Learn to Save Money on Medical Costs

May 15, 2013

There’s often no rhyme or reason when it comes to what hospitals charge for medical procedures.  They can pretty much charge whatever they want to and do just that.  The evidence comes in the form of widely varying rates charged for the same procedure in the same geographic area.  ABC News examined the issue of inexplicable medical costs, while trying to help one family figure out how to save money on a tonsillectomy for their little boy.  Click here to watch.

Tips for Lowering Your Medical Bills

 

More than 25% of Americans say they struggle to pay medical bills, according to a Kaiser Family Foundation poll.  Part of the problem has to do with a serious lack of transparency from those providing medical services on how much things cost. Even when you try to be a responsible consumer, hospitals and medical facilities make it tough.  Many times, they refuse to tell you how much a procedure will cost in advance.  That makes it difficult for patients to shop around when it’s not an emergency procedure.  But there are new ways for consumers to fight back.

Rule number one: Question your bill!  Don’t assume the charges are accurate. As many as 8 out of 10 bills for health care services contain errors, according to Medical Billing Advocates of America.

Click here for more tips from Time Magazine  on how to lower your medical bills.