How to Get Financial Assistance for Medical Expenses
This is how you can reduce your medical debt and pay off unpaid hospital bills.
Talk about trauma. Trauma is the most severe complication following a frightening or painful medical procedure.
Maureen Lamb is the founder and CEO of Medical Bill Support. She believes unexpectedly high medical costs can lead to financial loss and stress.
She provides advice to patients on ways to reduce their medical expenses. She believes that this stress could be due to confusion surrounding billing for coronavirus testing.
According to Kaiser Family Foundation polling results, 25% of Americans have had difficulty paying their medical bills in the last year. Half of the respondents said that medical bills had had a significant effect on their families. Many people are still unable to work because of the coronavirus epidemic. Therefore, concerns about future medical costs will continue in 2020.
But don’t despair. When it comes to paying off medical debt, there are many options for consumers of health care. These are the facts that you should know if your medical debt is not paid.
- Find out what happens to unpaid bills.
- Check your medical bills for errors.
- Negotiate medical bills.
- Assistance with your medical bills
- You might think about filing bankruptcy to pay your medical bills.
- Learn how to eliminate medical debts from the coronavirus epidemic.
The hospital/healthcare center will most likely sell unpaid bills to an agency after a period of nonpayment. The agency will try to recover its debt investment.
It depends on where you live and what services you have received. Also, how long does it take for the collection process to be completed? If the debt isn’t paid, it can cause you problems for many years. Collectors will contact you to request repayment.
Your credit score can be affected by a bill in collections. For up to seven years, collections listings will be on your FICO credit file.
Experts agree that it is impossible to make your medical bills or other debts disappear if you don’t pay attention. Amy Loftsgordon says that neglecting to pay your bills can result in a lawsuit from a collector or creditor.
Nolo is a publisher and distributor of legal books and other software. It provides advice on debt management, collection, and foreclosure. The court will likely issue a default judgment to the creditor if you ignore the suit. This is an automatic win.
While it’s not a good idea for debt collectors to collect your medical bills, you must remember your rights. They can’t harass, lie to, threaten, deport, deport, or deport you or call you at night.
If you’re honest about your debt, they won’t harass you, intimidate, deport or threaten you. To negotiate a fair repayment plan or reduce the amount owed, you can contact collection agencies.
Check your medical bills for errors.
Verify that the hospital invoice is correct. Request an itemized statement. Request itemized information. Your doctor may place your account on hold for as long as 30 days.
This allows you to review the bill and make any phone calls. This will stop your debt from being sent to collection. Lamb suggests telling your insurance company, “I’m still waiting on my insurance.” I need your help to appeal a not-paid bill. I do not want the account sent for collection.
If you are not satisfied with your insurance coverage, call your company. Compare your itemized bill and explanation of benefits statements to make sure it covers everything.
Lamb suggests that you speak to an insurance agent to understand the terminology. She said that representatives might explain to customers how much they have paid according to their code.
Checking your medical records can help you verify the accuracy and legitimacy of the bill. You will most likely need to pay a fee to get medical records forms. Each state has a different cost for medical records forms.
You can report disputes to your insurance provider. Common errors in medical billing are: When billing medical services, double billing is shared.
Multiple charges can be issued for the same procedure or item. Routine supplies may also be subject to charges. These should not be added to the bill. A patient advocate can help you if you have difficulty understanding the process. A fee for a medical billing advocate is either an hourly rate or a percentage of your savings.
It is possible to negotiate medical bills.
Contact the hospital’s billing department or the collector. If you are in collections, talk to the billing department. Talk to your bank about the options available and how you can work out a payment plan.
Your bank will help you explain your situation and negotiate a reduction in your monthly payments. Lamb recommends asking for a zero-interest payment plan.
Lamb says, “I recommend you work with the billing office to create payment plans.” You may be eligible to receive a discount if you’re willing to pay in cash.
Ask your doctor if it is possible to pay the insurance rates. Ask your doctor whether your procedure is not covered by insurance. Sometimes, this can be lower than individual charges.
Take good notes. When calling any debt collectors or billing agents by phone, make sure to take detailed notes. Notify all call reference numbers. Lamb recommends being polite and respectful to customer service representatives. They will be more likely to cooperate if you don’t shout at them.
A patient advocate can help you. Lamb, a patient advocate, will help you contact your insurance company or billing office by signing authorization forms.
Assistance with your medical bills
Federal law mandates that all non-profit hospitals offer financial assistance to qualified low-income patients who cannot pay their medical bills.
It is crucial to verify that the hospital where you are receiving treatment is not a profit. Must show proof of income to be eligible.
All documentation required includes pay stubs and tax returns. Lamb stated that eligible patients would be able to get partial or complete write-offs of their bills. This could help you get rid of some medical bills.
These programs can be offered by hospitals either voluntarily or as required by law. April Kuehnhoff is a staff attorney at Boston’s National Consumer Law Center.
Experts recommend that you request for financial aid even though you’re unsure whether your application will be approved. These plans may be on a sliding-scale basis, so you could still qualify for 20% off your medical bills.
To pay your medical bills, you might think about filing for bankruptcy
Experts recommend that bankruptcy is not the best option for medical debt. This could negatively impact your credit score, making it more challenging to obtain consumer debt in the future.
Your FICO credit score can be affected by a bankruptcy filing for up to ten years. Loftsgordon states: “If you are unsure whether to file bankruptcy or settle your debts, it’s a good idea to talk to a bankruptcy lawyer.”
Understanding Medical Debt Relief During the Coronavirus Pandemic
Certain states and the federal government have taken steps to address the financial- and medical crises resulting from the COVID-19 pandemic.
Loftsgordon cites Colorado as an example. Colorado state politicians have stopped using “extraordinary collections actions,” such as account seizures and wage garnishment. To receive COVID-19-related relief, you will need to tell the creditor about your difficulties.
Federal law also requires comprehensive health insurance plans to be available to cover cost-sharing for certain COVID-19-related services such as testing. Jenifer Bosco works as a staff lawyer at The National Consumer Law Center.
Jenifer Bosco stated, “Some states require extra coverage from insurance companies.” This map comes from The Commonwealth Fund. This map contains information about the individual actions of each state.
Medicaid may be an option. This insurance provides health insurance for those with low incomes. To determine if retroactive eligibility is possible, check the state rules.
These rules may allow you to extend Medicaid coverage beyond the 90-day mark. Bosco claimed that Massachusetts and other states made obtaining this coverage during the COVID-19 crisis.
This could enable you to be covered for medical expenses that were paid in the past three months.
Bosco recommends that you search the Internet to find your state’s consumer advocate to determine if they offer relief for COVID-related bills. You can search the internet to find information about your state’s options.