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Who Helps Patients When Medical Bills Pile Up?

Many patients find themselves in deep financial jeopardy when the medical bills arrive. As a result, some people refuse to get checked even during moments where critical care is needed, and some are swamped up in large debts.

The health industry is a prime service worldwide. According to Rusty Tweed, the owner of Tweed Financial Services, the health sector accounts for 17.1 percent of GDP spending in the US alone, making it one of the highest portion takers compared to other services combined. Health is essential to living, and most people will need medical assistance for a major health concern at least once in their lives.

However, the dilemma still stands: Where should a patient run to in times of financial stress due to medical bills?

In this post, we will be talking about the key persons who can help an individual when medical bills turn unmanageable.

Who Helps Patients When Medical Bills Pile Up?

 

1. Health insurance companies

Whether you are employed or not, it is essential to be covered by a health insurance company to protect yourself financially from any major medical bill. There are several health insurance companies that are available in the market, and as an employee, you will be introduced to these benefits during your stay in the company. Self-employed individuals can also avail of health insurance services that offer affordable plans that cater specifically to one’s needs.

2. Medical service providers

The medical service providers such as the hospital, clinic, doctor’s office or any other practitioner should inform the patient fully about the medical bill and be willing to answer inquiries with pertinent details. Additionally, these medical service providers can also help the patient coordinate with the insurance company to settle the medical bills. Since these bills come from the providers themselves, they should be able to provide the correct billing information with a specific itemization of the services provided. This helps the health insurance company sort the type of coverage you will receive.

3. Financial Advisors

Rusty Tweed, a known financial advisor, is a veteran in this industry. He assists individuals who have trouble paying medical dues. He contacts the medical service providers to discuss with the patient if there are other ways to lower the medical bill or health coverage plans which are payable to the patient. Whether it is an adjustment of billing or an application of a health coverage, the financial services company can help the patient budget his assets and find sources of financing that are applicable to his situation.

4. Nonprofit Agencies

Some agencies are willing to help patients in financial debt. For example, the Nation Foundation for Credit Counseling can help people by providing credit and debt advice. They have a large resource of companies and organizations who are willing to offer loans, donations, and medical grants to eligible patients. They also provide you with possible solutions to solve your debt problem and to avoid experience similar hurdles in the future.

5. Crowdfunding

Another non-traditional way of getting resources for medical debt is through crowdfunding. People are naturally compassionate in times of need. Through websites such as GoFundMe or YouCaring, people in need can reach out to others globally for financial help. In setting up a crowdfunding page, it is important, to be honest about your predicament as people value sincerity. Family members and friends can pitch in to help in your medical bills and can share the webpage with other people as well. This is one way of getting help without additional future costs.

6. Government healthcare funding

If you are a veteran, service member or a dependent of one, it is important to apply for health care coverages provided by the government. Lower-income families can also avail of special healthcare coverage through the Affordable Care Act. Some of them include Medicare, Medicaid, and Tricare. These government-funded plans are very helpful in emergency situations and regular doctor checkups.

7. Local Assistance Programs

You can also contact your local government agencies for any loan programs or financial assistance grants that will help you cover some of the medical costs. Do not hesitate to ask information about these programs as it can help you find sources to reduce your debt. Medical bill assistance is available through discounted services or prescription drugs.

With the help of these key resources, there are definitely ways to reduce your debt and ultimately pay off your medical bills. Rusty Tweed advises patients to review their medical bills, ask all that is needed to be asked, and seek help in financial advisors and government agencies. Through the concerted efforts of these people and yourself, it is possible to pay off medical bills, even with how large they seem to be.

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