Financial Help for Medical Bills

Getting financial help for medical bills is often not as difficult as you might expect. Many hospitals have in-house debt programs to assist you.

In other circumstances, you can use external services such as debt settlement companies in order to reduce your bills and make paying them off quicker and easier.

Organizing Yourself

Before you even think about applying for financial help, you need to get your financial house in order and:

• Create an itemized list of all your debts.
• Calculate how much you owe in total.
• Figure out how much you're paying each month on medical bills.
• Organize some proof of income.
• May be required to show proof of your financial hardship.

Gather up any and all documents in your possession relating to other bills you have, such as credit card debts, auto loans, and home mortgages. These can be used as leverage to show a healthcare provider that you are unable to pay off your medical debt without help.

Financial Help with Medical Bills through Your Hospital

Once you have gathered up all the necessary documents, run the numbers, and concluded that paying off the debt will be impossible without help you will need to contact with your healthcare providers and inquire about medical financial assistance programs.

You will be expected to fill in some paperwork to apply for assistance through an in-house debt assistance program—with some hospitals, you will be able to do this online. If you are unemployed and or have no proof of employment details you will need to provide some acceptable form of documentation that proves you are out of work.

If the hospital decides you qualify for assistance, you will likely see at least a partial reduction in your medical bills. In some cases, you may find that the assistance will cover your entire bill. If you are being asked to pay interest on medical bills or have received an invoice with interest charges added you should ask to have these removed, most medical bills are interest-free. When you apply for assistance, make sure you settle on a monthly payment scheme that you can reasonably live with on an ongoing basis.

Settlement of Medical Debts

Debt settlement is a process that can be used to clear outstanding debts. When the debt is medical the settlement means reaching an agreement with the hospital that will allow you to deliver a sum which is less than the original total billed amount. This can often be achieved for those who can demonstrate a need through direct negotiation with the provider. Doing so may save you considerable money but may also have a negative impact on your credit record.

Medicare and Medicaid

If you are unemployed or on a very low income, applying for Medicaid may help you meet your medical bill payments. Medicaid is designed to make sure people living below a predetermined income level receive proper healthcare, although simply being unemployed or in a low-income bracket does not necessarily guarantee you will qualify for financial help from Medicaid. Other factors such as your age, any disabilities, and pregnancy also come into play.

If you are a senior citizen and over age 65 you may be eligible for Medicare, this is a similar program designed to provide seniors some assistance with medical costs. Even if you are not over 65, you may qualify for Medicare if you are suffering from a particular disability or disease.