An unexpected medical emergency might crop up any time and cost you a bomb. With rising health care expenses, medical emergencies are giving consumers a real shock. Even with health insurances in their names, consumers land up owing huge medical debts that seem tough to meet. However, resorting to a little tactful way of handling medical debts can help deal with your medical obligations better.
Here is what you can do to manage your huge medical bills:
· Review your medical bills
Medical bills are often significantly erroneous. You can be overcharged for the medical services or even charged for treatments you did not receive at all. So, it is important that you review each and every medical bill you receive. If you come across any discrepancy, you should contact the hospital or medical facility right away and get your bills corrected. You can also negotiate you medical bills and health care services. With effective negotiation you at least save a few dollars.
· Go for settlement of your medical bills
Medical bill settlement is similar to a normal debt settlement that you do with commercial creditors. Many hospitals and medical service providers forgive a substantial portion of your medical debts if you are financially strapped and cannot meet your obligations. To get your bills settled, you need to contact the hospital authority as soon as possible and let them know about your poor financial situation so your settlement application is approved. But remember, the authority will take a thorough look into your financial situation before they approve your application.
· Get in touch with your insurance company
Contact your insurance company to verify the portions of the medical bill that your health insurance plan is supposed to cover. The insurance company will decide if you are inappropriately charged for treatments, or if the bill was submitted on time. If required "push" the insurance company to expedite your bill payments.
· Request for bill payment in installments
Most of the hospitals, medical providers and doctors’ organizations will offer custom tailored payment plans to suit your requirements. These plans help you pay a minimal monthly payment on your bill with little or no interest. So, do look for such options. If you are being unable to make your payments, then you can request that hospital authority or the medical service provider to offer you such repayment plans that will help you pay your bills in installments. Most hospitals have an office of patient finance where you can visit and discuss your medical bill payment.
· Seek low priced or free health coverage for kids
Almost every state offers medical programs that provide low cost or free health coverage for children, who belong to families with a low income level. If you are experiencing acute financial crisis, then you can enroll for such assistance programs to lower your medical debts.
· Reduce your medical costs with discounted drugs
There are several ways to reduce medical costs. Many government programs offer free discount cards that can help you save up to 50% on generic drugs. Low cost generic drugs can be a good alternative to expensive branded drugs. You can also seek for assistance programs that offer free medication.
Medical care is an important part of our lives. It is difficult to say when you might find yourself or your loved ones in some urgent need for expensive medical attention. But some smart moves on your part can actually help you clear your medical obligations easily and restore the smiles on the faces of your loves ones.