Connecticut becomes first state to wipe medical debt for residents. $1 Billion goes poof.

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Connecticut’s Democratic governor has revealed a drastic plan to wipe out medical debt for state residents – but has not yet revealed how intends to pay for erasing the $1billion bill.

Governor Ned Lamont announced the plan Good Morning America today, unveiled a plan to partner with a nonprofit organization that buys medical debt and ‘eliminates’ it at a reduced cost.

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The move would help an estimated 250,000 residents and will be helped with a $6.5 million fund from the American Rescue Plan Act that sought to cancel medical debt, he said.

‘This is not something they did because they were spending too much money, this is something because they got hit with a medical emergency. They should not have to suffer twice, first with the illness, then with the debt.

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‘I think it’s really important that people have a sense that they can start building wealth of their own,’ he said.

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