Tag Archives: MedicalBills

6 Tips for Avoiding Medical Debt

Medical debt is a huge issue in the United States. In fact, it is the number one cause of personal bankruptcy in the country. While in many cases these expenses are unavoidable, there are a few steps you can take to protect yourself from massive medical bills. Here are a few ideas for keeping your head above water. 6 Tips for Avoiding Medical Debt. Do your homework on your insurance: The easiest way to get saddled with huge debt is to go without insurance or visit doctors out of your network. Understand exactly what your insurance covers. Make sure you get your money’s worth out of your plan. Beware the hidden costs of treatment: Before you sign up for any medical treatment, make sure you are aware of all the costs and what your insurance might not cover. Unfortunately, these days it is common for hospitals to use out-of-network doctors….
Read More »

Posted in Personal Finance | Tagged | Leave a comment

Can I Discharge Medical Bills in Chapter 7 Bankruptcy?

The cost of healthcare is outrageous these days, meaning that more and more Americans are becoming saddled with unbelievably high medical bills. These huge debts are also driving more people to search for relief. Relief Options for Medical Debt There are a few ways that you can go about trying to take care of large medical debts, such as: Settlements – Medical providers are often snubbed when it comes time to pay the bill, meaning that they may be reasonably open to negotiating a settlement deal with you. Talk to your provider about lowering your owed amounts, perhaps even drastically. Affordable Care Act – The Affordable Care Act requires non-profit hospitals that get federal aid, which is many of them, to be more agreeable when they put together the bill. The IRS has proposed that hospitals provide free or low-cost healthcare to low-income people, which you may qualify for. Hospital…
Read More »

Posted in Bankruptcy | Tagged , | Leave a comment

Stop the Bleeding: How to Manage High Medical Expenses Debt

Medical bills can be outrageously expensive and for those that don’t have the kind of insurance that takes care of it, medical expenses debt can be crippling. Staying on top of a medical bill in the hundreds of thousands is an endeavor that could intimidate anyone. Patients and family members have been forced to rack up thousands in credit card debt, cash in early on retirement funds, and some even lose their homes while trying to keep up with medical bills. Back in 2007, the Commonwealth Fund published a study that revealed more than 79 million Americans were struggling to pay their medical bills. Following the 2008 recession, you can only imagine that number has grown. The biggest reason that so many people are buried in medical debts is because of the continually rising cost of healthcare. What Can You Do About Crippling Medical Debts? Many people eventually file bankruptcy,…
Read More »

Posted in Bankruptcy | Tagged | Leave a comment