Billionaire Snapchat Founder Pays Off $550 Million in Medical Debt for Californians ...Saudi Arabia

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"We are so excited because we are announcing a partnership with Undue Medical Debt to relieve over half a billion dollars of unpaid medical debt for more than 250,000 Californians," Spiegel announced on Thursday, June 25.

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"When someone you love is sick, all you want to do is focus on helping them get better," she added. "That's why we wanted to support this effort to help relieve medical debt, so families can focus on caring for their loved ones and really supporting their healing."

There is no application necessary to receive the payoff, and recipients will begin receiving letters in mid-July.

According to the nonprofit's website, those who qualify for debt relief must earn less than 4 times the federal poverty level and have medical debt that is more than 5 percent of their annual income.

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