How to Deal with High Health Care Costs

Health care costs continue to skyrocket, making it difficult for individuals and families to effectively manage their finances. How can you achieve financial stability when you have unexpected medical bills to pay off and debt to manage? New Era Debt Solutions offers our best tips for dealing with high health care costs.

Call New Era

Though New Era does not offer debt settlement on medical bills, we can work with you to manage your credit card bills. When you lower the amount you owe on your credit cards, then you free up those burdens and have an easier time paying your medical bills. The great thing about debt settlement is: you end up paying less than you initially owed. This can help you gain control of your medical expenses when your credit card debt becomes easily manageable.

Stay Informed

Not many people are aware of what is covered in their health care plan until after they receive the bill. Out-of-network providers can also create burdensome costs for patients, especially if they find out the doctor is not in-network after the fact. Ask plenty of questions and confirm your costs with the insurance company before appointments, procedures, and other visits. Office managers and receptionists can easily give you misinformation, especially if they are not properly trained. It is your benefit to stay informed on your plan to better plan for future expenses.

Be Persistent

Too often, patients feel powerless when they speak to collectors or creditors. They feel as if there is nothing they can do to alleviate the situation except go into debt further to pay the bill. Be in control and stand your ground to negotiate. You do not have to be hostile or raise your voice when taking to a collector. Rather, be patient and tell them what happened.

Sometimes, you can get costs lowered just by having a simple conversation. Also, remember to take care of yourself by focusing on a healthier lifestyle. Do everything you can to avoid the doctor outside of regular checkups to keep your medical bills at bay.

Find Competitive Quotes

Make sure you are paying the best – and most affordable – price for your health care. Work with a broker to map out all the options that align best with your health care needs and budget. Spend some time reworking your spending plan if needed, as health care continues to be expensive in certain states and areas. If you need to invest more money in health care, then see where you can cut back on other expenses in your budget.

Planning for the Future

Do you have enough money saved for your retirement to take care of yourself? CNBC reports on the expected health care costs for retired individuals. They reveal, “Fidelity Investments estimates that a healthy 65-year-old couple retiring this year will need $280,000 to cover their health-care costs in retirement.” The best way to stay on top of your finances is to be prepared. Look into your investment and saving options well before your retirement. A little preparation can go a long way!

Are you having trouble managing outstanding debt? New Era Debt Solutions is here to help you become debt free. Contact one of our friendly counselors for a free consultation today to find the solution that is right for your needs and budget.