How to Manage High Medical Bills
High medical bills are a common concern in the U.S., with an estimated 20% of households impacted by medical debt, according to the Consumer Financial Protection Bureau. Bills in collections make up over half of all debt on credit reports, with disparities impacting Black and Hispanic households and Southern states particularly. Despite the challenges, resources are available to help manage or reduce these costs.
For those facing large bills, charity care may offer relief, especially at nonprofit hospitals required by law to reduce or forgive bills based on income. Patients like Luisa, who faced over $1,000 in unexpected costs, have found success with advocacy groups like Dollar For, which assists in securing financial aid and refunds where applicable.
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The No Surprises Act is another safeguard, ensuring coverage for certain out-of-network charges for insured individuals. Additionally, requesting an itemized bill and reviewing charges against standard billing codes can uncover potential errors, leading to cost reductions.
Persistence is essential in navigating medical billing challenges, but these methods can lead to significant savings.
Source: Associated Press.
