YOU COULD SAVE MONEY ON YOUR MEDICAL BILLS
Medical bills are a topic that many people do not want to talk about. The cost of medical bills can be crippling at times, and yet did you know some costs are preventable. I am not an expert on all things related to medical billing but I have worked in the medical field for years. These are just some simple tips and advice on making sure you get control of your medical bills. People are dealing with medical bills every day and often do not realize they maybe causing their unnecessary stress. I believe the best way to prevent owing more than you should, is by following some of these basic tips.
Tip #1
the Insurance company's and the hospitals are not your enemy. It may feel like they are the enemy especially when you are having increased medical issues and medical bills. They are also not your friends, and if you do not comply with requests, you can be held financially responsible for things that you may not have been originally. Always respond to phone calls and letters received by any medical provider. When you choose to ignore contact you could be the cause of your financial problems. Ignoring contact from either an insurance company or a medical facility can be a huge financial mistake. Ignoring contact can result in issues that may not be easy to fix later on and this could result in larger bills for you later.
Tip #2
Always bring your updated Insurance cards to appointments for your doctor. If you go to the hospital or for anything that will be charged to your insurance, always present an accurate card. It is easy to forget, but this can also be a costly mistake. If they are unable to bill correct insurance or get in contact with you, the bills will be sent in full to you. This will remain your responsibility until this information is provided for billing. If this information is not provided, each insurance company has what they call a timely filing limit, and these charges can become your responsibility if you have not made contact and updated this within that time frame.
Tip #3
if you get a huge bill from a medical provider or hospital that you cannot pay, make sure to verify that your bill reflects that these charges are your responsibility. It is also important to review the documents sent from your insurance company. This document is called an explanation of benefits, make sure the charges billed to you match the patient responsibility shown. In doing so you may also be able to prevent being billed for things in error due to computer errors or even a human error.
Tip #4
Know your healthcare benefits and make sure you understand them. you should at least somewhat understand your benefits before any medical procedures you are going to have done. There are times where this is not possible because emergencies happen, but not everything is an emergency and not everything is covered by your insurance. You may want to contact your insurance company to ask some questions regarding your coverage. Read through the booklet or online information provided to you by your insurance company. The medical facility can be a good resource at times if you contact customer service with your questions they should be trained to get the answers you are requesting. Keep in mind each insurance is very different and not every facility will know the specifics of your insurance plan.
Tip #5
If you find yourself with a bill too large to handle, or your financial situation is not the best, there are two things most medical facilities and hospitals may do to help you. The first is they will usually work with you on a payment plan and can establish monthly payments to be made towards a larger bill you owe. The second is if your financial situation allows for this, and you do not make enough money some medical facilities will offer financial assistance. Financial assistance is usually given when people have lower-income that cannot make payments. The only way to know if you qualify is to contact them. So look on your statement and contact the facility at the number provided on the statement. Usually you will be required to provide specific financial information to show that you qualify.
Tip #6
Understand what a deductible is and what your deductible amount is yearly. The deductible is an amount that you owe out-of-pocket yearly towards any medical bills. This must be met before your insurance begins to pay. Coinsurance and copayment are also your responsibility as a patient and all three of these are outlined in your benefit information for your insurance plan. There can be other costs to the patient depending on your current coverage and services being performed.
Tip #7
My final tip is make sure that the doctor or medical facility is in network, and that you understand what your responsibility will be financially if they are not. Often an out of network provider or hospital can cost you more than one that your insurance company is in network with. Understanding this in advance can save you a lot of unnecessary costs in the future. Thank you for reading this, and I sincerely hope it was helpful to you and that you gained a better understanding of how your medical insurance and medical billing works. I do not offer professional advice and this is not legal advice. I am simply giving you some tips from someone who has been around healthcare for years, and has sadly seen these costly mistakes made and even made them myself in the past.
