Avoiding Medical Bill Disasters
Worried that a health care-related bill could bankrupt you? You’re not alone, this is an increasingly common fear in these harsh economic times. And it is not just people without insurance who can become buried by medical bills.
CNNhealth.com has a just posted an article on “How to Prevent a Medical Bill Disaster.”
Some tips from that article, and a couple of my own:
- Don’t let your health insurance policy lapse if you can.
- If you are laid off this year, the U.S. government will pay 65% of your insurance tab if you keep the policy your got from your employer. Go here for details.
- Budget for health care. Figure out what your costs are likely to be, and set that money aside.
- Read your health insurance policy carefully. For more on that go here.
- Read up on your disability coverage too.
- Try to stay healthy.
- Appeal every claim that is denied by your insurance company.
- Negotiate if you get a huge bill. The article advises you “do this early.” I can’t emphasize that enough. In fact, the best time to negotiate is before you actually get the service.
- In fact, I’ll add one more “tip” to their list: Shop around. Yes, call around and compare prices, you’ll be surprised at the deals you can get. Go to www.healthcarebluebook.com to see what the right price should be.
About This Post
I thing negotiation is the one tip that many people don’t understand. Insurance companies are negotiating a smaller price for services, but people with no insurance are often charged the full price. It’s important to negotiate — to at least try.