How to Save on Hospital Bills

The relationship between hospitals and insurance companies is complicated and most patients put their trust in the system. This article will give you better insight into how the system really works and you may even find ways to pay less on your medical bills.

Instructions

• 1

  Compare hospitals. Most patients think hospital charges are set in stone, but they aren't. If you need to have a procedure done in a hospital, check with all the hospitals in your area to get a price from each on that procedure.

• 2

  Ask for two prices. A tightly held secret in the hospital industry is that there are two prices for every procedure: a cash price and an insurance price. When you call for the price, the hospital will first ask who you're insured with. The insurance price is much higher than the cash price. Ask for the cash price first, then ask what the insurance price is. You don't have to say whether you are insured. If asked, say you have to check to see whether you are covered.

• 3

  Check your coverage. See exactly what your coverage is from your insurance company. How much of the hospital charge is taken care of? Do the math and see if, including any deductible you may have, you will have an out-of-pocket expense. Is that higher or lower than the hospital's cash price? You'll be amazed that quite often the cash price is lower. That's right: sometimes it's cheaper to not use your insurance coverage.

• 4

  Review your final bill in detail. Go through the final bill with a fine-tooth comb. Taking the time to read each individual line can save you money. Often, you'll see one tab of Tylenol is charged at something like $6. That is a screaming invitation to negotiate.

• 5

  Call the hospital and ask to go over your bill. You may find that as soon as you point out that $6 dose of Tylenol on line 12, the hospital will immediately offer a discount.

• 6

  If you don't get the discount right away, say that you can't pay in full and that you need to make payments. The hospital may offer a cut in price for payment in full.

• 7

  Relax and feel better. Now you can recuperate with the comfort of knowing your wallet will heal right along with you.