iCrowd Newswire
24 Nov 2022, 03:02 GMT+10
A recent survey found that more than 20% of Americans think they will never pay off their medical debt. Medical debt is one of the toughest debts to get rid of, so it's no surprise so many feel like they're drowning in debt. Luckily, there are a few things you can do to get your finances back on track after a visit to the hospital. Here's what you need to know.
Medical debt is a severe issue for many Americans. This is often due to the high cost of medical care and the fact that many people do not have adequate health insurance or extremely high deductibles that leave them footing the bill. According to a recent study, medical debt is the leading cause of bankruptcy in the U.S..
The fear of having medical debt can be disastrous for those who feel they can't afford to go to the doctor, leading to many putting off pains or issues that end up being more costly later on. Further, medical debt's added stress can worsen health issues.
If you're on the receiving end of a high medical bill that'll put you in debt, there are a few things you can do:
The simplest way to ensure you won't get into medical debt is by taking steps to keep yourself healthy. Obviously, there are some things you can't plan for, but getting routine check-ups, eating healthy, and exercising regularly can go a long way in preventing you from ending up in the hospital.
Next, review your health insurance plan every year to ensure it's adequately covering your needs. Many states have health insurance exchanges that offer different levels of healthcare plans that aren't tied to an employer. Depending on your income level and the state where you live, you may even qualify for subsidies that reduce your monthly premiums.
Finally, if you have an upcoming medical need that you know will be costly, consider looking into medical tourism. This is a growing trend in which people travel to countries like Thailand or Mexico to receive high-quality medical care at a fraction of the cost of American hospitals. While medical tourism isn't always reliable, it can be a great way to get quality medical care without breaking the bank.
Medical debt is a serious issue for many Americans. By taking steps to reduce your debt and protect yourself from high-cost medical bills, you can hopefully get your finances back on track.
See Campaign: https://www.credello.com/
Name: Michael Bertini
Email: [email protected]
Job Title: Consultant
Tags:Go Media, CE, PR-Wirein, ReleaseLive, Financial Content, Google News, Reportedtimes, IPS, iCN Internal Distribution, Extended Distribution, EnglishGet a daily dose of New York Telegraph news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to New York Telegraph.
More InformationSAN FRANCISCO, California: Grammarly is doubling down on AI-powered productivity tools with the acquisition of Superhuman, a sleek...
NEW YORK, New York -U.S. stock markets closed with broad gains on Thursday, led by strong performances in U.S. tech stocks, while European...
LONDON/STOCKHOLM: The Persson family is ramping up its investment in the H&M fashion empire, fueling renewed speculation about a potential...
PARIS, France: L'Oréal is making a fresh play in the booming premium haircare segment with a new acquisition. The French beauty conglomerate...
MENLO PARK, California: Robinhood is giving European investors a new way to tap into America's most prominent tech names — without...
NEW YORK, New York - U.S. stocks diverged on Wednesday for the second day in a row. The Standard and Poor's 500 hit a new all-time...
NEW YORK CITY, New York: The U.S. dollar continues to lose ground, weighed down by growing concerns over Washington's fiscal outlook...
]LONDON, U.K.: A World Health Organization (WHO) expert group investigating the origins of the COVID-19 pandemic released its final...
Multiple Kiev officials have criticized the halt of US weapon supplies Kiev is no longer a priority at the center of US foreign policy,...
The Obama administrations top spies manipulated the probe from the onset, according to John Ratcliffe A US intelligence report on...
Washington, DC [US], July 2 (ANI): US President Donald Trump was yet again at his rhetoric against the Democratic mayoral nominee for...
The US president has vowed to stop Zohran Mamdani from destroying the city US President Donald Trump has accused Democratic mayoral...