Monitor Each Medical Bill To Completion
One of the biggest mistakes you can make when it comes to medical bills is assuming that your insurance company will automatically take care of any bills submitted to them. Mistakes happen and you will be the one paying the price in the form of collection actions against you and a lower credit score than you deserve. Review every medical bill you receive and keep track of when it has been paid by your health insurance company. If you notice that the bill has not been paid within a month, initiate contact with your insurance company and the medical provider to find out what you can do to speed up the process. If you monitor each medical bill to completion, you will never be caught unaware by an unpaid medical bill.
Work Out A Payment Plan For Large Medical Bills
Contrary to popular belief, most hospitals do not think that average consumers will be able to pay large medical bills outright from their bank accounts. Many medical facilities have a process in place to allow people treated at the hospital to work out a payment plan for the debt that will not be covered by payments from the insurance company. In many cases, these payment plans have little to no interest charges added to the account. The medical facilities aren’t interested in making money on interest charges; they just want you to pay for the care that you have received at their facility.
Inquire About Financial Assistance
If you find that your medical bills are overwhelming based on your income, you may qualify for some sort of financial assistance or discount on the amount owed. Different states have different programs in place to help residents that are facing large medical debts that they are unable to repay based on their income level. Your medical provider or the hospital where you received care should be able to direct you in how to apply for these programs.