Little Ways to Save Big on Medical Bills
Times are lean. Despite having a new and exciting Presidency looming, our country is still in the throes of a great financial crisis, and more than ever, people are struggling to pay the bills. If you have medical bills piling up and don’t think you can get out from under them, do not despair.
The following article is intended to help you figure out the best ways to help save money on medical bills. A word to the wise: Letting the bills pile up unopened is a sure-fire bet for disaster. Take a deep breath, get out the letter opener, and get ready to take control.
Hold Your Health Insurance Accountable
Because you’re no insurance expert, you may just grit your teeth and bear it when you get a medical bill that you thought your insurance was supposed to cover. You figure they know what they’re doing and probably paid the full amount they could. WRONG. Don’t assume that you are being given a fair deal when it comes to coverage through your health insurance. This isn’t to suggest that they are trying to swindle you, but a good rule to dealing with medical bill charges is to question everything.
If you get a letter or bill stating that your claim with your insurance company has been denied, hop on the horn and demand to know why. If you don’t agree with their decision, contest it in your plan’s internal appeals. If that doesn’t come through for you and you firmly believe the charges should be covered, take it a step higher and approach the state health department or Attorney General’s office. Don’t go down without a fight.
Look to the Government for Health Coverage
This doesn’t mean standing wistfully in front of your local government building, hat or hand outstretched with pleading eyes. The government might actually offer great plans that you and your family could quality for based on income level and family size, and this could help any future medical bills and possibly some retroactive ones as well.
Plans like Medicaid or the State Children’s Health Insurance Program vary by state, but some states cover children in families with income up to 300 percent of the poverty level, or more than $63,000 for a family of four. If you had bills stacking up prior to your enrollment, you might be able to receive help in either paying for them at all or getting reimbursed for charges paid.
Play Hardball with Your Insurance Provider
Similar to the first point addressed in this article, do not be shy about asking for what you need. If you want a payment plan for a big medical bill, ask your health insurance company. If you feel you deserve a hospital discount, ask for it. Just by simply asking for what you need and want could help reduce your bills by 40% and maybe eliminate them entirely.
Although many charity care and other assistance programs are income-based, providers also offer discounts to patients who have means but are facing hefty bills for expensive treatment. Now is not the time to be shy. Would you rather gather some courage and ask for what you need, or sit there staring glumly at a bill you know you can’t pay? It seems like an easy choice to me.
Prompt Payment: Friend or Foe?
If you have the money to pay your bill at the time of service, by all means do so. However, that means money in hand and in the bank. You can save as much as 30% on your bill by paying immediately, but exercise caution plunking a large amount down on a credit card. You may appear to be saving money up front, but if it will take you a while to pay off the balance, you will end up paying much more due to interest feed compounding on your credit card.
No matter what amount you are facing or how dire the situation seems, please, open and address those bills. If you or a loved one is battling an illness or trying to recover from a surgery, the last thing you want to worry about is creditors knocking at your door.
photo credit: TheTruthAbout…
Tags: cutting costs, health bills, health insurance, saving on health
December 28th, 2008 at 4:34 am
The best way to save on medical bills is to know the cost of of the providers services before you go. This is referred to as Consumer Guided Health Care. You can find out what your doctor or hospital charges before you go. Basically you’re shop for services just as you would shop for groceries. You can find out more information on this topic at http://www.selfemployedhealthbenefits.net
Don McGuinn
Palatine, IL 60074