EarnIn, a pioneer in Earned Wage Access (EWA), announced today that they have alleviated $2.7 million dollars in medical debt for people living in Clark County, Nevada, home to Las Vegas, which holds the fourth largest amount of medical debt in the country. EarnIn has now abolished $22 million dollars of medical debt in total this year alone.

“Across the country, particularly in Clark County, medical debt is impacting people at a high level, hampering financial mobility and amplifying financial inequality,” said EarnIn CEO and Founder Ram Palaniappan. “Abolishing this medical debt, as we also recently did in Bexar and Maricopa Counties, fulfills our mission at EarnIn to make financial momentum accessible to everyone.”

Even Americans with health insurance are incurring medical debt at significant numbers, as about a third of adults with employer or marketplace coverage are paying off debt from medical care. Medical debt is also leading many people to delay or avoid getting care or filling prescriptions. Medical debt remains the largest driver of bankruptcy in the US with two-thirds of bankruptcies citing medical debt as the leading cause.

Today’s medical debt relief was provided in partnership with RIP Medical Debt, a national nonprofit making a difference in the lives of those struggling with medical debt. The organization erases debts for households that earn four times, or below, the federal poverty level, and/or whose medical debt is 5% or more of their annual income. This ensures RIP Medical Debt is helping those most financially burdened by the medical debt crisis. Importantly, relief recipients will receive a letter in the mail informing them their debt has been abolished, and they should hold onto this letter for record keeping. Medical debt relief is source-based, meaning the nonprofit can only acquire qualifying debts from amenable providers like hospitals, physician groups or collection agencies and medical debt relief cannot be requested.

“Clark County residents suffering from medical debt are forced to make difficult tradeoffs that prevent them from pursuing their goals and achieving financial stability, such as dipping into their savings, cutting spending on essentials and taking on additional debts,” said RIP Medical Debt’s President and CEO Allison Sesso. “We are grateful for the work that EarnIn is doing to abolish these debts of necessity and enable people to achieve some financial and emotional relief.”

Clark County residents benefiting from this debt relief program will be notified with RIP branded envelopes starting to arrive as early as November 7, 2023. Per Becker’s Hospital Review, over 17% of Clark County residents suffer with medical debt, with the median amount of debt for residents being $794.

To learn more about EarnIn’s medical debt initiative, please visit earnin.com/medicaldebt.

About EarnIn

EarnIn lets you access your money as you earn it — not days or weeks later.

We're on a mission to reimagine the way money moves to empower every person’s potential. That starts with payday every day and builds with tools like automated Tip Yourself accounts¹, Credit Monitoring, and Balance Shield², a low-balance alert feature. All with no interest³, no credit checks⁴, and no mandatory fees⁵. So our customers have as many opportunities as possible to spend and save on their terms.

EarnIn’s pioneering Earned Wage Access app is backed by world-class partners like A16Z, Matrix Partners, and DST. Since our founding in 2013, 3.8 million customers have given it over 380,000 5-star reviews for helping them access over $15 billion in earnings.

Learn more at EarnIn.com

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¹ Tip Yourself Account funds are held with Evolve Bank & Trust, member FDIC and FDIC insured up to $250,000. Tip Yourself is a 0% Annual Percentage Yield and $0 monthly fee service. Your Tip Yourself Account and any Tip Jars are not Savings Accounts. For more information/details visit earnin.com/tos

² Balance Shield cash out is subject to your available earnings, Daily Max and Pay Period Max. Other restrictions and/or third-party fees may apply. For more information visit earnin.com/TOS.

³ EarnIn does not charge interest on Cash Outs.

⁴ EarnIn does not charge interest on Cash Outs.

⁵ EarnIn does not charge hidden fees for use of its services.

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