Make sure that you have proper medical insurance. More often, that not, your medical provider, and insurance company can get into negotiations, especially if your medical bill is delinquent. It can end up going to collections and then your credit rating will be affected for 7 years. If it is because of their mix-up and it should be have been paid by either party, make sure that you get it sorted out as soon as possible.
Have a Reserve
It is important to have an emergency reserve on hand, should you lose your job. You should think about squirreling away enough money to tide you over should you lose your job. Having a credit card with a high limit reserve can help in emergencies.
Medical Plans through Employers
Some companies offer various plans in regards to medical insurance. You can have a portion of your salary put aside for medical expenses. An example would be to have $200 taken out of your paycheck on a monthly basis. This way you will have $2400.00 for medical expenses for that year.
Power of Attorney- Have a trusted spouse or family member to take care of your financial matters, when you are sick in the hospital. This way a spouse or family member can work on your behalf until you have fully recuperated.
Go over any insurance policies to see what services you will have to pay for. When you get a bill, make sure to look at it thoroughly to make sure there are no errors. If there is something wrong, make sure that you get it straightened out as soon as possible.
Pay your bills – If you can afford to pay your medical bill, even if it is an error, make sure to do so. You can help to keep your credit report clear and negotiate with your insurance company afterwards.
Clearing the Collections Bill- If you have acquired a bill that you could not afford to pay, and it was sent to collections, settle the bill by arranging to pay the bill off in full. Some companies also permit you to make an agreement to part it off in portions. If perchance, a bill that is in your name was sent to collections, and you never received the bill, you can dispute it. This will help to clear your credit score.
Most hospitals can write off your medical expenses as charitable causes. Look to find out how you can become part of their charitable causes.