The fastest growing form of consumer debt in the United States is medical debt. Given the ever-increasing amount that even once routine medical care currently costs and the even more unrealistic (and unsustainable) inflation rate at which healthcare costs in the United States are growing annually, more and more people are finding themselves in debt because of even routine medical treatment. This is true even for those with health insurance given that health insurance is requiring consumers to shoulder more and more of the financial burden of paying for their own care. The situation is even worse for those who may be uninsured because they may urgently require medical treatment, but simply have no way to pay for that treatment. However, it is not as if you can simply put off medical treatment that you may desperately need, even if you do not know how you are going to pay for it. It may be the only option to save your life, which is why a debt settlement company like Signature Servicing may be able to assist you if you have incurred medical debt for necessary medical treatment and you are struggling to pay for it afterwards.

Why Incurring Medical Debt may be Unavoidable

You cannot put off incurring the costs of certain medical care or treatments if doing so means you may or may not survive or you may be left with a medical condition that could hamper your ability to live your life fully. In that circumstance, you are facing a dilemma: either receive treatment that likely can save your life or is necessary or skip the treatment and deal with the potentially fatal consequences. Therefore, your only option may be to obtain the treatment and figure out how to pay for it later. Nevertheless, doing so may put you in a serious financial bind.

Medical Debt is a Problem Even if you do have Health Insurance

Even if you are lucky enough to have health insurance, insurance coverage is becoming sparser in what it does cover, even as premiums rise. Whether they call it a co-pay, co-insurance, cost sharing, a deductible or some other unintelligible term, you still must pay much more of the costs of your treatment than you did even five years ago, even when you are lucky enough to have health insurance. Other issues may be the confusing array of pre-authorizations that may require you to shoulder the entire burden of paying for your treatment if for some reason your doctor did not fill out exactly the right forms authorizing whatever procedure or treatment you needed to undergo or because your health insurance plan has an extremely high deductible. In either case, you as the patient are left holding the bag for whatever your insurer will not pay.

Those Without Health Insurance could be in an even Worse Position

Those who do not even have health insurance will often find themselves in a confusing morass when it comes to paying for medical care. While hospitals are required to provide a certain amount of charitable care, they often do not advise patients of this at the time you first enter the hospital and, even if they do, you may be in too much pain or too out of it to understand exactly what is going on. Instead, you likely may only hear about it (if at all) when the hospital is threatening to turn you over to collections and they tell you it’s too late to sign up for that hospital’s debt relief program.

However, most medical providers will provide some sort of option for patients to pay their bills using a payment plan. Nevertheless, these repayment programs may still require you to make payments that are beyond your ability to afford. Therefore, you are still in a bind because you need the treatment but, even with the repayment plan spreading the costs of that treatment out over several months or even years, you still cannot afford it.

Contact Signature Servicing

If you are struggling with debt, including medical debt, it may be time to seek the services of a reputable debt settlement company like Signature Servicing. If you are in debt, including medical debt, and do not know where to turn, please contact us at Signature Servicing at 844-440-7654 or email us at info@signatureservicing.com. We know financial matters are a personal subject, so we take your privacy seriously. We can assist by giving you personalized advice as to your own unique solution and customizing a program to help you in getting out of debt. You do not need to let debt run your life; you can take charge and chart your own financial course.