How to Negotiate Medical Bills and Lower Your Healthcare Costs

How to Negotiate Medical Bills and Save Money

Learning how to negotiate medical bills may help you reduce healthcare costs and avoid paying more than necessary. Healthcare pricing in the United States can be difficult to understand, and the amount listed on a hospital or medical bill may not reflect what insurance companies typically pay.

Before paying a large medical bill, take time to review the charges, ask questions and explore the discounts or financial assistance options that may be available.

Request an Itemized Medical Bill

One of the most important steps is requesting an itemized medical bill. This document should show each service, procedure, medication and fee included in your total balance.

Carefully review every charge and look for possible billing errors, including:

• Duplicate charges
• Services or medications you did not receive
• Incorrect procedure descriptions
• Charges that should have been submitted to your insurance company

If something appears incorrect, contact the provider’s billing department and ask them to review the charge before you make a payment.

Ask About a Cash-Pay or Self-Pay Discount

If the bill is accurate but still seems unusually high, call the hospital, doctor’s office or medical provider. Explain that you are reviewing your payment options and ask whether they offer a cash-pay or self-pay discount.

Some healthcare providers offer lower prices to patients who are paying without insurance or who can make a lump-sum payment. Discounts vary, so ask the billing representative to explain every available option before agreeing to a payment amount.

Try to Negotiate Medical Bills Before Paying

Medical bills are not always set in stone. A LendingTree survey found that 93% of Americans who attempted to negotiate a medical bill reported receiving at least some form of financial relief.

When you call, remain polite and clearly explain that you would like to resolve the bill. Ask whether the provider can reduce the balance, match a lower self-pay rate or accept a smaller amount as payment in full.

Do not assume that a discount is guaranteed. However, asking about your options may help you uncover savings that would not otherwise be offered.

Explore Payment Plans and Financial Assistance

If you cannot pay the balance in full, ask whether the provider offers an interest-free payment plan. Many hospitals and medical practices allow patients to spread payments over several months.

You should also ask about financial assistance or charity-care programs. Eligibility may depend on household income, family size, insurance status and the provider’s policies.

Review, Question and Save

Taking a few minutes to review and negotiate medical bills could result in meaningful savings. Start by requesting an itemized statement, checking for mistakes and asking about self-pay discounts, payment plans and financial assistance.

For more helpful ways to spend smarter and save money, visit South Florida Savings Guy.