If you are struggling financially, a sudden medical expense can send you into a spiral of debt. Even if you have insurance, copays and coinsurance can add up quickly. If you fall behind in paying your medical bills, some facilities will require upfront payment before they allow you to see a doctor. Before you neglect your health, consider the following ideas for reducing and paying your medical bills.
Check the Bill
Medical bills are full of errors. Some experts say that 50 - 80% of all medical bills contain errors that lead to overcharges. You need to check each line of any medical bill, which can be a daunting task, particularly if you have had complicated surgery. In that case, you may want to engage the services of a medical billing advocate, someone who has enough knowledge to catch these mistakes. When you find an error, you need to contact the hospital or clinic's billing department and firmly ask that your bill be corrected. Do not be intimidated, and do not relent until your account has been corrected.
You should never hesitate to ask for reduced rates on your medical bills. If you are uninsured, request the hospital's negotiated rate, the rate that they collect from insurance companies. You may not realize that the uninsured are actually charged the full rate while private insurance, Medicare, or Medicaid pay much less. Also, if you can possibly pay off the bill in full, you may get a substantial discount.
If you ignore a medical bill, you will end up in collections, and your credit will be adversely affected. If other alternatives fail, you can negotiate a payment plan with the medical facility. If you need cash now to get your account back in good standing, consider getting a quick loan from a loan establishment. These loans rely on your employment status rather than a credit check. The payments are taken directly from your bank account, usually on your payday. If you pay back the money quickly and in full, they can be a useful tool, especially where medical expenses are concerned. After all, medical treatment is not optional.
Huge medical bills can be overwhelming, but you can manage to pay off your debt if you use a few proven strategies. Never assume that your bill is correct or final. You can question charges and negotiate for a better rate. Keep up your payments with a little loan help, and soon you won't owe the medical establishment anything.Share
24 June 2015
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