Many people in America today are suffering because of medical debt. Medical debt can lower credit rating, making it harder for people to refinance their homes and receive approval for mortgage loans.
Some people do not even realize that they have an unpaid medical bill. For example, suppose you need to call an ambulance for some reason. Perhaps you fell down the stairs or perhaps your child fell out of a window or ran his or her bike into the shed. You call the EMTs and go to the hospital. After dealing with the crisis, you return home, thinking you can pick up where you left off. Over the course of the next several months, however, you repeatedly receive phone calls from the hospital telling you that you owe them money. You then call your insurance company and the person who answers the phone assures you that the bill has been paid. You go round and round with the hospital and the insurance company—the hospital claiming you owe them and the insurance company saying you are covered. Finally, to put a stop to the merry-go-round, you pay the bill yourself. Several years later, you decide you want to purchase a home. To your shock you discover that during the months you and the hospital disputed your payment, the 200-dollar bill was sent to collections. In spite of the fact that you already paid the bill, your credit rating has dropped by over 100 points. The resulting blemish on your credit rating can become a permanent stain, crippling your ability to make large investments.
A medical system that allows such horrible glitches is one that needs a serious overhaul. The President has proposed changes to the health care system that fall under the name of the Affordable Care Act. The Affordable Care Act—or Obamacare as it is popularly known—is a complex combination of new regulations and policies. While Obamacare is seen as the answer to many of the problems in today’s medical system by some, it is seen as adding insult to injury by others. In addition to raising insurance costs by forcing insurance companies to cover all who demand medical procedures, Obamacare will also decrease the number of practicing doctors in the United States because of the rising costs of patient treatment.
Medical debt assistance is especially critical for many people in these days of rising prices. These companies assist people who need help with medical bills by:
• Providing additional resources to those who are struggling to pay medical bills
• Helping the debtor understand his or her legal rights
• Guiding the debtor through the process of paying a medical debt
• Providing customized information to help the debtor find the best solution
Check out this non-profit company, Navidebt, that’s dedicated to helping those who needs medical debt relief in this tough economy.