Almost half of all money raised through crowdfunding is going toward medical expenses


crowdmedicalAlmost half of the money raised on crowdfunding sites like GoFundMe and YouCaring is going toward medical expenses.

Medical campaigns make up $930 million of the $2 billion raised on GoFundMe, according to NerdWallet. Almost half of the $800 million raised on YouCaring, another crowdfunding platform, went towards medical expenses, Bloomberg reports.

The reasons people cite for turning to crowdfunding vary from trying to fill in gaps in Medicare to hitting deductibles ( the amount of money a person needs to pay out of pocket before insurance kicks in) to just generally hoping to make ends meet.

Under the American Health Care Act, the Obamacare replacement bill that passed the House in May, 23 million more Americans could become uninsured by 2026, leaving millions more on the hook to pay for medical expenses out of pocket.

“Whether it’s Obamacare or Trumpcare, the weight of health-care costs on consumers will only increase,” YouCaring CEO Dan Saper told Bloomberg.

Source: Almost half of all money raised through crowdfunding is going toward medical expenses

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