How to Finance Healthcare Services
- 1). Consider cash if you can. Many health care providers will offer a discount if you are able to pay in cash up front. Talk to your doctor to see if this is an option and what type of discount you may be able to arrange if you do pay in cash.
- 2). Check if you qualify for Medicaid. Medicaid provides insurance that covers health care services if you meet its eligibility requirements. In order to be eligible for Medicaid, your income must be under a certain level and you must have few assets. The exact income levels vary by state, but generally you must be at or below the poverty line. In addition, you also must fall into an eligible group. For example, you must be either a U.S. citizen or a legal immigrant. Medicaid coverage will go into effect immediately, and can even apply retroactively and cover health care services that were provided to you in the three months prior to your application. If you aren't sure if you are eligible, contact your local government benefits office where a claims representative will help you determine if you qualify for the program.
- 3). Speak with your doctor about a payment plan. Many doctors are willing to work with people who need health care services and will try to set you up with a reasonable monthly payment plan. You may have to pay interest, but this can still be a good option for financing health care services.
- 4). Look into CareCredit or other types of private financing companies. CareCredit offers financing for healthcare procedures under several attractive payment options. To obtain help from Credit Care, you are required to go to a doctor who is covered under their program, and you will have to pay interest, but this may be a cheaper option than paying on a credit card and may allow you to get the help you need.
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