After Battling Covid-19, Survivors May Have to Fight Big Medical Bills

1. After Battling Covid-19, Survivors May Have to Fight Big Medical Bills When evaluating medical care during COVID 19 pandemic, you don’t want any decision to go wrong. It can have harmful effects on your health. Besides, you don’t want money matters to stand between you and good health. It would seem that medical bills don’t change. You can work out with health care providers to reduce the out-of-pocket expense, whether you worry about Covid-19 or any other issue. Or talk to ClaimMedic that can help with COVID-19 hospital bills. The Financial Impact of Covid-19 Bills and How to Deal With It The coronavirus pandemic has thrown the economy at the lowest. Every single person is reeling under the drastic effects of a slowdown. On the one

2. hand, there is a financial crunch that the world is going through; on the other hand, there are mounting medical bills for treatment. Debts are a cause of worry. You have to find ways and means out of it. Here is a guide to help you out is such dire situations. With these ideas, you can manage your debts and regain your financial standing. 1 Make Sure That You Understand Your Medical Bill in Detail It is essential to note that you have to understand your medical bill in all its extent. There is a term widely in use in this context. Insurance companies mostly use it- An Explanation of Benefits or EOB. It is merely a statement from your insurance company that explains that medical services are covered. And how much amount the insurance firm contributed. Now, you are liable to pay the balance amount on what remains. Typically, you will receive an EOB first. The actual bill will follow later. This bill comes directly from the provider or the hospital system they work for. When the bill finally arrives, go through the line-item charges and make sure they are accurate. If something is doubtful or says your plan does not cover it, call them up for details. 2 Try To Negotiate the Debt Try to negotiate your medical costs. The best time to do this before any medical care is provided. If you think you cannot afford the entire cost of the treatment you need, ask about a reduction. You can even ask for a payment plan, if available. Providers may try and negotiate after the bill is issued. You can consider asking for a reduction in fees for early bill payments. Or set a re-payment plan that spread the bill across months. 3 Compound the Debt

3. Your medical bills can be massive. Or you may fall behind with the payment part. In such a case, you need to think about consolidation. This aspect will combine all your outstanding’s into one single account. Through this arrangement, you pay just one bill per month that spread across months. Under this arrangement, you have two options • Transfer the debt to a high-value credit card: you can join debts by transferring balance payments to a high-value credit card with a lower interest rate. • Get a debt consolidation loan: credit card loans can get out of hand as the floating interest rate can be higher than 20 percent. 4 Think about an Income-Based Hardship Plan Income-based payment palms are available to some insurance participants with low income. These work like standard re-payment plans. They spread your medical debt across smaller monthly payments over time. Sometimes, providers can reduce your debt amount if you have such a plan. So you can consider an income-driven hardship plan as soon as your medical bills come. 5 Get Help Several programs and providers assist. This service may be free or comes at a reduced cost for those who face a financial crunch. Many of these programs also offer bill advocacy to help lessen and negotiate existing and whooping medical debts. To Wrap It Up With most of the bills containing erroneous billing, it best to consult ClaimMedic, the medical bill negotiators. One of the major perks is that it reduces your stress as well as medical debts.

4. With the right assistance and guidance, you don’t have to run around and no longer need to wait. Get in touch with ClaimMedic that knows how to work with the billing department and resolve your medical bills. Your life and good health is too meaningful an issue. You cannot give up essential treatment just because of medical bills. Content source