How to Get Out of Medical Debt

Medical debt is a major financial burden that millions of people are currently struggling with. While you might feel overwhelmed by your medical bills, there are a few steps that you can take to reduce your debt, lower your payments, or even have your debt wiped out entirely.

Collect and Review Paperwork

It is an unfortunate fact that a relatively large percentage of medical bills have errors, and some studies have shown that as many as 75 percent of patients aren’t being billed correctly. 

That is just one of the many reasons why you should always review all of the paperwork that you receive from the hospital. You must also ask the hospital for an itemized list of all the charges so that you can dispute any errors.

Contact the Hospital

The next step in the process is contacting the hospital directly to discuss your bills. As long as your bills haven’t been sent to collections, you might be able to negotiate new terms with the hospital’s billing department. 

Most hospitals want to retain the debt so that they profit from it, and they could help you come up with a more affordable payment plan that doesn’t destroy your finances.

Apply for a Medical Credit Card

Acquiring a medical credit card is another option that you should consider if you can’t negotiate with the hospital. Medical credit cards tend to have very low interest rates and much lower requirements for applying. 

Some medical credit cards even offer zero percent APR for upwards of two years, and that will give you plenty of time to focus on your finances and rebuild your credit.

Consider Bankruptcy

While these other options can be very useful for some patients, there may come a point when it is time to consider bankruptcy. Filing for bankruptcy will allow you to restructure your debt or even wipe it out entirely, and that process should be off your record in a matter of years. 

To read more about your bankruptcy options, you should head to a reputable legal site that will allow you to learn about the pros and cons of each chapter of bankruptcy.

Ongoing debt can become a life-altering burden, and that is why many people will ignore it for years as it spirals out of control. If you have been struggling with medical debt, then it is time to come up with a long-term plan for getting out of debt and rebuilding your finances.

Five Tips for Fighting an Unfair Hospital Bill

If you are faced with an overwhelming hospital bill, it can feel like the world is crashing down upon you. It is not uncommon for people without (and sometimes even with) health insurance to be beset by hospital bills in the tens and hundreds of thousands of dollars. Fortunately, there are steps you can take to get out from under this mountain of hospital debt. Here is a look at five tips for fighting an unfair hospital bill.

Negotiate

Hospitals do not all charge the same rates, and the ones that overcharge have a lot of room to lower your unfair hospital bill and still make a profit. If you feel like your bill is too high, talk with the hospital’s accounting department to get it lowered.

Review the Bill Thoroughly

Unfortunately, it is not uncommon for hospitals to make mistakes on the bills they send customers. The sad thing is that most of these mistakes tend to be in benefit of the hospital rather than the patient. To prevent yourself from falling victim to these mistakes, you need to go over every bill you receive from the hospital with a fine tooth comb. Double and triple check the bills to make sure you are not being overcharged, or charged for services you did not receive.

Appeal the Insurer’s Decision

You may sometimes come across a portion of your bill that you are being charged for that you feel should be covered by your health insurance. If this is the case, do not hesitate to contact your insurer to appeal the decision. This will not always work, but it can be a way to remove some of the charges from your bill if there happens to be a mistake or miscalculation.

Get Help from Professionals

If you are feeling overwhelmed by your large hospital bill, you can seek professional help to get it lowered. Professional patient advocates can help people who are facing unfair hospital bills to get them lowered to a more reasonable amount. This kind of help often comes in handy when you are still dealing with an illness or recovering from a surgery. If you don’t have the strength or ability to fight the unfair bill on your own, an advocate can step in and do a lot of the leg work for you. 

Ask for Financial Assistance from the Hospital

Many hospitals are willing to provide patients who are struggling financially with help. However, you may have to apply for Medicare first and get denied before the hospital will give it to you. It is well worth this to get financial help from the hospital to lower your bill—especially if the amount is overwhelmingly high.

An unfair hospital bill may feel insurmountable, but there is always a way to handle it. According to the personal injury lawyers in Halifax at the Cantini Law Group, you won’t always win the battle when fighting an unfair hospital bill, but it is always worth it to ask. Try a few tactics to see if the hospital is willing to work with you, and then seek professional help. If these methods don’t work, you might need to reach out to another financial institution to get the bill paid in a timely and manageable manner.