Billionaire unveils fund to defend people from medical-debt collectors

CNBC — Idaho’s wealthiest man just launched a new fund to defend people from “overly aggressive medical debt collectors.”

About 1 in 5 Americans with health insurance has some medical debt, and sometimes it’s not only the billed health-care costs but the creditor’s fees and legal expenses that can bring financial hardship to families.

The problem of medical debt is even worse among uninsured, with 53% tackling some bill problem, according to a Kaiser Family Foundation/New York Times survey from 2016. Two-thirds of people who file bankruptcy cite medical bills as a factor.

Read the full story on CNBC.