How to Get Help with Medical Bills
Doctors are supposed to make you feel better. Why then do their bills cause so much heartache? Fortunately, you can get help with medical bills so that your finances are able to recover.
Sometimes life happens and it is not always fair. If you have been hit with an unexpected illness or injury, you know what it is like to face a mountain of hospital and doctor bills. You do not have to face those bills alone.
We at Debtors Unite know that insurance companies negotiate steep discounts from the amounts that medical billers charge. If you are uninsured, why should you pay more than a big insurance company?
The truth is, you probably do not have to. You also have the ability to negotiate a discount on your medical bills, and you can do so before it ever escalates to the point that a collection agency is involved.
To do so, find out what the usual and customary charges are for each item that you have been billed for. Discounts of 30-60% are common. By reducing these preliminary charges, you have a better starting point for dealing with the remaining balances. If you are unable to negotiate your own discounts, then you may consider speaking with a medical billing advocate who understands how to win reductions in medical fees.
Payment plans with hospitals and doctors are easy, so long as you can send them at least 2% of the initial balance every month. If you send less, they may deny your payment plan and return your check. Sending nothing will cause your account to be deferred to a collection agency, thereby causing a credit backlash as well as accrual of interest charges. If you can afford to send 2% of the payment, its kind of like having an
interest-free loan for your medical bills.
Medical bills do not cause as harsh a drop in credit scores as other unpaid items can. Lenders understand that a reasonable person may still select treatment options that are outside of their ability to repay if it is what is necessary for them to recover from an illness or injury. Still, you want to be careful of the impact on your credit if you fail to repay a medical bill, especially if you are planning a large purchase on credit in the near future. Defaulting on a $1,000 hospital bill could cause you to pay an extra $30,000 on your next home, so you need to be aware of the consequences if you cannot pay your bills.
If you cannot afford a repayment program, you may be able to get help from one of many charities that work with needy families who are facing medical debt. Furthermore, you may find that you qualify for free or reduced cost health services, which could help you avoid future bills you cannot afford. Don't let the cost of quality medical care keep you from proper health. Get help with medical bills from a trusted provider so that you can stay healthy while also maintaining good financial health!