The topic of medical expenses is important to discuss because we will all have medical bills at some point in our lives and medical bills have an affect on our credit score. In this episode, Gary & Christy talk about how to handle medical expenses.

1. Understand your insurance. What’s your deductible, out-of-pocket maximum, and premiums?
2. Ask for information up-front. If possible, get an estimate of the cost of a procedure or service & shop it around to get the best deal for you.
3. Know your prescription options. Sometimes you can use generic brands or OTC instead of a more expensive drug.
4. Analyze your bill. Request an itemized statement so you can verify that the charges make sense.
5. See if you can negotiate the amounts. This is especially important if you aren’t able to pay the entire bill at once.
6. Check into financial assistance. There may be a payment plan option available for you, but make sure your account will remain current while you make those payments.
7. Address the bills. Ignoring them or setting these expenses aside will not make them go away. And remember to be kind, patient, and honest through the process (Prov 11:17, 25:15, 28:18).

Episode Resources

• https://www.moneyunder30.com/paying-medical-bills-you-cant-afford
• https://www.daveramsey.com/blog/ease-the-burden-medical-debt
• https://www.thebalance.com/how-to-negotiate-medical-bills-1387808
• https://www.thebalance.com/how-medical-bills-affect-your-credit-report-4164507