Everyone with little to no health insurance knows how expensive medical bills can be. A simple medical test or operation can cost up to thousands of dollars, even with health insurance. While you can often pay off your medical bills in chunks on a monthly basis, the amount you have to pay can still be financially burdensome. Not everyone realizes all the other ways they can manage their medical bills. If your medical bills have brought you closer to Tennessee bankruptcy, then consider asking a Tennessee Bankruptcy Lawyer for help.
HOW TO MANAGE YOUR MEDICAL BILLS
There are common mistakes people make when trying to pay off their medical debt that result in further challenges down the line. One of the riskiest ways to pay off medical bills involves paying by credit card. After your medical debt shifts to a credit card, your medical debt turns into credit card debt and leaves you with fewer options.
Compared to credit card debt, hospital-based medical debt often has lower interest rates and more options to pay off the debt. Certain credit card companies may not let you have any financing options for paying off your remaining debt. This is why paying off your medical debt to the hospital directly is safer than transferring this debt to a credit card.
Be wary of what is called the chargemaster rate of your medical bill. Some medical professionals bill you a chargemaster rate that asks you to pay more than your health insurance has to pay. While this may not make sense at first, this happens quite often. All you have to do is ask the medical professional if the price can be lowered.
If you are still unable to manage your medical bills, feel free to ask your medical professional about charity care and other financial aid programs for medical debt.
CAN I NEGOTIATE LOWER MEDICAL BILLS?
This is one thing not everyone realizes they can do. Never let the hospital staff or your doctor intimidate you. As a patient paying for their services, you have the option to negotiate your medical bills. Some of the benefits of medical bill negotiations include:
- Lowering your monthly payment plan
- Lowering your overall medical debt
- Avoiding interest rates or lowering interest rates
Ask your doctor or hospital whether you can lower the total cost. You can also ask them the lowest monthly payment they would accept. Always ask about payment plans that do not require interest. As a patient, you have some wiggle room to bargain a better deal because the hospital prefers some money over no money. Feel free to contact a Tennessee lawyer for guidance when your medical debt has led to bankruptcy.
BANKRUPTCY LAWYER IN Chattanooga, TN
Consider looking at your financial options by contacting our lawyers in Tullahoma, Tennessee and North Georgia if you are falling into bankruptcy. We are prepared to help you. All you have to do is contact us at Tom Bible Law by dialing (423) 690-7712 to talk to a Chattanooga Bankruptcy Attorney for a free consultation today. Our legal team of Tennessee bankruptcy lawyers serves clients in Tennessee cities like Chattanooga and Tullahoma for years.