Mounting Medical Bills? 4 Tricks to Getting Them under Control
The high costs of medical bills make them a huge source of stress, and they’re a common reason for people to go bankrupt. Your medical bills don’t need to ruin your finances, though. Here are a few tricks that can help you pay them off.
File an Insurance Claim
The first thing to do for medical expenses is to see if any of them should be covered by an insurance company. For example, if your injury occurred on someone else’s property, then the responsibility of paying your medical expenses would typically fall on the owner and their liability insurance. You need to file a claim with the insurance company to receive reimbursement for your medical expenses.
Negotiate with the Medical Facility
Many people don’t realize that it’s possible to negotiate with a medical facility instead of just paying the bill. If you talk to the billing department, you could settle your bill for a smaller amount or at least arrange a payment plan, allowing you to pay your bills off in smaller amounts instead of all at once.
Get in Touch with a Personal Injury Attorney
Patient at hospital
Let’s say that your injury is someone else’s fault, but they either don’t have insurance, or their insurance company isn’t working with you.
In this situation, you should definitely talk with a personal injury attorney like Loughlin Fitzgerald P C or someone similar to see what your options are. An attorney can put more pressure on the liable party and the insurance company, and if necessary, an attorney can also file a lawsuit and represent you in court.
Pay for Your Bills with a Low-Interest Loan or Credit Card
If you need to pay off your medical bills quickly and you can’t set up a payment plan, then you should look into financing options. Loans and credit cards with low interest rates can both work well here, provided you have a good credit score.
The best choice, if you can qualify, is a 0-percent annual percentage rate (APR) credit card, where you’ll pay absolutely nothing in interest if you get the balance paid off before the introductory period ends. Introductory periods typically last anywhere from six to 18 months.
It’s never easy when you have unpaid medical bills to worry about, but there are always options available. See which of the four tricks above fit your situation best to avoid these bills becoming a more serious problem.
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Category: Health
