Paying off medical bills is not the same as any other line of debt. Unlike credit cards, mortgage, or other forms of debt, with medical bills, you can negotiate the terms of your repayment plan and possibly reduce the amount you owe altogether. The first step is to understand your bills, how much your insurance covers, the benefits and what you’re expected to pay. After you have all the information, you can then choose the best option to pay for your medical bills.

Negotiate A Payment Plan

It is imperative to be upfront with your billers about your financial situation and how much you can afford to pay over a stipulated time. This way, you can get a payment plan that’s best suitable for you. Payment plans split your bills into several payments over a period of time until you’ve cleared out your whole medical bill. You should also be well informed of potential interest or extra money you’re required to pay when you opt for a payment plan.

Consider A Medical Credit Card

Sometimes, payment plans may not work for you or maybe denied by your biller. When that happens, consider using medical credit cards. Medical credit cards usually come with an interest-free period of 6-12 months. If you can pay off the amount by then, you’re at luck. If not, you may have to pay a little extra in interest. Assess your total amount owned and see if it’s possible for you to take the easy way.

Hire A Medical Bill Advocate

For extensive procedures, you may not find yourself buried in exorbitant amounts of credit. When this happens, It is possible that you have been overcharged and you can get the bill reduced through the use of a medical bill advocate. Medical bill advocates help you assess your total balance, check for errors and reduce the total amount you owe. They need to negotiate on your behalf and their experience and expertise can come a long way in getting your bill reduced.

Personal Loans

Personal loans can help you, particularly if you owe a large number of medical bills. A personal loan helps you consolidate your bills and pay over a stipulated period of time. If your medical biller does not accept payment plans or medical credit cards, personal loans are the next best thing. This way, you can not only pay for planed procedures but even the emergency ones too!

If you don’t have insurance, your medical bills are likely to be higher, and it’s imperative, to be honest with your provider about where you are financial. Medical bills may leave a large stain on your credit report so they need to be dealt with accordingly before any damage is done.