Imagine getting hit with an emergency room fee or being told you need an outpatient procedure right away, and the total comes to about $1,700. Insurance companies aren’t exactly famous for paying quickly, and you probably don’t have the luxury to wait around. So you ask yourself: how to get 1700 dollars fast?

A personal loan may help cover medical expenses while insurance claims are being processed. This can reduce the need to delay treatment or manage large upfront costs during the claims process. But before you jump in, slow down and look carefully at what different lenders are offering. Some stick you with steep repayment terms or sneak in extra fees, so pay close attention to the fine print. 

Negotiate Interest-Free Payment Plans

Many healthcare providers, hospitals, and clinics know that insurance payouts are not always instantaneous. Therefore, they frequently offer a payment plan that allows patients to pay their bills over time. Call the billing office upon receipt of your bill to inquire about your options, rather than waiting until it is due.

Know the terms, payment schedule, and any other details related to the payment plan before you enter into one. Make sure you understand the full payment and select a reasonable payment plan that will help you keep up with your bills and process your insurance claim.

Use Health Savings/Flexible Spending Accounts

If you have these accounts through your employer, those funds can help you pay for qualified medical expenses while you wait to be reimbursed. Because these funds are intended for healthcare expenses, using an HSA may reduce the need to borrow.

Check your balance and make sure your medical expenses qualify before you withdraw. Retain copies of all receipts and proof of payment, as you might be required to submit them when claiming or for auditing your healthcare expenditure. Using these accounts for what they are meant for can help keep your regular household budget from taking a hit during the wait.

Consider a Line of Credit

A personal line of credit allows you to borrow money as needed, and you can make multiple withdrawals instead of borrowing a lump sum. That’s handy if your medical fees are spread across several visits or procedures and you’re waiting on an insurance payout.

Use only what is necessary to pay for your health care needs, and don’t make unrelated purchases with the credit you have been extended. Limiting borrowing to essential medical expenses may make a loan easier to repay and help avoid unnecessary debt.

Get Assistance From Charities

There are also several charities and nonprofit groups that help people in need pay for medical care. Some organizations are geared towards specific diseases, while others help patients with financial need or those who qualify due to other personal factors.

Look up all the programs that apply to your situation, and carefully read through the qualifications before you submit an application. Gather what you need; things like medical bills, insurance paperwork, proof of income, whatever they ask for. Honestly, when you’re waiting on insurance to come through, getting some support from a charity can take a huge load off your shoulders.

Navigating the Waiting Period

Waiting for insurance reimbursement is frustrating, but it doesn’t have to make everything in your life chaotic. Consider options such as payment plans, discounts, financing, or financial assistance programs to help manage medical expenses while an insurance claim is being processed.

Everyone’s financial situation is different, so take whatever you can that works for you and your wallet. Stay organized, keep talking with your provider, and don’t be shy about asking questions. When you have a solid game plan, it’s a lot easier to hold the line on bills until your insurance finally pays up.

The post Managing Unexpected Medical Bills While Waiting for Insurance Reimbursement appeared first on The Hype Magazine.