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Posts tagged "unmanageable debt"

Unexpected medical debt despite hospital aid programs

According to the Consumer Financial Protection Bureau, more than half of all consumer debt is attributable to medical bills. Even when Ohio patients are indigent and qualify for a hospital aid program, they may still be held liable to pay for such things as anesthesiology that was contracted to a private physician's group by the hospital.

Managing rising medication costs and related debt

Ohio residents who are faced with serious health problems may struggle under the burden of expensive medications. The issue can become even more frustrating as providers of medical insurance place a greater portion of prescription costs in the hands of consumers. The Affordable Care Act has drawn many newcomers into the insurance system as well, creating challenges as many of these individuals aren't familiar with basic insurance concepts and practices. Medical debt can mount quickly as these people attempt to handle premiums, co-pays and other costs.

Medical debt could soon have less of an impact on a credit score

There are a number of different forms of debt that consumers in Cuyahoga Falls can accrue, and most are due to conscious decisions that they make with their money. However, there is one form of debt over which people often have no control: medical debt. Medical emergencies can't be planned for, and the expenses associated with them are out of a person's control. One should never be in the position of feeling that he or she needs to refuse necessary medical care for himself or herself or members of his or her family because of concerns about not being able to foot the bill.

Tips for making medical debt more manageable

Some people are born with a medical condition requiring expensive, long-term care; others are hit with an unexpected medical condition that leaves them unable to work and makes it difficult to pay medical bills. In either instance, the bills can quickly add up and leave the person with overwhelming medical debt. Following are a few tips to help make the amount of money you owe more manageable.

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