No one ever plans on having medical debt, but the bills from hospitalizations, treatments and life-saving drugs pile up for many Americans. In fact, medical debt is one of the leading reasons for filing bankruptcy in the United States. Even if you are unsure how you will ever pay off your bills, there is hope. Here are some ways others have tamed their medical bills.
Check Your Bills
The first thing you should do when a medical bill arrives in the mail is to check it for accuracy. The task may be involved and tedious, but it could shave inaccurate charges off your bill. Also, check that the amount that your insurance coverage paid is correct.
Set Up A Payment Plan
Once you are sure that the bill is accurate, one way to deal with a massive bill that cannot be paid all at once is to set up a payment plan with your medical providers. Contact the billing office and ask what terms they could set up for you. Being upfront about your repayment situation could gain you a low or no interest payment plan.
Use Medical Cards
If your medical provider does not extend payment plans to patients, they may offer a medical credit card program that will give you zero interest charges for a set period, such as six months to a year. This option is worth exploring if you think that you can get the balance paid off in that amount of time.
Another way to cut medical bills is through negotiation. You may be able to reduce your bill by talking with the provider. This method may be especially beneficial for those who do not have medical insurance. Since costs are higher without a pre-arranged insurer discount, your provider may settle for the going reimbursement rate to pay off your bill.
Beware of paying off your medical debt with a credit card which you are then unable to pay. If you are in over your head with medical bills, it can be beneficial to consult with a debt reduction professional to explore your options.