When a medical emergency comes along, you may be inundated
with unexpected bills. Even when your medical cost were expected, they can
still be very overwhelming. Unfortunately, most medical expenses cannot be
avoided- you must take care of your health after all! However, there are
several ways to help finance your medical costs so that the financial burden is
more manageable.
Negotiate Your Debt
When you receive a medical bill from a hospital or medical
provider, you may think that the amount you owe is set in stone. However, that
is not necessarily the case. You may be able to call the billing department and
settle on a lesser number. Many hospitals have ‘charity care’ for families who
are struggling to pay their bills which will give you financial aid. It is
definitely worth asking and trying to get the size of the bill reduced!
Payment Plans
While you are on the phone with the billing department
inquiring about lowering your medical bill, you can also ask about setting up a
payment plan through the hospital or provider. Many establishments will off
your interest free payment options which would help greatly to lessen the
impact of your medical bills. As long as you continue to pay, you will be able
to keep your zero percent interest!
Cash Loans
For emergency medical bills, fast cash loans are
ideal as these loans are usually approved within hours and you receive the
amount in your bank the same day or within three days tops. Cash loans are the easiest
loans to obtain, you can obtain them online and require minimum documents for
approval.
What makes cash loans great is the flexibility of repayment.
You can choose to pay the debt every month in fixed installments or any option
that suites you.
Credit Cards
If you have a credit card that has a low interest rate and a
credit limit that is high enough to cover your medical bill, paying your
expenses using a credit card can be easy. You may even get cash back points if
your card allows!
There are also several medical credit cards that are
specific to paying medical expenses. See if your medical provider will accept a
medical credit card and then look into which card would be best for you. Your
approval will again depend on your credit rating and financial history but the
rules are typically a little more lax as medical care is a necessity.
Home Equity Loans
If you own a home and have been consistently paying your
mortgage for a few years, you may have a good chunk of money invested in your
property. You can utilize this asset by applying for a home equity loan. You
can borrow against your home and secure money to pay for your medical expenses
quite easily this way. Of course, you will be offering your home as collateral
but at least you will be able to pay your medical expenses!
Medical Bill Advocate
If you are having an especially hard time paying for your
medical expenses, you may want to consider hiring a medical bill advocate.
These volunteers and for hire individuals are professionals at spotting medical
bill errors and can help you negotiate any bill on your behalf. It is always
good to have someone on your side!
Thankfully, there are options to help you pay for your
medical expenses. Whether it be a home equity loan, a medical credit card or a
personal fast cash loan, relax, recover and rest assured that you will be able
to get those bills paid!