How To Take Charge Of Your Medical Debt

Are you or a loved-one in medical debt? You're not alone

. The Commonwealth Fund, a private foundation, reports that 79 million adults have medical bill problems, despite the fact that 62 percent of them have medical insurance. You can lessen your financial pain by taking these steps:

---Understand your insurance coverage. Make sure you're getting the coverage you're paying for by spending some time on your insurance company's website and studying your plan. Know your deductible and co-pay requirements. Be proactive, and challenge insurance company denials.

---Tell your doctor that cost is a concern. Ask questions about the necessity of tests and procedures. He or she may make lower-cost recommendations or work with you in talking to hospitals.

---Negotiate up front. Doctors and hospitals are becoming open to negotiation. Try asking if the price would be reduced if you pay cash. Different hospitals charge different prices for the same services so, if you can, ask your doctor's office for the current procedural terminology or CPT code for the procedure and shop around to compare prices. For a small fee, you also can access reports on doctors and hospitals (including pricing) in your area at www.healthgrades.com.

---Ask for an itemized bill. As many as 9 out of 10 bills from hospitals and providers contain errors, such as double billing for the same services with different descriptions. If you are too ill or don't have time to scrutinize your bills, hire a medical billing advocate from such organizations as the Medical Billing Advocates of America at www.billadvocates.com.

---Discuss monthly payments. If you've incurred a big bill, talk to the doctor and the hospital about a payment plan.

---Look for assistance. If you are struggling with medical bills, you may find help by visiting a site such as www.patientadvocate.org, which has a state-by-state directory of financial resources.

The Freeman/Davis Team is not just real estate...we're every day living. When the time is right for you to consider a real estate sale or purchase, visit our Raleigh Real Estate website. For wonderful opportunities on Raleigh Homes for sale, visit www.HomeSearchRALEIGH.com.

by: Rick Freeman

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