How to Negotiate Medical Bills?
We’ve all been there – you finally receive the dreaded medical bill in the mail for the treatments received during that dire time. Look, we should be able to receive medical care without it breaking the bank. We’re here to discuss ways on how you can ultimately lower the amount you owe!
This post is about how to negotiate medical bills.
Let’s dive into the top 5 ways on how to negotiate medical bills.
1. Review Your Bills
Review, review, review! Always when it comes to your money! It’s so important to review the bill to make sure you’re being charged correctly (this applies to restaurants, grocery stores, anywhere you’re being charged money!) In this case, reviewing your medical bills to ensure you actually received the treatments and medications they’re billing you for. If not provided, request an itemized bill. There’s a lot going on, so there could be mistakes where they’re double charging you.
2. Check Your Explanation of Benefits (EOB) with Insurance
If you have insurance, check your insurance’s Explanation of Benefits to make sure the proper coverage kicked in. If you have any questions, feel free to contact your insurance and go through the bill line by line. There could be discrepancies related to the insurance coverage and charging.
3. Contact the Billing Department
Bills can be very confusing. That’s why it’s highly advised to contact the billing department where you received the treatments.
4. Negotiate with Healthcare Provider
More often than not, you’ll find that the healthcare provider is actually quite open to working with you on the payments. A few things to keep in mind at this step:
Discounts for paying in full
If you’re in the financial position to do so, ask about any discounts available for paying in full. Or even the type of payment could play a part in this. A lot of companies don’t prefer credit card payments due to the high fees, so ask if there’s a discount for paying in cash/debit card!
Payment Plan
Payment plans can be helpful, especially when the bill is quite high. This step is helpful, because instead of footing a several thousand dollar payment at once, you could request a payment plan in which you’ll be paying in more palatable bites. Even more helpful is that, sometimes, they offer interest-free payment plans! Which means, it would literally cost you the same amount if you paid through payment plan (small, bite-sized) vs paying in full.
Requesting assistance based on financial hardships
Expressing financial hardships could help with the payment options provided to you. Perhaps they’ll provide a discount, so that you are able to pay off the debt, even if it’s less than the original amount. Remember, they are a business and it’s better to get some of the money than none!
5. Be Polite and Persistent
Remember, the person you’re speaking with on the other side of the phone is a human being, too! Would you respond positively with someone shouting and yelling at you? Probably not. I’ve found that when you level with them in a polite, but persistent manner, they’re more likely to meet you in the middle!
To reiterate, the to 5 ways on how to negotiate medical bills are:
- Review Your Bills
- Check your Explanation of Benefits (EOB) with Insurance
- Contact the Billing Department
- Negotiate with the Healthcare Provider
- Be Polite and Persistent
There you have it! Interested in learning more about managing debt? Check this post out for how to pay off medical bills.
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