1. Bargain like your life depends on it, which for all intents and purposes it does. Regardless of the way they are negatively portrayed, doctors and hospitals are actually open to negotiation particularly if your circumstances are dire. If you have a scheduled surgery for example, contact the billing department immediately and ask for a discount. Studies showed that hospitals are willing to reduce medical costs by as much as 70% if you pay in cash.
2. If no discounts are available, ask for an affordable payment plan instead. You may risk paying interest under this scheme. Remember, do not promise something you can’t fulfill later on. So the monthly amortization should be realistic accounting for your monthly income and expenses. Now, if you run into an unexpected problem (like unemployment perhaps), contact the medical provider immediately.
3. Seek assistance from charitable institutions to settle medical bill debt. One should be available through your hospital. These could be religious, civic institutions or a separate program of the hospital itself. Understand though that you’re up for some stiff competition to obtain some of the meager resources so you have to be prepared to lose out to others who are in more dismal state than you.
4. Check your bill for errors in postings. If you don’t know how seek expert advice. Your insurance company would only be willing to help you make sense of all the medical terminologies and abbreviations. If you don’t have insurance then there are credit management companies that may bill their services as a percentage of the savings they help you get as a result of their intervention.
5. Study your insurance policy. Understand the terms deductibles, cost-sharing, lifetime caps, co-pays and co-insurances. Have your insurance company or your own employer explain to you what the covered services are so you will not be taken by surprise when you do receive your bill and your request for reimbursement will be denied.
6. Research. Don’t just go to any doctor or hospitals if you have a scheduled medical procedure. Call around and compare prices just so you know what to expect when you come in. Ask if they have some payment plan available or a charity program that you can apply for.
7. Seek non-profit groups and ask for credit counselors who may be able to help you manage your medical bill debt. These counselors are only too willing to help you make sense of your bills and draft a bargaining letter to be sent to the hospital’s billing department if necessary. They can also help you make a monthly budget to cope with the difficult times ahead.