Just like everything else, medical expenses are rising. But unlike the money that you’ve budgeted for things like entertainment, you can’t just decide to not spend this money if you want to take care of yourself physically and mentally. So when you do see medical bills coming your way, be it for emergency medical care or the necessity of getting around-the-clock care at an assisted living facility, it’s important to know how to respond to these bills and what steps to take to settle them.
To help you in doing this, here are three things to do when your medical expenses spike.
Try Your Hand At Negotiations
Unlike many bills that you’ll get in your life, medical bills can often be negotiated. Especially if you have medical insurance that your bills are going through, you may be able to work through your insurance to get charged less for certain services.
Even when you get your medical bills after they have been processed through your insurance, you can still seek to negotiate even further. To do this, always ask for an itemized bill of whatever services or procedures you had done. From here, you can speak with the medical facility or provider to try to negotiate down on the costs. And because they would rather get paid something as opposed to nothing, they are often willing to negotiate, at least on some points.
Look For Financial Assistance Options
Once you feel like you’ve negotiated the bill to the best of your ability, you should then look for financial assistance in any place where you can get it.
For those who don’t make a lot of money as it is, seeking assistance from the government, non-profit organizations, and more could prove to be beneficial. While this can require you to put a lot of time and energy into filling out paperwork and taking phone calls, it could be well worth it if you’re able to get the financial assistance that you need.
Set Bills Up On Payment Plans
For the final amount that you’re responsible for with your medical expenses, you should then speak with who you owe the money to about setting up a payment plan.
With a payment plan, you can pay on the bill in monthly installments rather than having to pay the entire bill in one fell swoop. This can help to ease the financial burden while still getting you out from this medical debt. And since medical providers often will offer these kinds of payment plans with little to no interest required, this is a great option even for those who may not have a huge amount of other financial stress.
If you’ve seen your medical expenses spike and will soon have some large medical bills that you’re responsible for, consider using the tips mentioned above to help you learn what you can do to get on better financial footing here.