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Financial Planning: Ideas to Get Your Medical Bills in Order

Medical bills are a major issue for people all over the United States, and it isn’t just people who fall under the poverty line who are struggling to pay these expenses. After all, even people who are gainfully employed may find it difficult to pay for an extended stay in the hospital or an emergency surgery that could cost $25,000, $50,000 or even more.
However, medical bills don’t have to be a noose around your neck, and they don’t have to keep you up all night. There are ways you can begin to pay them off and get your finances under control.

Make Payment Arrangements

Medical BillsA lot of people with large medical bills feel like hospitals want a big check – a lump sum payment for what you owe them for services rendered. However, most hospitals are willing to negotiate with you in order to make payment arrangements that are affordable for you.
The reason hospitals are willing to work with most people is because in many more cases than you might think hospitals simply never get a payment at all! The hospital would rather you take two years or more to pay off your medical bills than not get any money back at all.
Don’t be afraid to speak to somebody in person to make an arrangement that works for your income level and budget.

Ask For Discounts

It might sound crazy to ask a hospital for a discount on your medical bills, but believe it or not, that’s exactly what many will offer if you’re willing to make a one-time payment. For example, if you owe $7,500 for medical bills, you may be able to work with the hospital to pay them a one-time payment of $4,000 to $5,000.
Most hospitals just want to recoup as much as they can, and since they often don’t get paid for services at all, many are willing to accept less than the bottom line on the bill they sent you.

Get Help

When it comes to paying your medical bills you aren’t all alone. In fact, there are a variety of different professional services that work with people to help them negotiate better payments or plans that an individual can afford. For example, Medical Billing Advocates of America may be able to help, and they’ve worked with many patients to set up payment plans when hospitals seem unwilling to negotiate discounts for fees that seem outrageous.

If you are a victim of some kind, medical malpractice lawyer McLaughlin & Lauricella, P.C. in Philadelphia suggests you look into what kind of legal action you might be able to make. Often you can avoid paying for treatment if you were in an accident or if the hospital made a mistake.

Get help when you need it and pay less in the long run when it comes to medical bills. You don’t have to be saddled with them for years. Take the initiative to find discounts and alternative payments. With a little extra financial planning you can take care of these bills in no time.

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