Health crisis changes the way you live your life. It puts up a lot of extra burdens on your shoulder that you couldn’t carry. With new technology and modern treatments, one has to deal with high medical bills for medical treatments. In many cases, a part of the medical bill or the entire medical bill can be discharged or forgive through Medical Bill Debt Forgiveness programs.
What is Medical Bill Debt Forgiveness?
Medical Bill Debt Forgiveness is nothing but the process of reducing the medical bill debt by requesting the concerned authority or seeking help from third-party organizations.
If you are struggling to pay high medical bills, then you can seek help from third parties who can help you pay your medical bills.
According to a recent study, over 137 million American adults had experienced shortages of funds to pay their medical bills. You need to discover different strategies to reduce your medical bill debt.
Fortunately, we have managed to list out several ways that can help you reduce your medical debt. You can either request a flat discount from the hospital’s authority or can go for the repayment plan. Let’s check out the different methods of reducing medical bill debt.
Best Ways to Ask for a Medical Bill Forgiveness
We all know the negative impact of high medical bills in our routine life. If you receive a high medical bill from the hospital after receiving a specific treatment or surgery, then you are not the only one in the space. According to a recent study, over 26% of Americans struggle to pay their high medical bills and look for medical bill forgiveness.
Hospitals are bound to collect medical bills to function their business properly. For that reason, they provide different options to those who can’t afford to pay their medical bills directly.
In general, there are 5 different ways a hospital can suggest to patients against high medical bills.
- Direct Discounts on the Generated Medical Bills
- Financial Assistance to Unsecured Person
- Payment Plans with low or no interest
- Seek help from NGOs
- Filing for Bankruptcy
Check out these 5 ways to get medical bill forgiveness
1. Ask for Financial Assistance Policy from the Hospital
The first and the easiest way to get a reduced medical bill is to ask the hospital if the patient is qualified for the financial assistance policy. Financial Assistance Policy is also known as Charity Care that is preserved for financially weak patients.
The authority may ask you to show your income proof and other required documents to check if you come under the charity care program. Depending on your proof of income, the hospital may cut the medical bills to half or even forgive the entire medical bill.
2. Ask for Discounts
The second way to reduce or forgive your medical bill debt by the hospital is to ask for a discount. You can ask for a flat discount on the medicines that you buy from the hospital’s pharmacy. If you have a known person in the hospital, you can refer to his name to reduce the final amount on the medical bill.
3. Don’t Pay by Credit Card
When you pay your medical bill through Credit Card, then Hospitals will not be able to do anything about the final price. Some people put their medical debt on a credit card that charges even extra to the consumers. Instead, discuss the available payment options with the concerned authority of the hospital.
You can set medical bill debt at lower interest rates from the hospital’s medical aid programs. Always prefer to go with the hospital-backed medical assistance program to pay your medical bills.
4. Seek Help from NGOs
Many active NGOs provide financial help to qualified applicants for the forgiveness of their medical bill debt. These NGOs have partnerships with hospitals to settle down the medical bills on behalf of the patients.
NGOs payout the pending bill amount through the hospital’s Charity Care Program. Low-income families can seek help from NGOs that have good contacts with hospitals.
They can provide direct financial assistance to such families to clear the debt of the medical bills. You can get references from the Hospital’s Finance Department to know more about the available charity programs and NGOs who can provide financial help to pay the medical bills.
5. Filing for Bankruptcy
The bankruptcy court may help you clear your medical bill debt. One can simply file for bankruptcy to forgive the pending medical bill debt by the Hospitals. According to Bankruptcy laws, medical bills and other expenses can be cleared if the applicant qualifies for Bankruptcy under Chapter 7.
In most cases, the courts would give 3 to 5 years to repay their pending medical bills. This time duration is enough for low-income families. This may affect your credit score for the next 10 years.
If all fails check if you qualify for grants for medical bills provided by the government and charities.
Medical Bills can be stressful for those who have not covered their health. Health Insurance Policy or Medicaid is crucial for medical emergencies. Medical Bill Debt Forgiveness is a great option for those who haven’t covered their health or have low income.
Medical service providers are always there to assist you with your problems. First, discuss your financial condition with them to get a flat discount on the medical bills. If the bill is high, then you can ask for a charity care program. There are several options that you can try out to pay your medical bills.
For total forgiveness of your medical bill, you have to show the low-income proof to NGOs and Hospitals. Then they will decide whether to give a discount on the medical bill or forgive the entire bill. Applying grants for medical bills may also get.