Medical Debt Resources

If you are someone who is having trouble paying your medical bills because of a serious illness or being in the hospital recently, there are a few tips listed below so that you can avoid becoming stuck with a lot of debt that you can’t pay.

Research Choices

Look into possible government assistance, like Medicaid, charity options, and private health insurance.  You may find something that is going to be available to you.  Talk to the billing departments about your options and your concerns.  Never be afraid to try medical bill negotiation and see if you can get your medical bill reduced.

Look at Your Bill

You want to make sure that there aren’t any errors on the bill. Are there charges on there for services that you never received? It’s not uncommon for departments to make mistakes. If you pay a bill without examining, chances are that you may be overpaying. Make sure that you are looking at the bill and if there is an error, bring it to the attention of the billing department.

Credit Cards

Chances are that your doctor or hospital are going to suggest opening a credit card, but you should think about using one of your own.  See about an extended introductory rate – your company might be interested.

Prevent Mishaps

Look over your current bills and pay the ones that are most important first.  These are the bills like mortgage, electricity, and water. One of the last things that you want to do is to use your home equity to pay off the medical bills. If you can’t pay off your debt, you take the chance that you are going to lose your home.  The last thing that you want to do is to add to your financial problems by having a foreclosure on your hands.

Budget

Finally, once you have gotten your bills paid off, budget your money. Put some money into an account that is just for medical emergencies.  Whether it’s $20 a week, $50 a week, or more, set it up with your employer. This is going to help you to avoid these problems in the future. And remember; don’t touch that account unless it’s for a medical bill.  That way the money will be there when you need it for another medical bill.

Medical bills are hard, especially when they are unexpected. But when you look into the options that you have and plan for the future, you are going to find that things are not that bad.

A common problem that a lot of people are having these days is that they find that they are unable to pay for their medical bills that they have amassed. They wonder how they might be able to get their bills paid and help to save their credit.

Here are some tips that can be used to get rid of medical debt.

Consolidate Medical Debt

The first thing that you can do to get rid of medical debt is to consolidate medical bills with the help of your home equity.  This is a perfect idea for those people who own their home and have owned it for several years.

Negotiation

If you don’t have any health insurance, you may be able to talk to your doctors and see if they would be willing to negotiate with you on the amount that you owe them.  Most doctors are reasonable and they might be willing to help you out.  You just have to make sure that you are asking the right person.  Be persistent but be polite.  A patient who is nice about asking is more likely to get a favorable response than one who is demanding.

Transfer

the third thing that you can do is to transfer the amounts of medical debt that you have to your credit cards.  This may give you a bit more leeway, as you are going to be able to pay on it each month instead of paying for it all at once.  Along with doing this, see if your company has a flexible spending plan that you can sign up for and take advantage of. This is a debit card that has a set amount that you get each year, depending on how much you have taken out of your paycheck, and it can only be used for medical expenses.

Some people think that bankruptcy is the way to go when it comes to any kind of debt, even medical debt, but that’s something that you should use as a last resort.   Try the options that are listed above first and see if they will work.   Chances are that you will find one that is going to work for you and for your situation.  Remember this: you are not alone. There are a lot of people who have this problem and it’s nothing to be ashamed of.

Costly medical bills are something that a lot of people find to be a problem thanks to losing jobs and health insurance. If this is something that has happened to you or your spouse, then here are some tips on how you may be able to negotiate your medical bills.

Ask

The first thing that you can do is outright ask the doctor or hospital if they would accept a reduced amount from you.   Even the insurance companies don’t pay the whole bill so they may accept that.  The worst answer you will get is no.

Talk to Billing

Unless your doctor has a private practice, chances are that he doesn’t have any say in how much patients are billed.  If your doctor says he can’t help you, call someone in billing and ask them if they might be willing to lower your bill. 

Talk to Doctor

If you have a bill that your insurance won’t pay, talk to your doctor and see if he or she will write a letter to your insurance company explaining to them why you needed to have the test done.  Insurance companies are more likely to listen to a doctor because the doctor knows just what to say to help convince the company.

Ask for Samples

If your doctor has prescribed you a medication that you know you can’t afford, ask them if they have some samples available.  Doctors are often given samples from pharmaceutical companies, and if you are short of money or have no prescription plan, the doctor might be willing to give you some of the samples. This is especially good if you are only going to be on the medication for a short period of time.

These are just a few of the things that you can do to help negotiate medical bills.  In these hard financial times, finding money for food and basic necessities can be hard.  But when you are faced with a medical problem that you didn’t plan for, things can be even more difficult. With a little patience and ingenuity, you will find that health costs don’t have to be overwhelming.  If you do fact finding and go to your doctors, you may find that they are willing to help you in the ways that they can.