Rob Solomon, CEO of the popular fundraising platform, GoFundMe is “proud” to be able to help provide relief to struggling families. Solomon told CBS News that “one-in-three GoFundMe campaigns are related to covering healthcare costs”. The Moguldom Nation posted information about the fundraising company’s campaign via twitter @moguldom. “We weren’t ever set up to be a health care company and we still are not, but over time, people have used GoFundMe for the most important issues they are faced with,” said Solomon to CBS MoneyWatch.
The Trump administration’s dismantling of The Affordable Care Act (Obamacare) provisions have lead to more plans with higher deductibles, costly premiums, and less comprehensive coverage. People need assistance with paying the cost of health insurance and medical expenses. The GoFundMe CEO explained, “Insurance may cover the medical payment side of it, but it doesn’t cover you being out of work or needing transportation or lodging away from your home”. He continued, “So it is still a very big category in every market.”
About a quarter of Americans have sponsored or donated to a campaign. This percentage is likely to increase as premiums and out-of-pocket costs rise. “More than 8 million Americans started campaigns for themselves or loved ones to cover everything from routine medical care to major surgeries”, according to a report by the National Opinion Research Center (NORC) at the University of Chicago.
Carter, a physical therapist insured by Aetna shared why he sought fundraising assistance to pay medical insurance. He confided to CBS that his family’s health coverage wasn’t enough to cover his children’s medical expenses. “More Americans are struggling to pay their medical bills, and millions are turning to their social networks and crowdfunding sites to fund medical treatments and pay medical bills,” said Mollie Hertel, senior research scientist at NORC.