5 Resources for Help Paying Medical Bills

Posted by Sarah Jones on November 10th, 2020

Medical debt is the biggest concern in the U.S. Even the person who has an impressive health insurance policy isn’t immune to medical debts. This is because, when the medical bills are extreme, even the insurer refuses to offer the coverage. 

Although it isn’t clear how many people go bankrupt due to budget-breaking medical costs; it is quite clear that hospital bills are one of the reasons for thousands of yearly bankruptcy filings. 

So, what can an average person do to get rid of exceeding medical bills? Or how can someone get financial assistance for health care during COVID-19? 

Well, we have the answers to these questions. Let us take a look at a few resources that can help you to pay off your medical bills effectively. 

1 Payment Plan:

Almost all medical providers offer payment plans nowadays. So, whenever you opt for medical attention, be it at the physician, dentist, or even at the hospitals, make sure that you ask the billing department for payment plans. 

The department can recommend you with monthly installments on zero interests. Many healthcare centers even offer discounts on bulk payment, so ask for that too. Make sure that you read or gain knowledge of every terms and condition that come with the payment plans so that you do not end up getting in financial distress down the line. 

2 Medical Credit Cards:

If the medical provider you chose has no particular payment plan or discounts, then see if they can accept medical credit cards. These cards are specially designed for certain medical procedures, meaning the billing department may have applications ready. 

A normal medical credit card has a 12-month interest-free period. So, check your total expense and see if you would be able to clear the debt within the given period. If you are unable to do so, then avoid the medical credit card at all expenses because then you will be stuck with a more expensive bill. 

If you decide to go with a credit card, see to it that you know what the costs will be once the deferred interest rate gets added. 

3 Unsecured Credit Options:

You can opt for either:

• Personal Loans: You can opt for a medical loan for healthcare payments. This loan will consolidate all your expenses into one, aiding you to pay wisely with a planned procedure. This option is best if you have exhausted the previous option on the list. You can easily apply for an amount anywhere around 00 to ,000, making it best for expensive medical debts. 

• 0% Interest Credit Card: If you aren’t eligible for a medical credit card or the payment options, then a 0% interest credit card can aid you. But you will require excellent credit to be eligible. With this option, make sure that you pay off the amount within the promotional periods before the interest rate starts. 

4 Medical Bill Advocates:

If you have gone through months of medical procedure in the hospital, then the chances are high that you are suffocating in the ocean of medical bills. 

You can hire medical bill advocates like ClaimMedic. They will offer financial assistance for health care during COVID-19. Such firms have a team of advocates who are experts in dealing with medical bills. Plus, they also know how to understand the medical codes and explain it to you carefully. They can even spot potential errors in the bill and help you make a customized negotiation plan so that you can pay only what you are supposed to pay. 

In fact, medical bill advocates are the best option for people who have multiple unpaid medical debts. 

5 Government Assistance:

One another way to pay off your medical bills effectively is by opting for Government assistance. Programs like Medicaid and Children Health Insurance Programs (CHIP) is the best option for people who aren’t capable of affording health insurance. 

These programs are funded by the federal but administered by the state so the families that fall under a certain threshold can benefit from it. 

On the other hand, veterans, disabled people, or those that are 65 or above are eligible for Medicare program or Medicare through the Department of Veterans Affairs. The veterans can opt for the VA, and the disabled and senior citizens can opt for Medicare. 

Check Benefits.gov; it has a questionnaire that can help you to discover an appropriate program. 

Bottom Line

Medical bills can make an ill person more ill. And many times, it may feel like ignoring the bill too. But, keep in mind that ignoring the medical bill will not make it disappear; instead, it will make your problem even worse. Your credit score may be impacted; the debt collectors may start tailing you, and many more. 

So, use our tips to ensure that you pay off your medical bills without going through various stress.