- 1). Request an itemized bill from each hospital and doctor visit. Invest time reading each bill and look for any errors before paying. A remarkable statistic to keep in mind is that as many as 80 percent of all hospital bills will have some kind of billing error. So read carefully! Look for double charges or charges for procedures, lab tests and prescriptions you never received. Ask for clarification for any medical charge you don't understand.
- 2). Realize the total listed on your bill may be negotiable. The provider or hospital may accept a lower amount as payment in full. Insurance companies and Medicare compensate care at a negotiated rate which is much lower than the cost for someone without insurance. Ask what the same visit would cost someone with insurance and insist on only paying that amount.
- 3). Offer to pay bills immediately if you have the cash. Sizable discounts may be possible -- up to 50 percent -- if you agree to pay quickly. Healthcare providers want to avoid a costly collections process, so if you come ready with your checkbook it might mean big discounts.
- 4). Avoid charging medical bills on a credit card just to pay quickly. Medical debt is not viewed by creditors as negatively as credit card debt. Don't pay with home equity, which will convert unsecured medical debt into a secured obligation. Refuse any hospital offer for an outside lender credit line with 0 percent interest to help finance your medical bills. Miss one payment and you could start paying up to 30 percent interest.
- 5). Hire a claims specialist or medical-billing advocate to get help with medical bills. A professional works on your behalf and is a good option if your medical care is very complicated. They do charge for their services, but their expertise can save you thousands.
- Advertisement -
- Advertisement -