Medical Articles & News

3 Ways to Avoid Medical Debt

March 1, 2023 by Christopher Wolfington

3 Ways to Avoid Medical Debt

Medical debt is a growing issue that affects individuals and families across the nation. Many people struggle to pay their medical bills due to rising costs, coverage gaps, and unexpected expenses. As a result, they end up with massive amounts of medical debt that can be difficult or even impossible to pay off. Fortunately, there are several steps to avoid medical debt you and your family can implement.

FinPay for patients offers solutions that help ease the stress and uncertainty of medical expenses. Email to find out how our automated pre-care engagement can help you avoid medical debt and associated consequences.

1. Understand Your Insurance Coverage

It is important to understand your insurance policy. Look at it carefully to make sure you know what is covered and what is not. Some tips for reviewing your policy are:

  • Read all of the documentation
  • Ask questions if something doesn't make sense
  • Look for any extra fees you might have to pay out of pocket

Often, people neglect to renew their policy after a set time period and don't understand the limits of their policy. This can lead to overlooking any hidden fees or additional costs that may be associated with certain services or creating lapses in insurance coverage. Hidden fees and periods of non-coverage can cause unexpected costs to accumulate quickly.

2. Negotiate Medical Bills

Many people may feel uneasy about discussing payment options with their healthcare provider, but it can be an effective way to reduce or even eliminate medical bills. Doctors and hospitals may be willing to negotiate a payment plan that works for both parties, so you don't have to take on more debt than necessary.

If you are unable to afford your bill in full, talk to the hospital billing department or your doctor. Explain your financial situation and ask if there are any discounts or payment plans that may be available to you.

Some tips for negotiating with healthcare providers and billing departments include:

  • Ask for an itemized bill so that you know what each charge is for.
  • Contact the billing department to find out if there are any payment plans or discounts available.
  • Look into charity programs or government assistance programs that may be able to help cover some of your costs.

There are numerous resources available to help individuals and families negotiate medical bills. For example, financial assistance programs (FAPs) can provide discounts or free care for those who qualify based on income levels. Additionally, some states have their own FAPs that may offer additional assistance in negotiating medical bills.

3. Engage in Preventative Healthcare Measures

One of the most overlooked steps to avoid medical debt is preventative care. While it may seem like this would incur more short-term costs, many insurance providers incentivize preventative care appointments and healthy living. Plus, preventative healthcare measures can help you avoid medical debt in the long run. Common preventative measures include:

  • Going to the doctor for regular check-ups
  • Eating healthy foods
  • Exercising regularly
  • Taking care of yourself

Taking these steps will help you stay healthy and avoid sickness or injury, which can lead to expensive medical bills.

FinPay's Solutions Can Help Your Family Avoid Medical Debt

Medical debt can be a devastating financial burden, but it doesn’t have to be. By understanding your insurance coverage, negotiating medical bills, and taking preventative healthcare measures, you can reduce or even eliminate the amount of money you owe for medical services.

FinPay offers solutions that help ease this stress and uncertainty, so you don’t have to take on more debt than necessary. Our individualized payment solutions allow you to pay for your medical bills on your own terms. Contact us at today to find out how our tools can help your family avoid medical debt and its associated consequences. Don't let medical costs overwhelm you. Take steps to avoid medical debt now so you can stay financially stable in the future.

If you are interested in more information, email us at or schedule a meeting with us.

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Tags: Patient Financial Management, Patients, Medical Debt

Christopher Wolfington, Founder & Chief Revenue & Strategy Officer - FinPay, is a business leader and entrepreneur with over 29 years of experience in consumer and financial services. Mr. Wolfington is currently living in Philadelphia, PA and continues to use his entrepreneurial talent to identify key opportunities and solutions in high growth markets.