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Two million U.S. citizens live in medical bankruptcy

According to a number of studies there are nearly 2 million individuals in the United State living in medical bankruptcy. Furthermore, nearly one in five American adults has trouble affording medical care. While the entire system is unlikely to get fixed over night, there are things that consumers can do make things a little better for themselves. There is hope for Tennessee readers besieged with medical debt.

If consumers are concerned about exorbitant healthcare costs, one way to manage their medical expenses is to use some of the free tools currently available to medical consumers. These tools can help to identity lower-priced providers. While these tools won't not help people who have already incurred significant medical bills from previous healthcare services, it is a good way for financially conscientious consumers to manage future healthcare expenses.

Another important habit to adopt is to review each and every medical bill that comes through the door. While we may place our health in our physicians' hands, that is no reason to blindly trust hospital accountants. From double charges to billing errors, billing mistakes can cost consumers a lot of money. To make matters worse, one recent study found that approximately 80 percent of all medical bills contained at least one billing mistake.

Finally, it is always possible to ask to pay Medicare rates. Recent analysis showed that Medicare is able to pay a 73 percent discount on medical expenses compared to the average hospital charge. This, of course, is the result of Medicare's significant negotiating power. There isn't any clear reason why consumers paying out of pocket should be stuck paying so much more for care. It never hurts to check to see if you may be eligible for Medicare.

Source: ABC News, "Top 5 Ways to Reduce a Hospital Bill," Christina LaMontagne, Sept. 4, 2013

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Mark T. Young & Associates
2895 Northpoint Blvd.
Hixson, TN 37343

Toll Free: 888-376-0282
Phone: 423-933-1606
Fax: 423-877-0363
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