How to Handle Major Medical Bills

When you have a medical emergency, getting to the doctor or hospital is the obvious thing to do. Unfortunately, many Americans immediately think of their pocketbook and bank account and try to find ways to put off visiting medical professionals.

In some cases though, avoiding medical attention is going to make a situation a whole lot worse. Getting medical help is also necessary to diagnose some ailments that can be hard for the average person to treat on their own.

While you might be worried about the amount of money you need to spend at the doctor, getting a clean bill of health is priceless. Use this guide to learn more about how you can pay for medical treatment you need, even if you don’t have a million dollars in the bank.

Double Check Your Insurance

When people are facing medical emergencies it can be very easy to panic and run to the first free standing ER Houston residents recommend and trust. Doing that isn’t always going to be the best option for your finances though.

Wherever you live, finding a medical facility that you can use with your current insurance is important. Know where this facility is and always keep your insurance information with you when you’re away from home.

Knowing where to go when you need medical attention can save you money and guarantee that you get the quick treatment you need.

Ask for Payment Options

After receiving medical treatment for an emergency, you may get hit with a very large bill on your way out the door. Unfortunately the cost of emergency care can be quite high for many people.

If you can’t pay for your whole treatment, or it would put major financial strain on you, asking for payment options can be very helpful. Not all medical providers will allow you to make payments, but for many people, even breaking down a large bill into a six-month payment plan can make all the difference in the world.

Consider Discounted Payment

When you have a big hospital or medical bill in front of you and you can’t pay it, there’s a good chance the provider knows that. If you could pay in full, you would have done it already.

Asking for discounted payment to clear the debt is sometimes an option. Many medical providers will take 75% or less of what you owe to simply make sure they collect something instead of nothing.

Budget Your Family’s Expenses

Budgeting is a skill that is not inborn; it is developed through time to help you handle the daily expenses. People who are not adept with budgeting end up with a huge debt with no food on the table and no house to go home to at night. If you are a parent, or soon to-be one, then you should know as early as now that you will not survive without learning how to budget. To help you, here are the things you can do.

Know Thy Income

When you were single with no family to feed, you just kept squandering your money by purchasing expensive shoes, bags, or whatever it is that you love without even knowing how much you really earn. Since you now belong in a family, or establishing a family of your own, you should know what your exact income is, down to the last cent. This will make you aware on what kind of lifestyle you should be living. Apart from your income, you should also know the income of your beau.

Allocate Money For Food and Bills

Food is more important than your new video game or expensive dress. You cannot live on water alone so when you get that much deserved earnings for this month, do not forget to allocate money for your grocery shopping. Your bills, whether it is for energy consumption or credit card should also be paid on time so you will not accumulate interests or other charges.

Have An Emergency Money

You never know when an emergency will happen. Your child may be innocently playing outside when lightning struck the tree, making it fall on your kid. It may sound gruesome, but you should always be prepared. Hospital bills are expensive and you do not have anyone else to turn to in these instances so better have that emergency money ready.

Budgeting is a skill that every parent should possess. Prioritize the important things over grand ones that you can live without and learn to live within your means. It is hard to pay off a huge debt so budget everything to the dot. Do not forget to employ the assistance of your husband to make the whole process easier.

Incentives for Families to Switch Bank Accounts

Sometimes there are incentives for families to switch bank accounts. One of the most common reasons is to find bank accounts with cash back offers. I have used different bank accounts, and my favorites are those accounts from banks that offer cash back. And of the several accounts at different banks that I use, all of them have given me cash back. It makes the decision to switch banks a whole lot easier; this is because I know that I have something extra when I am using my own money, and I have the money that the bank is giving me too.

If you have not realized the benefit that this can give you, then you should experience it for yourself; when your money is showing a return on your investment just by being in bank that gives you a return on your investment with them, then you will suddenly see the value that is brought to your original investment.

Free Checking

Another significant perk that is good to have is free checking. That alone can save you a lot of money. Some banks even give you the first set of checks free of charge. And if you use online banking, those paper checks can last a long time.

My Experience

One of my bank accounts with cash back offers returned me $100.00 just for opening an account with direct deposit. That bank account hasn’t cost me a cent, and I get a little bit of interest with the money that is in my account. I am able to do multiple direct deposits from my places of employment; this enables me to spread my money around and get multiple cash back offers. I never have to worry about losing any money, because all of the banks are insured with the FDIC to the maximum of my deposits.

My Recommendation

There are a lot of incentives for you to switch bank accounts, especially if the bank that you use does not offer you cash for using their bank. I have directed my friends, family and anyone else to use a bank that gives them money just to open an account. Once they have the taste of free money and any other free offer that the banks have to give them, they don’t forget it, and they go searching for more. I encourage everyone to take advantage of all the free offerings that are available. It is your money, so you should invest it as wisely as possible.