Blogging Away Debt Our Journeys to a Debt-Free Life

by Susan Paige

Thanks to the high cost of medical treatments and prescriptions in America, it is likely for an individual to accrue some kind of medical debt even after receiving a necessary or required treatment. We should not have to put our financial concerns over our health. Luckily, paying medical debt is a bit easier than paying off other debts, as many healthcare providers are willing to negotiate costs with each patient or offer payment plans based on insurance and income. Whether you are receiving a treatment from a clinic like ThriveMD or an unexpected emergency surgery, here are a few ways that you can pay off your medical debt so that you can resume living your life, debt free. 

1. Payment Plan

Many medical providers allow patients to use a payment plan, which splits up costs over a longer period of timer. The minimum amount you pay as well as the amount of your monthly payments will depend on your monthly income as well as  whether or not you are insured. This is the easiest way to pay a bill that is too large for you to pay all at once. 

2. Medical Credit Card

Many healthcare providers who do not use payment plans offer medical credit cards, which are typically used for specific procedures. These cards often have an allotted period of time in which they do not earn interest, but the downside of using one is that you eventually will have to pay interest rates which can end up making medical treatments or services much more expensive than they originally would have been. 

3. Negotiating Prices

Many medical care providers do allow patients to negotiate pricing on treatments and services, although this can be difficult. Depending on your income and the arguments you are able to make in your favor, it is possible to reduce the costs of your bills. If you do not feel comfortable or have not found success doing this on your own, you can hire a medical bill advocate to help you negotiate pricing and find an option that works best for you. 

Although medical debt can be an intimidating and overwhelming concept, it is possible to pay off your debt. Don’t neglect your health or put off receiving necessary medical care due to financial concerns – follow these 3 tips and find a way to pay off medical debt that is best for you.