Medical debt is one of the major causes of consumer bankruptcy that many consumers have to contend with. Consumers who suffer serious illnesses do usually suffer from excessive medical bills. In such a situation even a health insurance can’t cover the total expenses of medical care.
Without health coverage medical bills can build up to such an extent that no patient can afford to pay them. In fact, those people who are already having difficulty in paying other types of debts, they often have to stop paying medical insurance to cover their other financial needs.
Medical Debt Collection
There are some cases where consumers need special medical care and this can amount to a large sum of money, which sometimes are not covered by any medical insurance. This is the main explanation of personal bankruptcy caused by excessive medical bills.
As the medical practitioners are getting tougher on having this debt paid, if you are one of the consumers who face excessive medical bills you will be getting a visit from a debt collector or the collection staff of your medical practitioner.
They may resort to all means available to them to recover their money, which might include seizing your assets and freezing your bank accounts.
Risks of Unpaid Medical Bills
In many instances patients cannot get medical care simply because they haven’t paid the past due debt. They can only get medical attention that they need if only they offer cash upfront payments.
This is also happening to people who have had ongoing medical care and have been unable to pay the full amount of that care to date. Medical practitioners even refuse to care for serious health problems due to monies owing.
The Importance of Having Health Insurance Coverage
So, always try to keep some form of health insurance coverage. Find out whether you can qualify for medical discounts, which usually apply to people on low-income and those who don’t have any form of health insurance. If so, make the most of these facilities.
Consider getting Medicaid which is available in most states to help cover any future medical expenses and help to pay medical bills up to three months old.
If you have past due medical debt, ask if you can set up an installment plan to pay off the debt to allow you to continue to receive medical care from your practitioner. Look at all the available options to keep up proper health care.