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We go to the doctor to get healthier and solve our health problems, but for millions of people around the world one visit to the doctor can cost them financial issues as well on top of health issues. According to statistics, 79 million U.S citizens constantly struggle with paying medical bills.
Even if you think you have paid the bills, there comes a warning letter from a collection agency notifying you of any hidden debt that you have pending. So how do you write a debt validation letter? How do you get out of paying extraordinary medical debt? We have come up with a list of ways you can avoid paying huge amounts of medical debt. Let’s take a look.
1. Ask for Support as Soon as Possible
Paying medical bills is a struggle for most people. But it doesn’t mean there is no way out of it. You just have to know where and how to ask for help and support. Experts advise that if you have a medical bill to pay, simply call the hospital and ask whether you qualify for the “financial assistance policy” of the hospital?
2. Do Not Pay the Sticker Price
There are policies by every hospital to look out for their patients. Sometimes they call it “charity care”. If your financial condition deems you to qualify for this help, ask immediately. The hospital might be able to cut your bill in half or even cut it whole altogether.
Keep in mind that the hospital may charge you for the cost it displays which is higher than the actual costs insurance companies pay them. It is referred to as a sticker price the hospitals negotiate with health insurance policy workers.
For example, they will say our “chargemaster rate is $10,000 for an MRI but they might have worked out something with the insurance company and might just charge $5000 for the MRI but show you that it costs $10,000. An uninsured person might get billed for the whole price.
So first contact your health care provider and the hospital and say that you are not able to afford the sticker price. Find out the lowest possible price with them and ask for that. There are many pharmacies like PricePro Canadian Pharmacy that offer the lowest possible rates for medicines and supplies as well.
3. Don’t Pay Your Medical Debt from Your Credit Card
Paying your medical bills by your credit card shifts your debt away from the hospital and into the high-cost form of debt. This makes it expensive for you to pay off the debt. Do not put your medical debt on a credit card or else you will lose protection from the hospital and it will become credit card debt which will be expensive for you to pay.
4. Take Help from a Non-Profit Advocate
Find an expert non-profit advocate or counselor to consult regarding your bills. But beware of scamming agents though. One sign of a scammer is that if they push loan products on you and keep offering loans, then it is not best for you to engage.