Medical bills can be overwhelming

It’s predicted that Americans collectively owe $140 billion in outstanding medical payments. With all this debt it’s no surprise that many struggle to manage bills and become overwhelmed with high payments.

But, if you have medical debt, know you’re not alone. Not only are many others in the same situation but there are things you can do to alleviate the stress and have a better financial future.

At A.P Accounting & Tax Services we believe that the best thing you can do to start tracking medical debt is to speak with an accountant which is why we’ve outlined our top reasons to contact one below.

Offer Objective Advice 


When you’re dealing with a medical issue, there is often a lot of feelings and emotions involved. These overwhelming feelings tend to be amplified when bills start coming in. People experience things like stress, sadness, and anger about the situation.

With such strong emotions involved, it can make it hard to rationalize and thoughtfully plan ahead. That’s why it’s important to get a third party involved. Someone like an accountant will be able to review the bills on your behalf to see if there can be any cost savings or deductions.

Accountants can also review your current financial situation in order to come up with a budget and repayment plan that works for you. That way, you can focus on getting healthy instead of bills.

Advocate

It’s always good to have people on your side when you have huge medical bills which is why you should choose to work with an accountant. An accountant is someone that can guide you through the process and who will be able to review your medical bills with a clear head.

Accounts can also review the bills to see if there are any errors like repeat charges. They may also be able to flag things that have been billed to you but are covered by insurance. Ultimately, offering a second eye to make sure you are only repaying what you actually owe.

Suggest Alternative Resources

A professional may be able to suggest alternative repayment resources. For example, many hospitals offer hardship assistance and charity care programs that you might not have known about. To be eligible, all that you usually have to do is contact the hospital and ask to speak with the billing manager.

If you are low-income, be sure to mention this to them as well. That’s because certain hospitals are required by state law to provide low-income patients with free or discounted medical care.

Negotiate

Accountants will also be able to offer negotiation advice if you choose to try and negotiate your bill. A professional accountant can review the charges and your finances in order to determine a fair repayment plan that won’t leave you broke.

A common strategy that people use to negotiate their bills is to compare the charges they received to competing insurance providers in the area which is something a financial professional may be able to help with.

Ultimately, if you are someone that’s drowning in medical debt, consider contacting a professional accountant. Asking a professional, like us at A.P Accounting and Tax Services. can alleviate some of the stress and worry that comes along with medical bills. So, instead of struggling to manage bills on your own get a plan in order with the help of an accountant. 

To know how to begin give us a call at 407-328-5001.

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