update on medical bills
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update on medical bills
| Wed, 10-19-2005 - 12:35pm |
Hi, everyone. Well, small update. Called all of the medical bill people. Updated information for them. New law---they can no longer use your social security number as your ID # on your insurance card (HIPPA rules), so there has to be a group or individual ID. So far, I dont have to make payments to the hospital (yet) until they do the billing! However, I am going to check into medical savings accounts. Has anyone used them, or let it go "dont use it-lose it" scenario. It used to be you had to use it all by the end of the year, but now, you can use it until March 06. Am also going to start saving $$$ just in case it is denied. Thanks again for all tips. Am going to write suggestions down you all gave me so that I have it handy.Whiz.

Whiz -
You can tell them how much a month you are able to pay, so I wouldn't kill yourself with saving money if it will be tight on your budget. They don't charge any interest rate and it doesn't go to your credit report. I know that since I have med bills and my credit report says that I have no accounts past due. I had some bills I paid only $10 a month, and the largest I pay just $75. Just keep calling your insurance company to see if there has been a resolution.
Keep us posted.
My own personal experience with the medical savings account was negative.
I just didn't like it at all. I tried it for one year and found it frustrating to actually receive the monies. Also, the use-it-or-lose it thing irks me. It's MY money (I didn't lose any, but it still just bothered me knowing that that was the case).
Other people have spoken very highly of the medical savings plan offered by their companies, and even within the company I did it with some folks liked it and some didn't. I would not do it again, but because of the mixed experiences with folks, you might give it a whirl. Just make sure you don't put more in than you reasonably KNOW you're gonna use.
Medical billing is the absolute WORST. The absolute WORST. (Although, there are some pretty ugly horror stories surrounding credit cards companies and the bottom-feeder collection agencies). Lord, I hate debt and that is why I'm going to eliminate it from my life forever (medical is kind of unavoidable though, from time to time in our lives).
Good luck.