How to Pay Off Medical Bills

It’s hard to anticipate an emergency. Sometimes things happen that are out of our control and while we’re thankful for medical care, the resulting debt can be crippling. Medical debts are devastating for many Americans, and as such, it’s a challenge to pay them off. 

If you have recently come into significant medical debt, take the steps needed to pay off your medical bills more easily.

Determine How Much You Owe

If you have had to visit the hospital or you’ve incurred a significant number of bills, you need to examine the cost. It’s common for medical bills to be inaccurate, so look through the items listed in your bill. If you see charges that don’t make sense, dispute them. 

If your doctor’s billing department has not provided an itemized bill that lists everything you’re being charged for, request one. Once you have it, you can inspect the bill. Careful inspection can help determine what you actually owe. 

This part of the process may be irritating, but if you find inaccuracies, you need to report them to your doctor’s billing department. Have a representative go over your charges with you. When you correct inaccurate charges, you’re likely to save yourself money on your bills.

Do Not Let Medical Bills Go To Collections

Once you have determined what you truly owe, it’s important to make some sort of payment. Avoid letting your bills go to collections. Not only will that impact your credit report, but it may also expose you to annoying collection calls. 

Even if you can’t afford to pay for all the charges, do not ignore your medical bills. Most of the time, working with your doctor’s billing department is easier than trying to make payments to debt collectors.

Often, as long as you’re attempting to pay down your charges, your account won’t go to collections.

Try To Develop a Payment Plan

It’s common to be unable to pay off a large medical bill in a single payment. In these situations, it’s in your best interest to see what payment options you have. Many medical offices offer payment plans for larger bills, some of which are interest free. Be sure to ask about the interest-free option when discussing your bill. 

If possible, set up a monthly payment amount with your doctor’s billing department. If the billing department presents you with a monthly payment that’s too high, ask for a lower sum. If you set up a plan you can afford, you might still save money on your bill.

Financial Assistance Options

It’s worth noting that some medical offices offer financial assistance programs. While it may seem shameful, financial assistance was designed to help people that struggle to cover medical expenses. Plenty of people fall into this category, being that medical care is outrageously expensive.

If you have the choice, apply for financial assistance to avoid further debt.

Pay Off Medical Bills with a Loan

If you’re trying to avoid collections agencies, you may be tempted to pay your medical bills with your credit card. While it may seem like a viable option, it’s inadvisable to take this route. Credit cards usually have high-interest rates, so you may end up paying more long-term than you would with a payment plan. 

Some individuals struggle to pay their current bills but expect financial stability shortly. In these cases, the debtor may consider applying for a low-interest loan to bide them some time. Like credit card solutions, this option should be a last resort. Most of the time, it’s more reasonable to stay with your current payment plan. 

If You Can’t Avoid Collections

Sometimes situations occur where individuals are completely unable to pay for medical expenses. For example, if you’ve recently lost your job or sustained a debilitating injury, you may be struggling financially. When your income becomes so tight that you have to prioritize spending, paying medical bills can end up low on the list. 

In situations where you cannot pay your medical bills, and they end up going to collections, there are still ways that you can manage your debts. Try to pay at least some small amount of the debt. You may also try discussing payoff deals with the agency.

Be aware of what debt collectors can and can’t do. Whether or not you’re able to make payments, a debt collector is not allowed to threaten or harass you. If you find that you’re being harassed, report the behavior to the Consumer Financial Protection Bureau.

Medical debt can be a troublesome burden to wade through, but it’s possible to get through the struggles without ruining your credit. The stress of medical debt affects many American families, so you aren’t alone. Fortunately, there are steps you can take to manage your bills.