We are coming to the end of the year, and many people are more concerned about credit card balances than other expenses. We understand that Christmas is the season for slapping the plastic around, but gift buying is only one concern. Additional costs can train wreck a family budget, and one of these is medical costs. These may require some creative management strategies.
Paying The Bill
No, you do not have to pay your EOB statement. That is the Explanation of Benefits, and it is meant to inform. But there are medical bills that could scare an ordinary person half to death. Costs can be in the hundreds and thousands of dollars, and it is easy to panic. No one should do that, and it requires some careful thought to prevent a medical procedure from destroying financial wellness. However, there are some things that a patient can do.
- Don’t Use Your Credit Card
Hospitals will charge interest on unpaid balances, but the interest rate is ordinarily lower than what a credit card company will charge. Small bills ought to be paid with cash or by check if possible.
- Negotiate with the Healthcare Provider
Hospitals and other healthcare providers want their money, and that’s it. They are willing to negotiate a payment plan that allows the bills to be paid at a convenient monthly amount. It doesn’t take a lot to get them to agree.
- No Contact Letters Help
Healthcare providers will turn unpaid bills over to a bill collection agency. These companies are notorious bullies and will badger a person to pay the balance. No one must be afraid of them or their threats. A do–not–contact letter can be drafted and sent to the collection agency. A person can also ask the collection agency to contact the accounts receivable department of the healthcare provider, who will then inform the collection agency that a payment plan has been created.
A person may have already paid all the required deductible for the calendar year 2021. It means that insurance might partially or fully cover medical costs for the rest of the year. If possible, medical treatment, including surgeries, should be scheduled within the remaining weeks of the year and not carry over into 2022.
Good employers know that financial wellness is a significant worry for hard-working employees. Any professional assistance with managing the hospital bill will be appreciated, and a third party will provide the help. Countrywide Pre-Paid Legal Services has a financial wellness benefit that addresses common money challenges.
Countrywide Offers Help at The Right Time
The national network of certified counselors will deal with common financial problems. Each community that has a Countrywide client also has a Countrywide counselor.
The counselor helps a plan member deal with medical bills. The advice given by a counselor is based on years of experience. Our professionals will suggest how to negotiate with healthcare facilities, how to adjust personal budgets to meet medical payments, and other strategies to manage medical debt.
The financial wellness plan member decides what will be done. For example, if the person wants to pay off a major bill at once, a Countrywide counselor will perform an asset inventory. This uncovers what can be sold (E. G. Collectibles, whole life insurance policies, etc.). The inventory helps provide the cash needed as soon as possible.
Clients Make Decisions
Employee benefits must be used, or they are worthless. We are not familiar with the composition of the workforce, so we ask a prospective client for help. Countrywide explains all the financial wellness options in detail. We answer all questions. The organization then decides what benefits will be in its plan. We furnish administration and financial wellness member services.
If you’re interested in what we have to offer, please feel free to contact us at your earliest convenience. We can help your employees deal with medical debt and other financial challenges. We welcome any opportunity to explain who we are.