Medical bill relief is a much needed commodity for many American consumers. This is especially so for surprise medical bills, as this Fortune Magazine article reports. The reason medical bills can cause such financial chaos is simple. Medical bill are expensive. Really expensive. And it is only getting worse.
Much of the need for medical bill relief is related to healthcare insurance changes. With the implementation of the Affordable Care Act (Obamacare), millions of Americans’ medical insurance plans changed. The changes typically involved higher costs and fees. With the increased costs came decreased coverage for many. This resulted in medical bills. Medical bills consumers thought were covered by their insurance. But they weren’t.
Ambulance bills, once considered covered by insurance, no longer were for many new medical insurance policies. An extra $1,500.00 for an unanticipated health emergency could soon result in a financial emergency. Medical bill relief for many became a must.
Medical bills are rarely welcomed or invited. But collection efforts for medical bills can be some of the most aggressive. Collection companies often contribute to the problem facing many in need of medical bill relief. Expensive medical bills are a problem. A big one. Pressure to pay these bills can be bigger. Lawsuits often result. Perhaps even a bigger problem.
What, then, can be done? Paying them is an option. But not a good option for most. Not paying them can leave you in peril. But this is the only option for too many. Bankruptcy may be the only option. But it is a good one. Medical bills are unsecured debt. This means they can be discharged in a bankruptcy. Discharged debts are eliminated. You are legally relieved of these debt. This is a big benefit to those in need of medical bill relief. Bankruptcy may not be anticipated. But neither may be medical bills.