A stethoscope on top of medical forms

How to Avoid Affecting Your Credit Score While Paying Hospital Debt?

Hospital debt and unpaid medical bills are becoming increasingly common in the United States. While people without insurance struggle to pay medical costs, people with medical insurance have also been having trouble affording certain medical treatments.

Luckily, the three major credit bureaus, Equifax, Experian, and TransUnion, have a 180-day waiting period before your medical debt shows on your credit history. This is ample time for people to work out a way to pay their medical bills and avoid damaging their credit history.

There are a few strategies you can adopt to make your medical bills manageable. We’ve listed them down for you so you can be prepared the next time you need to service your hospital debt!

Get In Touch with your Insurance Company

If you have medical insurance, follow up with insurance providers regarding the costs they will cover. Go over your insurance policy to identify what costs will and will not be covered by your insurance provider, and recheck with them when the time to pay bills comes around.

Request a Medical Bill Payment Plan

You can request that your medical provider formulate a bill repayment plan for you. The repayment process will be easier in installments rather than as a lump sum amount. There is a significant chance they will be willing to provide you with this option as opposed to not receiving any payment when you default.

A stack of coins with a clock in the background

Negotiate Unmanageable Bills

Negotiating your medical costs is also an option you can try to avail. While it’s not favorable, you might get a shrunken bill if you negotiate well. Remember to thoroughly go through your bills to ensure there aren’t any extra charges added without your knowledge.

This is also an effective strategy to pursue if you’re not covered by insurance and are planning to pay directly out of pocket. Your medical provider might be inclined to lower your bills if you negotiate with them directly instead of going through an insurance company.

Look for Financial Assistance

Look for financial assistance in your community. Many non-profit medical providers are willing to cover medical costs for lower-income groups. You can also try to crowdfund to get some financial support, but it’s not a reliable way to address enormous medical costs.

While these strategies can help you avoid having medical debt on your record, it is still possible to have a medical bill sent to collections. This could be due to negligence or miscommunication. Therefore, you must be vigilant about the medical bills your hospital sends you.

Keep a regular check on your credit report and get in touch with a credit repair consultant if you’re faced with unmanageable debt to devise feasible alternatives.

Firms like ours assign personal account managers to clients to sort out their credit issues and discrepancies. Go to our website and get a free consultation to sort out all your credit problems!

 

 

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