You can eat well, take all your vitamins, and stay active. Unfortunately, there are no guarantees you won’t wind up in the hospital one day. Medical emergencies can happen to anyone, regardless of how healthy you are.
Seeking out emergency treatments for a broken wrist or concussion delivers a colossal bill. It’s not always easy coming up with the money. If you’re scrambling for ideas, read ahead to learn how you can handle unexpected medical expenses.
Review Your Bill
An official bill from your local clinic or hospital may seem final, but you may have more wiggle room than you realize. Check to see that you aren’t getting up-charged for basic supplies and treatment.
Healthcare is expensive enough without having to pay for something you don’t need, so be vigilant. If you aren’t sure what you should be looking for, involve the healthcare practitioner and ask them for the following two things:
- Level of Care Review
A level of care review compares the services you receive to the severity of your emergency. In rare cases, hospitals can overcharge you by grading your emergency as more urgent than it is.
- Itemized Bill
Requesting an itemized bill forces the hospital to justify their pricing for each supply, tool, and treatment they use. This breakdown of your bill can flag any human errors or inaccuracies inflating your costs.
Consider Emergency Online Loans
Medical expenses can be challenging to pay, even after you negotiate a lower price. You may even find it tough if you have health insurance. With copays, deductibles, and other out-of-pocket expenses on the rise, you might not have enough cash to cover your end of the bill on your own.
Emergency online loans can be a safety net in this difficult situation. Going online for installment loans is a quick and convenient way to help you cover unexpected emergency expenses. You can even find fast installment loans online that work on a tight timeline thanks to their quick application process.
Check out Other Financing Options
If an online installment loan isn’t enough, you still have options. Try speaking to your clinic’s billing department to see if they offer financing plans.
If available, these plans spread out your bill over multiple payments. This means you won’t have to cough up your entire balance in one lump sum. You can pay back what you owe in installments.
If it’s not available, check to see if the hospital has a charity care policy. If your hospital runs as a non-profit organization, it must provide financial assistance to low-income patients under charity care.
Charity care reduces your costs on a sliding scale depending on your income. It may even cover your entire bill depending on your needs.
Prevention is Better Than the Cure
Throw out the old saying that an apple a day keeps the doctor away. While investing in your health may boost your immune system and keep you from catching a cold, it won’t help you in an emergency.
A far better way to stay prepared is by retooling your budget. You’ll want to play around with your finances to see how you can afford to put some savings away in a medical emergency fund. And, if you don’t already have insurance, shop around to find the best rates possible.
So, once you deal with this emergency, prepare for the next. Having a large nest egg and comprehensive insurance can help you handle your healthcare costs.