Filing For Bankruptcy Due To High Medical Bills

High medical bills are among the numerous reasons why people file for bankruptcy. This is often the case in various cities in the US. The reason is very obvious; there’s a high cost of health care services all over the US and beyond. Medicare is never cheap yet, it’s still something you can’t do without. It’s necessary for the maintenance of life. Medical bills can actually become very high that you may even lose hope of paying them off. If you find yourself in such a situation, filling for a bankruptcy is the best option you can take. It can easily help you to resolve issues regarding the medical bills and also help you to begin anew.

There are several options you can take when you decide to file for bankruptcy. You need to begin with the common types of bankruptcy that can be of help.

Chapter 13 Bankruptcy is one of the best options to go for. It allows an easy repayment plan for individuals. You can always benefit a lot from this type when you go for it.

Chapter 7 Bankruptcy is also another better option to go for. It’s actually the most popular when it comes to medical bills. It’s simply a straight or liquidation bankruptcy. It deals with the liquidation of an insolvent company and the onward distribution of any remaining assets. You’ll also benefit from that when you know the details.

Chapter 11 Bankruptcy is yet another unique option for most people. It allows an insolvent company to be reorganized. It also offers the repayment of debts and the creation of brand new corporate entity.

Any of these types of Bankruptcy will always be of help when you check them out. It’s also important you know a lot about credit card debt consolidation if you want to receive more help for dealing with high medical bills. You’re sure to gain a lot from that when you discover the processes involved.

To be on a safer side, it’s important you seek for proper guidance in filing for bankruptcy due to high medical bills. You need to secure a profitable bankruptcy advice from a reliable outfit. There are several bankruptcy lawyers out there who can as well help you. If you’re able to arm yourself with useful pieces of information concerning bankruptcy filing, you’ll always have a smooth ride when you go for the right type.

There are several options you can take when you decide to file for bankruptcy. You need to begin with the common types of bankruptcy that can be of help. Chapter 13 Bankruptcy is one of the best options to go for. It allows an easy repayment plan for individuals. You can always benefit a lot from this type when you go for it.

Reasons Why You Are Applying For Medical Bankruptcy

Do you know that the high medical bills are one of the reasons why bankruptcies are happening? This is one fact of life that is hard to accept but it is really happening in real life. There are many families who are left with no choice but to give up everything they have just to be able to settle their huge debt in the hospital where one of their family members has been confined.

For sure, you do not want to experience the situation above where you will be detained by hospital and will not allow you to get out and walk away from their premises without paying and settling your entire medical bills first.

Fortunately, you will no longer worry about this stuff because of the availability of the medical bankruptcy application. This is a particular program that you can take advantage of as it will help you to deal with your debts even if you do not have any cash inside your wallet.

For sure you are becoming interested with this subject and you want to know more about it. This reaction is also the same with the other people who have also heard about this beneficial medical application.

However, before you could have a taste of the benefits of this bankruptcy program, it will be much better if you will know when you should file for your application on this program:

The following are some of the methods that will tell that you need to do your bankruptcy application:

– You have no money – this is the common reason that you will encounter from the people who have applied for this program. If you will be in a situation when you have to pay your medical bills but you do not have money as you have been laid off prior to your hospital confinement, then the best thing that you can really do is to know how you can apply for the medical insolvency. This will somehow free you from the worries of needing to pay the bills immediately. Once your application will be approved, you can walk away from the hospital premises unscathed.

– You still have past debts to pay – this is also one of the common reasons why a person will have no choice but to file for this medical program. The fact that he has still some past debts that he needs to pay will surely make him decide to file for the medical bankruptcy without any hesitation. With the help of this program, you will be given the enough time to find a job that will enable you to repay and fulfill all your medical obligations.

Now that you know some of the important facts about this great medical program, now you will know why most people are so grateful with it. So, if by any chance you will have problem in your medical bills, you already know what to do.

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Who Is Affected?

At this time, there are many things that give a difficult to many individuals and also to families. It can be in the simple form of paying monthly bills and also the daily necessities of each family member particularly to those who need to go to school. And this is why there are an increased number of people who are filing for bankruptcy. Their main reason is because of the economy changes which affected their income or even experienced unemployment which is one of the common situations at this time.

If there are people who are filing for bankruptcy because of the tight situation they are in and for not having the capability to pay for the bills and other things that involve house payments, another kind of bankruptcy known these days is the medical bankruptcy. It is not a new that many individuals are also filing for this type or field, however with the entire bad economy situation the number of the people who filed for it also increased. Of course the unemployment the increased prices of products affected many families especially the ones who are in a tight budget and is only a minimum wager.

Medical bankruptcy is commonly filed by middle range families or the ones who only earns by the minimum wage. And being hospitalized even just for a few days could be very difficult for them because the laboratory tests, medicines, and confinement will surely cost a lot. To add more, having no insurance policy for your family could also be a problem, but then again acquiring insurance would also cost money and would be difficult to pay. And this is why many have resolved to the option of filing bankruptcy to aid the problem in the mean time.

On the other hand, it does not mean that a person who already has an active insurance policy would escape the grasp of bankruptcy. We all know that to be sick is very expensive. Once you get to the hospital, you will have to pay for a lot of transactions will really rip a lot from your income making you whole budget tight or not enough. If you are just in the hospital for a small check up is fine, however in cases that the person have to go through intensive examination and laboratory tests, it will absolutely cost a lot.

