In previous blog posts, we have detailed a relatively new method for fundraising for medical expenses called crowdfunding along with our own crowdfunding platform, HEALfundr. Recently, there has been some news regarding the Federal Trade Commission (FTC) and a crowdfunding project that made us want to touch upon some key differences between HEALfundr and other crowdfunding platforms.

This month, the FTC formally charged the creator of a Kickstarter campaign with deception by spending crowd-raised funds on himself and unrelated projects instead of the board game represented in his campaign. Using the Kickstarter crowdfunding platform, intended for creative or entrepreneurial projects, the creator raised over $122,000 from 1,246 backers who hoped to receive the board game in return for their pledges. The FTC’s Bureau of Consumer Protection found that the creator spent most of the money on unrelated personal expenses and licenses for a different project. The order imposes a $111,793.71 refund to those who pledged, but the judgment is suspended due to the creator’s inability to pay.

This kind of development can raise a lot of

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Even with recent legislation making health care more accessible, Americans still need help paying for medical expenses. Despite having insurance coverage, 10 million Americans faced bills they were unable to pay in 2013.

When options run low and eligibility requirements for assistance can be restrictive, many are turning to online crowdfunding.

Remaining popular for creative works, crowdfunding is a tool to collect donations using the Internet towards a larger single goal. In 2012, up to 30% of all crowdfunding campaigns were for social or medically related causes. The use of social media has connected those in need with those in their own personal networks and beyond that are able to help.

Earlier this year, NeedyMeds launched HEALfundr to take what we saw as the next logical step in medical crowdfunding. Our unique vision is one of secure, verified campaigns that take the hassle and stress of coordinating between incoming donations and outgoing bills as well granting donors the confidence their contribution is going to an essential need.

The only eligibility requirements of HEALfundr are that you have legitimate medical expenses

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Crowdfunding Your Power To Heal

“Crowdfunding” is a buzzword that hasn’t quite made it to everyone’s ears yet. It refers to the practice of collecting donations from a group or “crowd” to raise money through small donations towards a single goal. The platform has existed for longer than most would think—19th century literary works were published in a similar way, local or noteworthy patrons giving commissions to an author for a future copy of their work. The Internet has revolutionized the reach of crowdfunding. Kickstarter is the name most commonly associated with crowdfunding, helping fund creative projects with backers usually receiving a reward for their pledged donation.

Charitable crowdfunding, though typically absent of any reward incentive (isn’t giving its own reward?), has also been hugely impacted by the Internet. New platforms are using modern technology to elicit donations for personal or cause-based campaigns. Individuals raise funds to help recover from a disaster or personal tragedy, pay their pet’s vet bills, fund honeymoons, and to help pay their own medical bills. These personal campaigns can spread

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NeedyMeds is proud to be participating in #GivingTuesday.  #GivingTuesday is a first of its kind effort to transform how people participate in the giving season. Similar to how Black Friday and more recently Cyber Monday have become synonymous with holiday shopping, #GivingTuesday aims to make the Tuesday after Thanksgiving a National Day of Giving. In 2012 over 2,500 organizations partnered with #GivingTuesday and raised over $10 Million in online donations in a single day.

History of GivingTuesday

New York’s 92nd Street Y was the catalyst and incubator for #GivingTuesday, bringing the expertise of 139 years of community-management to the project and providing #GivingTuesday a home. The United Nations Foundation joined as partners, bringing their strategic and communications clout to the project. An amazing team of influencers then offered their ideas, contacts and wisdom to help shape and improve the concept. A powerful list of corporations and non-profits agreed to be founding partners, helping spread the word and committing to their own #GivingTuesday initiatives. Since then, countless

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