A Penny Saved is a Penny Earned

A Penny Saved is a Penny Earned -
Benjamin Franklin

Wednesday, April 25, 2018

Medical Bills

Medical InsuranceEven minor medical problems can generate a slew of medical bills. Unfortunately, here in the U.S., you pay separately for doctor visits, specialists, procedures, x-rays, lab work. A high percentage of these are usually incorrect.

Every medical visit last year produced an incorrect bill for me!

  • Make sure you keep records of any visits or procedures. 
  • Always ask for a receipt. 
  • Ask for an itemized bill if one isn't sent to you. 
  • Check with your insurance company to make sure it is correct.
  • If you're paying in cash, ask if there is a discount for cash payments.
  • If your company has a health care advocate, contact them if it's a free service
  • Beware of medical credit cards (sometimes they charge high interest rates, especially if not paid within the required period.)
  • Check to see if there is a charity medical care foundation in your area available if you don't have insurance and a low income.
  • Make sure your doctor is within your insurance network (I have found that on occasion the insurance company shows the doctor as out-of-network on the bill when he is actually listed as in-network. If this happens, call and get it corrected)
Note: I budget for medical expenses (along with maintenance and repair) and put a monthly amount in a savings account. It doesn't have to be much but will help with unforeseen expenses and co-pays. If you don't use it all, carry it forward to the following year.

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