Filing for medical bankruptcy can be prevented by keeping your own self healthy and good condition. And by adding a personal insurance policy to the list could even lessen the chance for you to file for it. However, in cases that you have no other choice, keep in mind that this option is available for you to take but some consequences will be held. But as long as you prevent having medical problems, you can prevent uprising bills that can lead you to filing for it, but of course nobody could tell what is going to happen. That is why try to prevent it as much as you can even in your own simple ways.

How to Avoid This Medical Decision

Let me introduce you to Cari; a teacher, loving wife, and mother of two young children whom was recently diagnosed with crohn’s disease and prescribed infusions. Cari, assumed her insurance policy covered these treatments until she received a bill for close to $20,000, and that was for ONE treatment. She would have to continue these treatments every five weeks!!!!! After not much success, Cari reached out to me in panic, and we managed to get her bill down to $411 with some of the following tips:

1. Get into your Zen: The last thing Cari needed was an ulcer. With a few deep breathes and a plan of action in place, she was ready to tackle this “billing monster.”

2. Get a copy of the itemized bill and medical records: We were able to uncover some billing mistakes, but get a “clearer picture” of what was being done and if there were any options. In Cari’s place, it looked like her insurance rejected part of the bill because the infusion center was not covered by her insurance.

3. Talk to the right person: Some facilities have patient advocates or social workers that can help find other options for payment. Cari was able to verify what we discovered through an advocate at the facility. In addition, the advocate pointed out some additional insurance options that Cari was qualified for, but not taking advantage, so we immediately filled out all the paperwork with the help of the facility and got her on the correct plan within 2 months.

4. Talk to your prescribing doctor: Maybe there is an alternative medication or cheaper treatment? In Cari’s case, she had an adverse reaction to alternative treatments, so that was not an option. In some cases, the prescribing doctor may have free samples (usually about 2 months worth) that he/she can provide you with until a financial solution is figured out. Cari’s case was a little more difficult since she was in need of a biologic which tends to be a little more complicated therapy since there are many factors involved including an infusion site.

5. Find out what financial assistance programs are out there: There are plenty of “patience assistance programs” and/or “financial need programs” that are available for all situations. Familiarize yourself with these programs and get qualified as soon as possible. Some websites that may be helpful include: NeedyMeds, together Rx Access, or a State Pharmaceutical Assistance Program.

6. Go straight to the manufacturer: Many larger manufactures have an “Access Services Manager” or someone equivalent that can help guide you through the process of qualifying for some of these access and affordability programs. Cari found Kim, an access services manager for the Remicade she needed by going to the Janssen Pharmaceuticals, Inc. website and calling the 888 number provided. For those that are not as savvy, the prescribing doctor can help provide you with the correct number by contacting the representative they deal with from that pharmaceutical company.

7. Be pleasant and prepared: Before initiating any calls, take a deep breathe and be sure you write down the following information so you can provide it in a cohesive way when the representative asks, which will make the call pleasant and quick:

Your name and contact information
The pharmaceutical prescription
The desired location if needed
Insurance information (if you have insurance)
Your income level (a copy of your W-2 can provide this information)

Some programs may require additional information, and you may not get the correct person on the phone the first time. Be patient and be persistent. If your blood starts to boil, hang up and call again when you are calm, or have a loved one call with you.

8. Take notes: Get the person’s name and contact information if possible. Document the date and time of the call, and summarize what was said, including any additional instructions given to you as well as when the person may call you back. In Cari’s case, we were asked to call back to get an update on what Kim was able to find out regarding her situation. In conclusion, Kim was able to locate a site that was accepting her insurance and determine that this site was accepting new patients. Kim also enrolled Cari in an additional free service to remind her of her infusion dates.

9. Breathe and get started: Now that everything is verified, Cari is able to get her infusions and NOT go into medical debt. In addition, she knows to ask for an itemized bill and a copy of her medical records after each infusion, so she can keep track of her bills and be sure there are no mistakes. If there is a discrepancy, she has her access service manager, Kim to help her work it out and avoid an ulcer.

Today, Cari is an empowered patient with no medical debt and an infusion center that is convenient to her house that is covered by her insurance.

Find Some Hidden Expenses in Your Car Insurance Such As Healthcare?

Chances are, if you own a car, you might be paying for some unnecessary “extra options.” For example, if you already have health insurance, why does one need the “medical coverage” under car insurance? Have you ever asked your car insurance company what this means? So what if you get into a car accident and you are injured? Will your current health insurance wait for your car insurance to kick in because you have this “medical coverage,” thus delaying claims? How long will this be delayed, and will this affect your health insurance coverage because of a “lengthy delay,” costing you more out-of-pocket medical expenses because you missed the submission day? It all sounds to familiar, right? But if you do not have health insurance and you are injured in a car accident, this “medical coverage” can help pay for some of your medical bills (it did for me).

In general, this “medical portion” of your car insurance MAY cover the following, but be sure to ask your car insurance representative to explain:

Some funeral expenses
Passengers that might be hurt while you or a family member is driving
If you are an injured passenger in someone else’s car
If you are struck by a car while walking or cycling
If you require dental care after an accident
If you require extended nursing services or hospitalization while rehabilitating
If you require prosthetic limbs

So if you are doing some “summer cleaning” and you are trying to uncover some cost savings because you are worried about that mysterious increasing premium under your health insurance, be sure to call your car insurance and start asking questions (and be sure to document the answers).

Start with these warm up questions: Do you really need the rental car option if you have a new car? How does that loss of income actually help you and in what situation? When does that bodily injury actually kick in, and what part of your body?

When you feel warmed up to the point that the car insurance representative is sweating, start asking about the “medical expense payments.” What is the bare minimum requirement needed in your state? What does it cover? How does it compare to your current health insurance? When does it kick in?