I’m just finishing up a big case for our Medical Debt Reduction program.
It’s interesting to see what the medical industry is doing to confuse people into paying more than they owe.
It disgusts me, to be frank.
Time and again, here is what I see:
- First, medical bills sent with a GIANT, bold, Red “You Owe” on them when the biller hasn’t even filed the claim with the insurance company yet.
What happens then?
In about 50% of cases, maybe more, the bill gets paid by the consumer as they think the insurance company didn’t pay.
Then they grumble about crappy insurance.
When, in fact, the insurance company ALSO paid.
Does the medical biller refund the consumer’s money?
No, they do not.
- The next thing I see is when the insurance company pays and they send out an EOB. EOB stands for Explanation of Benefits.
Most people throw it away.
Please, save it!
That EOB tells you what was billed by the medical people, what the insurance paid, and what the consumer now owes.
Then, after that nice record of what you really owe out of pocket is in the trash, covered by coffee grounds and an apple core, what will you use for proof that the insurance company paid?
- Next thing you know, the old medical biller is ignoring the insurance payment they received (oops! Accounting error…) and sending you a reminder bill for the full amount.
You didn’t save your proof of the insurance company paying, and you don’t remember, so you pay the medical biller again.
By this time, the whole thing is a mess, right?
The medical biller is raking in the big bucks and their CEO is making millions, while the consumer goes broke.
- Or, the consumer ignores all of it hoping it will ‘Go Away’.
That’s what my client did.
Over $ one half million in bills. Yes, that’s $500,000.
And they wonder why the phone is ringing off the hook and the letters are now coming from collection companies AND the medical billers.
Ignoring medical bills, tossing the EOB, and hiding out waiting for the storm to pass is a sure way to ruin your credit score, end up getting sued, possibly losing your home, or going bankrupt with medical debt you might not even owe.
My client actually owes about $7600.
Remember, we started with $500,000 in bills.
Does this break your heart? It does mine.
Their insurance paid or we negotiated away the rest.
The insurance did what they were supposed to do (and believe me, I double-checked!).
I did what I’m supposed to do.
My client can rest easier knowing what to pay and when to calmly say “The insurance paid you for that. Did you record their payment correctly?”
Don’t wait for medical bills to ruin your finances.
Get a handle on them sooner rather than later.
And when threatened by the collection agency or medical biller, refuse to crumble.
Only pay what you truly owe.
Check out our Medical Debt Reduction Program for great results.
It’s done-for-you and we know what to do to help resolve these bills.
Reduce Frustration. Save Time. Get Better Results.
©2023 Ronda Cobb, the Money Coach