Optima Tax Relief Reviews How to Manage Medical Debt

According to a report from the Consumer Financial Protection Bureau, about 58% of bills in collections are medical related. Additionally, there are about 43 million credit reports that show past and present collections for medical debt. Optima Tax Relief reviews how to manage medical debt without harming a credit score. 

The best thing to do when receiving a medical bill is to take care of the payment as quickly as possible. It is very easy to get overwhelmed with the amount owed and ignore the issue. National Patient Advocate Foundation spokeswoman Caitlin Donovan claims that often times, the bill amount is actually more than the amount owed. This can happen when the patient is billed directly instead of the bill being submitted to the insurance company. It is always best to confirm with the car provider that the bill was submitted to the insurance company.  

Once this is confirmed, an explanation of benefits (EOB) should be given by the insurer. An EOB is the breakdown of the charges submitted to the insurer by the care provider. It also shows a summary of what costs the patient is responsible for paying.  

If the amount owed is too much for the patient to manage, there are a few options. It is worth trying to negotiate with the care provider to see if it’s possible to lower the bill. Some medical care providers offer financial help or a payment plan to those who are eligible. If the debt is in collections, a bill-negotiating service can work with the care provider on the patient’s behalf to lower the bill. 

One thing to avoid is charging the bill to a credit card. High interest rates can ultimately severely increase the total amount paid. It’s also important to make sure the provider.