Are you struggling with debt? Before you pay, try negotiating your medical bills. It could save you a lot, according to Maribel Aber, a correspondent for CNN’s Money Matters.
First, use in-network providers whenever possible. She explained that they usually keep costs lower, helping you avoid surprise expenses.
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Aber recommends that you keep all your treatment paperwork organized. When your bill arrives, ask for an itemized version and review it carefully. Mistakes and accidental double charges happen more often than you think.
A University of Southern California study found that 74% of patients who spotted errors got them corrected. Even better, 62% of those who simply asked to pay less saw their bills reduced.
Next, call your provider’s billing office. Ask about payment plans. They might offer interest rates lower than your credit card, Aber said. Also, check if there’s a lump-sum discount or financial aid based on your income.
If your medical debt is already on your credit report, consider a consolidation loan to lower your monthly payments. According to Aber, the key is to double-check your bills and ask directly. Negotiating could lead to substantial savings.