{"id":1120109,"date":"2019-06-08T13:30:53","date_gmt":"2019-06-08T13:30:53","guid":{"rendered":"https:\/\/dailyreckoning.com\/?p=107488"},"modified":"2019-06-08T13:30:53","modified_gmt":"2019-06-08T13:30:53","slug":"before-you-pay-your-hospital-bill-read-this","status":"publish","type":"post","link":"https:\/\/juniorminingnews.com\/?p=1120109","title":{"rendered":"Before You Pay Your Hospital Bill, Read This"},"content":{"rendered":"

This post Before You Pay Your Hospital Bill, Read This<\/a> appeared first on Daily Reckoning<\/a>.<\/p>\n

Have you run up a huge hospital bill that you\u2019re having difficulty paying? <\/span><\/p>\n

The stress can be overwhelming, especially while you\u2019re recovering from a complicated procedure and feeling like you\u2019ve been hit by a truck.\u00a0<\/span><\/p>\n

But you\u2019re not alone… <\/span><\/p>\n

The Consumer Financial Protection Bureau (CFPB) found that 43 million Americans have overdue medical debt on their credit reports. <\/span><\/p>\n

You may have already pleaded with your insurance company and battled with debt collectors. But you still can\u2019t get a break. <\/span><\/p>\n

One resource you might consider is\u2026 <\/span><\/p>\n

Hospital Financial Assistance <\/b><\/span><\/h2>\n

As part of the Affordable Care Act (Obamacare), all nonprofit hospitals must offer hospital financial assistance, also known as charity care. It\u2019s optional at for-profit facilities. <\/span><\/p>\n

The programs offer free or reduced-rates for certain patients. Yet the federal government doesn\u2019t have any clear rules on how much assistance should be provided and who qualifies. <\/span><\/p>\n

So that gives hospitals a lot of flexibility on what they offer and to whom.<\/span><\/p>\n

Many base assistance on federal poverty guidelines<\/span><\/a> (FPG)<\/strong>. This is a measure of income and family size used by Washington to determine who is eligible for some federal programs.\u00a0<\/span><\/p>\n

Others might have a sliding scale, which eliminates hospital debt for lower-income folks. Or there could simply be a standard amount of forgiveness. <\/span><\/p>\n

Many hospitals post specifics about their financial assistance program on their website. <\/span><\/p>\n

For instance, Jupiter Medical Center in Florida gives patients a 100% discount if their income is less than or equal to 200% of the FPG. If income is over 200% but not more than 400% of FPG, they\u2019ll get an 80% discount. <\/span><\/p>\n

The University of Pittsburgh Medical Center has a sliding scale. If patients have income below 251% of FPG, they\u2019re eligible for 100% assistance. An income between 251% and 400% will get them partial debt forgiveness. <\/span><\/p>\n

Here in California, USC hospitals grant a 100% discount for patients whose income is less than 200% of FPG. Those <\/span>with family income between 201% and 350% will be eligible for a sliding scale discount. <\/span><\/p>\n

Loyola University Medical Center is one of the more generous. The Chicago hospital has discounts for patients with family income as high as 600% of the FPG.<\/span><\/p>\n

Other Criteria <\/b><\/span><\/h2>\n

Besides financial need, eligibility can depend on why you were in the hospital since some procedures, such as cosmetic and dental, might not be covered in your hospital\u2019s program. <\/span><\/p>\n

Also before requesting hospital financial assistance, you must have used all of any insurance benefits you were entitled to. That includes: insurance from your employer, auto insurance, and workers comp. <\/span><\/p>\n

Patients with sufficient assets to pay for care are ineligible for financial assistance.<\/span><\/p>\n

How to Apply <\/b><\/span><\/h2>\n

Hospitals have application forms online that you can download, print, and submit. You\u2019ll likely have to include proof of income with pay stubs and tax returns as well as a list of assets, liabilities, and family members. <\/span><\/p>\n

You have up to 240 days after the initial billing to file your application for assistance.<\/span><\/p>\n

Call the facility\u2019s billing office if you have questions on the application process.<\/span><\/p>\n

And if You Don\u2019t Qualify\u2026 <\/b><\/span><\/h2>\n

There are still steps you can take to get this monkey off your back. <\/span><\/p>\n

The most important: don\u2019t ignore it. <\/span><\/p>\n

Because once a debt like that goes to collections, it can hurt your FICO credit report for up to seven years. And even land you in court. <\/span><\/p>\n

So before your bill is sold to a collection agency, request an itemized statement from the hospital and ask that they put a hold on your account for 30 days. That gives you time to look for errors, such as double-billing and unexpected fees. <\/span><\/p>\n

If you have medical insurance, they should have sent you or posted online an explanation of benefits (EOB) form. Compare it to the hospital\u2019s itemized bill. <\/span><\/p>\n

Is there something that you think the company should have paid but didn\u2019t? <\/span><\/p>\n

There could be a coding error, which may be why it was not paid… <\/span><\/p>\n

For example, removing stitches from a gash on your arm, applying antiseptic cream, and covering it with a bandage at a walk-in clinic could have been coded as a much-more expensive emergency room visit. <\/span><\/p>\n

Or tests done by technicians could\u2019ve been coded as being done by doctors. <\/span><\/p>\n

Or is there a large unpaid amount on the EOB form that you have no idea where it came from? <\/span><\/p>\n

Get on the phone with your insurer and request to speak with a representative. <\/span><\/p>\n

You can also delve deeper by comparing your bill to your medical records to see if the services invoiced were actually performed. <\/span><\/p>\n

Extreme? Perhaps. But doing this legwork could save you thousands. <\/span><\/p>\n

One study found errors in 99% of bills analyzed for 2017. Double-billing for services and procedures were among the most common. <\/span><\/p>\n

Finally, if you\u2019re uninsured or haven\u2019t hit your deductible yet, remember that almost everything is negotiable, even hospital bills. <\/span><\/p>\n

Not sure how much to offer? The Healthcare Bluebook<\/span><\/a><\/strong> lists the fair price for procedures in your area. <\/span><\/p>\n

You might also see if the hospital will let you repay the bill on a low-or no-interest installment plan. <\/span><\/p>\n

And in case you end up in the hospital again, you may want to reapply for financial assistance. Your family circumstances might change, and the FPG adjusts annually.<\/span><\/p>\n

To a richer life,<\/p>\n

\"Nilus<\/p>\n

\u2014 Nilus Mattive
\nEditor, The Rich Life Roadmap<\/i><\/p>\n

The post Before You Pay Your Hospital Bill, Read This<\/a> appeared first on Daily Reckoning<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

This post Before You Pay Your Hospital Bill, Read This<\/a> appeared first on Daily Reckoning<\/a>.<\/p>\n

Have you run up a huge hospital bill that you’re having difficulty paying? You may have already pleaded with your insurance company and battled with debt collectors. But you still can’t get a break. One resource you might consider is…<\/p>\n

The post Before You Pay Your Hospital Bill, Read This<\/a> appeared first on Daily Reckoning<\/a>.<\/p>\n","protected":false},"author":55,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""}},"footnotes":""},"categories":[2828,2829,2830,459,366,2831,1834,1712,1651,923],"tags":[],"_links":{"self":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1120109"}],"collection":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/users\/55"}],"replies":[{"embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=1120109"}],"version-history":[{"count":1,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1120109\/revisions"}],"predecessor-version":[{"id":1120110,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1120109\/revisions\/1120110"}],"wp:attachment":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1120109"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1120109"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1120109"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}