What should I do if I get an unexpected medical bill?

“According to my experience, around 60% of hospitals will reduce invoices from 25 to 40% if you simply ask and even show a modest financial need,” explains Andrew Lokenauth, financial advisor and founder of TheFinanceNewsletter.com, based in Tampa, Florida.

Make sure you have as much as they say that you do it and review a detailed invoice. “I found a fees of $ 3,000 for the drugs that my client did not receive. The billing service has corrected the error, ”explains Lokenauth. “I saw countless cases where hospitals accidentally charge the uninsured rate ($ 1,500 for an MRI, for example) instead of the negotiated insurance rate (around $ 400). It’s an easy $ 1,100 to save over there. ”

A strategy that works consists in paying a lump sum immediately in exchange for a discount. “Most billing services have the power to reduce invoices by 20 to 30% if you pay immediately. I even saw some accept 40%. They prefer to be paid for something, ”explains Lokenauth.

According to his experience, the key to negotiation is to act quickly. “The more you wait, the less options,” he says. “Whatever you do, don’t let medical invoices go to collections without trying to negotiate first – which can destroy your credit scoring for years. Do not forget that everything is a negotiation: laboratory costs, installation costs, medication costs.”

Lokenauth advises to get everything in writing. “Verbal agreements do not mean anything in medical invoicing. Make them send promised discounts or payment agreements, ”he says.