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How To Deal With Huge Medical Bills

How to Deal With Huge Medical Bills

How to Deal With Huge Medical Bills. The bigger your medical bills, the more you’ll need to pay, whether you have health insurance or not. From there, it’s always a good idea to check with your insurance and make sure that the amount shown on the bill takes into account any payments and discounts from your insurance policy. Lastly, check that the bill was processed correctly by your insurance company, says Norman. Plus, making regular payments can help you prevent massive damage to your credit score. “When dealing with a large hospital bill, ask if their billing department offers discounts for prompt payment or payment in full,” notes Norman. “This can sometimes save you 5% or more on the total bill.” #5: Ask your health insurance company for a one-time exception. How to Prevent – or at Least Prepare for – Big Medical Bills Dealing with unruly medical bills can be life-changing in the worst way. “Setting aside several months of expenses and enough to cover your health insurance deductible and out-of-pocket max can save your finances in the event of a medical emergency,” he says. “You buy auto insurance to protect yourself in the event of an accident, you need life insurance to protect your family, and you need health insurance to protect your finances.” If you’re lower income, you may also want to see if you qualify for Medicaid.