Billionaire unveils fund to defend people from medical-debt collectors

Billionaire sets up medical fund to help those less fortunate.

In this Tuesday, Aug. 4, 2015 file photo, a nurse places a patient’s medication on an intravenous stand at a hospital in Philadelphia. In this Tuesday, Aug. 4, 2015 file photo, a nurse places a patient’s medication on an intravenous stand at a hospital in Philadelphia.

AP Photo | Matt Rourke

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. “Medical rates and medical expenses continue to skyrocket, going up and up,” said Frank VanderSloot, founder and CEO of Melaleuca, an Idaho Falls-based health products company. […]

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