Health Insurance Broker Advice for Settling Health Expenses

Medical spending continues to increase, making covering bills more difficult for everyday people. However, you're not without options. Consider how to lower your bills using negotiation tactics and discover how a health insurance broker can help.



Seeking Advice From a Health Insurance Broker

A health insurance broker is a professional who understands the ins and outs of the healthcare marketplace and can help patients find the best deals. Price is not the only factor for health insurance. Two plans with the same premium may cover different items and have differences in copays and out-of-pocket expenses.

Insurance only gets more complex with changing laws and requirements. An expert can help you find affordable individual and family plans that meet your needs.

Searching for Government and Hospital Resources

Numerous sources exist to help patients ease the burden of medical care. Low-interest loans and financial reimbursement programs can assist those with limited income or extenuating circumstances.

Medicaid and Medicare are traditional federal insurance plans for low-income folks. In some cases, Medicaid can even assist with bills you accrued before you applied for the service. Your health insurance broker can help you determine which benefits you qualify for.

Many hospitals work with nonprofits and other charitable causes that help individuals eligible for aid. Sometimes assistance is dependent on the type of illness you have. Other organizations provide access to specific medical services and devices.

Don't forget to consider what help might be available from local groups in your community. Neighbors may be able to offer a little support, and crowdfunding has raised billions of dollars when people do it correctly. Research your options and apply for anything you might be eligible for.

Working With the Right Billing Party

It may shock you to learn that your doctor doesn't always know the cost of your treatment. Many hospitals have a separate financial department that handles all accounting so doctors can focus on providing the best care. A health insurance broker may have informational materials that explain more about how these systems work.

Medical teams might also outsource billing to a third party. This arrangement is often how groups of specialists deal with payment. Whatever the case, ensure you're talking to the right people when you work out a payment plan or bargain for better rates.

Finding Prescription Drug Discounts

Online pharmacies and nonprofit groups offer greater access to low-cost medicines. Your drug manufacturer may even have a charity care program that you can apply to for assistance.

Verify the safety of online pharmacies before ordering. Your doctor or health insurance broker may even be able to give you some advice in this regard.

Negotiating a Discount Plan

Some creativity and flexibility can open up other options. You may be able to defer paying on other loans to put down cash for health expenses. Share your income and budget with whoever is in charge of your billing to demonstrate your need.

One way to cut payments is to ask for a longer payment period. Show good faith by paying what you can while working out a deal. Even if you can't cover an entire bill, you can stave off the collections process by offering something. Remember to be honest about your situation so the responsible parties can provide sufficient help, whether that's your doctor, medical billing department, or health insurance broker.

Understanding the Explanation of Benefits

The EOB explains the care you received and the charges for the treatment. The document isn't your bill, but it should correspond to the charges on your invoice. Ensure you get a copy of this form any time you leave a care facility.

Since your insurance company processes the EOB, you may receive more than one if different specialists treated you in a single visit. If the information doesn't show a payment from your insurance company, you may have to wait on the processing to catch up. Reach out to your health insurance broker or insurance support line to clear up any discrepancies.

The EOB can also help you find coding errors on the bill. Medical coding is complex, and mistakes slip through more often than people realize. Checking for issues can save you from paying charges you don't owe.

Coordinating All Parties

Share your situation with your doctor, insurer, assistance program, or medical biller. Keeping everyone on the same page is another way to avoid mistakes and challenges.

Work with your health insurance broker and care facility before an issue arises to determine which institutions and practitioners accept your coverage. If you negotiate a rate with the help of a charitable service or some other program, double-check your documents to verify the terms are as you agreed upon.

Finding Assistance From a Trustworthy Health Insurance Broker

Medical bills show no signs of getting any less expensive. Look to a trustworthy health insurance broker who has your interests at heart. For additional information on how to determine the right plan, contact our team at Sackett & Associates Insurance Services. We guarantee you'll talk to a human and receive exceptional service.