2015 has just begun. This year, promise yourself to keep your medical debts under control. Take prompt action when a sudden medical emergency takes place. Make sure your health care expenses don't burn your wallet like the previous years.
8 New year resolutions to reduce medical debts in 2015
Here are the 8 new year resolutions you can make to keep medical expenses as low as possible.
1. Don't procrastinate. Take care of your medical bills as soon as you can.
Make a pledge to pay off medical bills as soon as you can. If it is not possible for you to clear your medical debts at once, then at least pay as much as you can. Your goal will be to stop hospitals from sending bills to collection agencies. Remembers, if delinquent medical debts appear on your credit report, then your credit score will surely drop in 2015.
2. Let go of your ego and ask about the charity programs.
Several hospitals have financial aid or charity programs. Don't hesitate or feel embarrassed to ask about them. These programs can help to pay off medical debts fast. If the person at the front desk doesn't know anything about the financial aid, then contact the hospital's billing department.
3. Ask for a discount if it is that necessary. Negotiate hard.
When you don't qualify for financial aid, make sure you ask for a discount. Get in touch with the manager of patient accounts and find out if you qualify for a discount. If that too is not possible, then negotiate for an affordable repayment plan.
4. Eat healthy food, exercise and be hygienic.
The idea is to avoid meeting doctors and going to hospitals. And you can do that when you stay healthy and physically fit. Have a proper diet and exercise every morning. Stay in shape and be hygienic. A lot of diseases crop up from germs. Kill those germs and take proper care of your health to avoid medicines and medical debt.
5. Don't take treatment from an out-of-network provider.
Health and wealth – both are precious to you. This is exactly why you have bought and renewed health insurance plans. Your insurer has already negotiated with the in-network providers so that you've to pay a small amount for treatment. So, when you get sick, make sure you receive treatment from in-network providers. Out-of-network providers will charge more for the same treatment.
6. Check your bill once. Don't rush to pay the bill instantly.
The billing department can make a mistake. So, before paying the medical bills, check and find out:
· If your name, address and other contact details are fully correct.
· If the amount they're charging is correct.
· If the insurance information has been properly listed.
Have patience. It is difficult to get your money back once the bill has been repaid. So don't make that mistake.
7. Use your emergency savings fund to pay off your medical bills.
Whenever you're a dealing with a huge amount of medical debt, the first thing you need to do is use your emergency fund prudently. If you've not saved for your rainy days, then don't panic. Discuss your problem with your friends. Think about the innovative ways to deal with the situation in the best possible manner. Don't even think about using your credit cards to pay off medical bills. The accrued interest on the outstanding balance will increase your debt and ruin your credit. That will be a complete financial disaster.
8. Seek help from a debt relief organization when you feel helpless.
There is nothing to be ashamed of when you're unable to manage medical debts on your own. Search online and find out a good debt relief company. Explain your problem to the debt negotiators. They'll try to bring down your overall debt amount.
Make a resolution to not neglect your health and medical debts in 2015. Stay updated about the healthcare reforms and take right steps to take maximum advantage of them. Make sure you've a clear idea about your health insurance plans. Find out what's included and what's not. Sometimes, even smallest details cost you a lot of money on health care expenses.