Many people have been faced with an unexpected illness at one point in their lives. If that illness required surgery and or prolonged time away from work, the debt accrued can be considerable. For those people, it becomes a matter of figuring out the best way to pay those bills back on an extended timeline. In America, the amount of money credit companies are seeking that traces back to medical bills is surprisingly high. In fact, one-third of the total amount sought by credit companies is related to medical bills left unpaid.
Some people are curious about the possibility of negotiating medical bills, so their ultimate amount due is more manageable. It is also a common scenario to think you have it under control and suddenly find out you are about to have the bills sent to credit agencies and have a bad credit report. When considering the route of negotiation, it is important to remember the following ideas in order to be successful and avoid those bad credit reports.
Keep Track of Conversations
For those who are attempting to work out agreements and payment plans, it pays to know who you talked to, where they were in the billing chain and when you had the conversation. Keeping track of names and reference numbers can save you time, since you can ask to talk to the same person again the next time you are forced to call, or you can let the person you are talking to know you already discussed this with another individual at the company, and you are trying to get to the next step of handling your bills.
Be Prepared/Do Your Research
Read through your policy carefully and be aware of what is and is not covered. Likewise, before a procedure is done (provided it is not an emergency situation), look into the cost of the procedure at various local facilities in order to determine the best place to go for that procedure. It is also important to look at the billing as the statement comes in, and for any aspect of the medical bills that should have been covered and was not, it pays to call and bring that to the attention of your insurance company.
Consider All Available Options
If you have some funds at your disposal, consider asking your hospital about discounts for paying in full within a certain amount of time following the procedure. This can drastically reduce the amount you are required to pay. It also pays to ask about financial assistance if you do not have much money at your disposal and if you are a lower-income family.
If you have done all of the above and are still drowning in medical debt, do not hesitate to call a professional. The attorneys at SM Law Group, are well-versed in handling medical bills and negotiating for the lowest payments and shortest plans to help you get the debt paid and get on with your life. For the times you can not see how the debt will ever be paid, call for a consultation with those who have experience in handling situations like yours.