DEALING WITH MEDICAL BILLS

Did you know that medical bills are one of the top causes for people filing bankruptcy. Individuals that have health insurance coverage can still be faced with expensive medical bills calling for out-of-pocket payments as a result of not all doctors accepting all insurance plans and/or insurance companies not covering every medical procedure. If you find yourself owing a hospital or doctor, try and set-up a payment plan with them to avoid having to pay the total balance in one lump sum.

If you do not pay your medical bills, these outstanding debts are going to be handed over a debt collector that will flex some muscle and get you to pay, or report this negative activity to the credit bureaus. As soon as a debt collection is reflective on your credit report, it is going to be present there for seven years, even after you are able to pay that debt off.

It is also possible to be sued by a hospital or debt collector for unpaid medical bills. If a lawsuit is bought against you, and you lose, you will be ordered by the courts to pay these medical bills, likely via garnishment of your wages.

If you are having problems paying your medical bills, you can attempt to get help from one of the available resources listed below.

Apply for a Personal Loan
We have a variety of unsecured loan programs that are designed to help individuals get rid of their debt, including loans for paying medical bills. We will provide with you enough financing so that you can pay off all your debts at one time. Or you can APPLY NOW!

Payment Plans
It is very common for the billing department of a hospital to create a payment plan for your unpaid medical bills. Therefore it is important that you communicate with them and let them know that you are having issues. Don't just ignore the bills and run the risk of having these unpaid debts fall into collection, or even worse having a lawsuit bought against you.

You should also ask the billing hospital if they have any sort of income-based forgiveness programs that allow some or all of your medical debt to be eliminated as a result of you not being able to pay.

Medicare or Medicaid
Even if you are not enrolled in either of these two government offered health insurance programs at the time of service, you still may be able to utilize them for your debt. If you are qualified for either, you have to submit your request to enroll within three months from the date when the medical service was received. If you are successful, you can have all of or most of those debts paid by the government. 

Eligibility for Medicaid coverage is based on the needs of each applying individual. You can obtain more information regarding requirements for eligibility from your state's health department.

You qualify for Medicaid as long as you are eligible to receive or already receive railroad benefits or social security. You are also entitled to Medicaid coverage if you received Medicare coverage while being employed by the government.

Charity Programs
Organizations like Benefits Checkup will help you locate charity groups that are set-up specifically to help people that are having problems paying their medical bills.

Using a Credit Card for Payments
If you have enough credit using a credit card is not a bad idea. Paying with a credit card will get the hospital off your back and give you the option of paying what you want every month (as long as you are satisfying the monthly minimum requirement). But, note that you are going to be paying more in the long-run as a result of having to pay the interest charges. Learn more about using credit cards wisely.

Related Reading:
Effective Bill Management
How Not to Pay Your Bills
Organizing Bills
Negotiate Medical Bills
 


 


 

 


 

 

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