Struggling With Healthcare Bills? Take These 4 Steps Now

Some expenses in life are unavoidable. And medical bills tend to fall into that category.

The problem is that even with health insurance, you might find yourself struggling to keep up with those expenses. If that's the boat you're in right now, take these four steps immediately. 

1. Make sure the charges are accurate

Just because you receive a medical bill for a certain amount of money doesn't mean that's the correct amount to pay. All it takes is an incorrect billing code for a health insurance company to reject a claim, leaving your provider to bill you for the balance.

If you're staring at a larger medical bill than what you'd normally get, investigate. Call your health insurer to see if the claim was denied. And if so, press further. You may have to get in touch with your provider and ask them to resubmit the claim with different billing codes to get it approved. But it's a step worth taking, as it could reduce the sum you're on the hook for.

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2. Try negotiating with your providers

Medical providers want to get paid. If you have a bill you won't be able to reasonably cover anytime soon, pick up the phone and talk to someone about that. A provider may be willing to settle the bill for a smaller amount in the interest of getting paid. 

Also, some providers are just plain sympathetic toward people who don't have great insurance coverage, or who don't have coverage at all. Don't hesitate to pull on people's heartstrings to get your bills reduced. 

3. Get on a payment plan before you charge your bills on your credit cards

Credit cards allow you to pay off purchases over time, and clearly, that includes medical bills. The problem with using credit cards, though, is that you might face exorbitant interest charges that trap you in a cycle of debt. And too high a credit card balance relative to your spending limit could also cause damage to your credit score, making it harder to qualify for loans when you need them.

A better bet? Contact your providers and ask to get on a payment plan they set you up with. Many of these plans offer low- or no-interest financing, leaving you with more affordable ongoing payments. 

4. Keep tabs on your credit report -- and know your rights

When you're behind on making debt payments, it could impact your credit score for the worse. If you owe money to various healthcare providers, it's important to review your credit report regularly.

It's just as important to know what rights you have as a consumer with medical debt. Changes to medical debt reporting have made it so that the credit bureaus no longer include medical debts under $500. And those that are settled must also come off of your credit report. 

It's not an easy thing to be juggling medical bills that don't fit into your budget. Take these steps to get ahead of those bills before they become a big problem. At the same time, try your best to start setting money aside for healthcare bills so you're able to more easily cover them in the future. That could mean maintaining a separate medical emergency fund or contributing to a health savings account if your insurance plan is compatible with one.