Since September 2013, the highest number of complaints at the CFPB (Consumer Financial Protection Bureau) was related to abusive debt collection. Outnumbering all other forms of debt, medical collections constituted approximately 52% of all collection accounts on the credit reports. Today, medical debts are so common. Approximately 43 million consumers suffer from problems related to medical debts.
With a few strategies, you can surely be able to keep your medical debt under control. The following are ideas to help you enjoy a medical debt free life:
Review bills carefully
This should not be a onetime thing. You should always review every medical document carefully. If you cannot account for or recognize a bill, check and verify the date of service to see if you received any treatment on that specific date. Always request your health provider to provide an itemized bill so that you can check how much you are being charged for a service. This will surely help you account for all your medical bills and take appropriate measures where needed.
Get proper documentation
Keep and organize proper records of each and every bill. Once you come across an incorrect bill and/or dispute, be sure to send a written notice to your medical provider. When sending the written notice, remember to attach the copies of all important or relevant documents such as credit card statements or treatment records. Remember that you are not supposed to send original documents, only photocopies.
Thoroughly go through and study your health insurance policy
Ensure that the health provider has access to your insurance information. Additionally, be aware of everything your insurance covers and what it does not. Always keep your insurance information precise and updated. Any slight mess can land you in trouble. It can cause you to spend hundreds if not thousands of dollars that should have been covered by your insurance. You do not have to be in debt because of mistakes which you could have avoided.
Dispute the bills first if need be
Whenever you find an erroneous bill, you should always dispute it first. Nevertheless, if you can sufficiently verify a bill, the prudent thing would be to resolve it immediately. Moreover, check whether your insurer is paying all or just part of the bill. Delays can casue the bill to end up in collections. This can terribly hurt your credit score, which is the last thing you want.
Be a good negotiator
Today, most hospitals usually welcome payment negotiation. Actually, some hospitals can reduce your tab if you cooperate and agree to pay an entire amount upfront. Others help you come up with an affordable payment plan so that you can have an easy time paying your bills. The affordable installments will never hurt your financial life. Feel free to ask or negotiate – you never pay to ask right?
In case you are in any kind of debt, there is doubt that national debt relief can help you recover.