

Post-its cover a table
Blog Posts

Capturing the Impact of Public Benefits Coordination

Learn about the impact 400 leaders, representing 29 states and D.C., had on improving public benefits delivery.

Photo of a journey map
Blog Posts

Setting a Vision for a More Integrated System of Public and Workplace Benefits

This blog post summarizes the key takeaways from the Idea Refinery and points the way toward a more integrated system.

Publications

Learning from Young Adults to Improve Public Benefits for All

Nearly one in five young adults experience poverty. Public benefits can help them afford daily life as they establish themselves.

Simi Nwogugu
Blog Posts Videos

Empowering Girls at Scale: Simi Nwogugu’s Vision for a Safer, Stronger Africa

Simi Nwogugu’s journey reflects a bold commitment to helping African girls rise — equipping them with agency, protection, and leadership skills to rewrite their futures.

Blog Posts

UpSkill America & Guild Announce Third Cohort of Education and Career Mobility Fellowship

“We are delighted to welcome this new class of Fellows,” said UpSkill America Senior Director Haley Glover. “Supporting these leaders, who are joining a thriving community of alumni, to advance in their work and careers creating real value for their organizations and opportunities for their workforces is so rewarding. This is an incredibly impressive group.”

Blog Posts Of Interest

National Job Quality Practitioner Survey

We’re in the last month of our #JobQuality survey. If your org is improving #JobQuality, add your voice to this survey from The Aspen Institute Economic Opportunities Program by December 31st.

Publications

Navigating the Future of Sustainability Strategy

How can sustainability leaders stay strategically relevant within their organizations?

Navyn Salem
Blog Posts Videos

A Mother’s Mission to End Malnutrition: Navyn Salem’s Global Impact

Navyn Salem launched Edesia to combat global malnutrition, creating life-saving foods that have helped millions of children survive and thrive.