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Practical Money Matters Radio Series

June 3, 2013
Can't Pay Your Medical Bills?

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When it comes to medical bills, it pays to be an informed consumer. Find out how to stay on top of medical bills with these expert tips.

Transcript

To help combat spiraling health care costs, become an informed consumer. Know the true costs of medical procedures, supplies and medications so you can bargain effectively.

Sometimes it's hard to stay on top of bills. Try these tips:

  • Match each doctor, lab or hospital bill against the insurance company's Explanation of Benefits, which shows how much each was reimbursed.
  • Watch for items charged by mistake.
  • Don't ignore bills you can't pay – they'll go into collection and ruin your credit. Instead, try to work out an installment plan or reduced rate.
  • Ask the hospital's patient liaison to review your case and see whether you qualify for financial assistance.

Bottom line: You're the only one who will be a financial advocate for your medical expenses.


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