As a patient, my rights include the following: - The right to high quality treatment
- The right to a clean and safe hospital environment - The right to informed consent to any treatment or medication
- The right to know whether treatment is experimental or part of a research study - The right to make your own decisions regarding recommended health care - The right to courtesy, respect, dignity, responsiveness, and timely attention to your needs.
How does the medical billing process work? - The doctor’s office submits a claim to your insurance company. - The insurance company will determine whether or not it covers the provided service. - The insurance company will examine the doctor or hospital’s credentials and determine if they are an authorized provider.
- The insurance company will examine the medical necessity of the service provided.
The insurance company compiles the aforementioned information and then decides who pays for the provided services.
Medical bills can dramatically affect FICO scores - Exactly what affect FICO scores play is a closely guarded secret.
Avoid paying medical bills with credit cards
FICO scores can be hurt by filing bankruptcy
FICO scores can be hurt by unpaid, partially paid, or delinquent medical bills
Options when considering BIG Medical Bills: - Pay your bills
- Negotiate your bills to reduce them to extend the payment period - Don’t pay your bills (and wait for the lawsuits and bill collectors) - Borrow money to pay your bills
- File bankruptcy and start over with a “clean slate”
Tips for Lowering your Medical Bills: - Do Your Research – Get a healthcare package that is right for you - Take Care of Your Health
- Stay Informed – Know about medical events and information to help you spend wisely
- Combining health plans - Making use of a flexible spending plan
- Invest in future good health - Be prepared and know your options
How to Avoid Medical Disputes - Read and understand your insurance policy - Keep all medical records or treatments, bills, and notes from conversations with physicians - Read bills and explanations of benefits from insurance companies - Avoid the temptation of running from your medical bill problems
Resist paying medical bills with credit cards - Hidden charges for credit cards can greatly increase the amount you end up owing - Using credit cards to pay medical bills only creates a loop of payments that could end up costing you more when all is said and done.
- Using credit cards could increase stress levels
- Having multiple credit cards creates multiple problems
- Credit cards are an expensive way to borrow money
What debt collectors can NOT do includes: - Debt collectors cannot make false statements
- Debt collectors are not allowed to use threats or violence
What if you can’t afford to pay? - Know that you are not alone - Emergency Care is a basic right – Hospitals are granted funds to treat and transfer individuals who need care to another facility
Know yourself and know your options
The Biggest Money Saver: - If you are in reasonably good health, work hard to stay that way!
Medical Bills and Bankruptcy - Filing for bankruptcy does have positive outcomes in that it provides you with a new beginning
- Bankruptcy allows you to rid yourself of the emotional stress and turmoil that comes with heavy medical bills
- Filing for bankruptcy allows you the option to rebuild your credit
- Make sure you choose the type of bankruptcy that best fits your needs
- Bankruptcy can help you put together a positive map for your financial future
- Bankruptcy is NOT quick fix plan, it is a long-term solution to resolve financial turmoil
Benefits of Health Insurance: - Cut costs for hospital visits and emergency rooms - Reduce costs for several medical procedures - Decrease the costs of visits to specialist doctors - Make routine health checkups more affordable and accessible
How can Allmand & Lee help you? - If you’re considering bankruptcy as an option, Allmand & Lee has years of experience in handling bankruptcy cases. - Allmand & Lee takes a results driven approach! Allmand & Lee wants to ensure that all clients benefit from their services. - Allmand & Lee care about their clients and want to help resolve their financial problems.