The human body is unpredictable. No matter how much you take care of yourself, something or another is bound to go astray and you end up visiting hospitals. you may cut your finger in the kitchen, or somehow pull your muscles during exercise and you need physical therapy now. Hospital visits are nowhere cheap. Even if you have a well-established income, you are at risk of falling into a medical debt trap.
Medical bills can be a burden on your salary. Therefore, to stay safe, always have good health insurance.
Secondly, you need to be prepared for medical emergencies financially. When the medical bill goes beyond your expectation, you might be in trouble. Here are four solutions to your medical debt problems that can help you in times of stress.
1. Have an insurance
Most of the healthcare providers cover a major portion of the medical bill. Make sure that you sign for good healthcare insurance. When agreeing, read all the clauses and make sure that the insurance you are signing up for has more advantages for you, especially during emergencies.
While health insurance may cover most of your medical debt, you should be prepared otherwise. There might be a chance that your provider denies insurance, or rejects your claim. Under such circumstances, make sure that you keep the phone call records safe. You can draw a lawsuit if your insurance company denies your legitimate claim.
2. Negotiate your bill
If you do not have health care insurance or your claim has been denied by your insurance company, your second resort should be a negotiation. If you know the doctor personally, you can always negotiate directly to reduce your medical bill. The doctor may reduce his charges, or the hospital can give up a few hidden charges.
For negotiation, you will need to speak directly with the billing officer, who has the authority to reduce bills. If you have a physical disability, some hospitals provide assistance programs. You can apply for one such program that will reduce your medical debt significantly.
3. Hire an advocate
If you do not understand the system yourself, it would be wise that you hire a medical billing advocate or a patient advocate. These are the people who understand the whole hospital system and its billing procedures. An advocate will help you understand the process, and may help you find some loopholes and hidden plans that hospitals offer for people who are not able to pay their medical debt.
Advocates usually charge fees, but if you find someone who puts your interest first, you may save hundreds and even thousands of dollars on medical debt. If any of your close relatives know hospitals and their procedures, you can ask for their assistance. If you can not afford an advocate, look for a church or non-profit organization that provides such services free of charge.
4. Look for debt relief programs
Lastly, when all others fail, look for debt relief programs. There are many government-funded and private debt relief programs that can help you solve your debt problems. A debt relief program can write off large percentages of your debt, thus helping you in critical times.
When you sign up for one such program, look for the one that allows easy monthly repayment installment plans. In Canada, there are many organizations and insolvency firms that provide you relief from your debt problems. Find out more information about debt relief in Canada and make your debt go away.