How to Erase Medical Debt & Avoid Overpaying

The Money with Katie Show

Money with Katie

Investing, How To, Self-improvement, Business, Education

4.8 • 1.3K Ratings

🗓️ 16 August 2023

⏱️ 41 minutes

🔗️ Recording | iTunes | RSS

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Summary

There are a few key phrases, online tools, and strategies that are key to unlocking this intentionally opaque industry—so we're going to cover it all today. In a marketplace where some hospitals charge 30x their costs and the insurance company “discounts” do little to help, taking matters into your own hands is often your best bet. I'm joined by two medical billing pros, Braden Pan, CEO of Resolve Medical Bills (https://www.resolvemedicalbills.com/) and Jeanne Pinder of ClearHealthCosts (https://clearhealthcosts.com/). Email Jeanne with billing questions at jeanne@clearhealthcosts.com. Transcripts can be found at podcast.moneywithkatie.com — Mentioned in the Episode Navigating the US Healthcare System Without Getting Financially F***ed: https://podcast.moneywithkatie.com/navigating-the-us-healthcare-system-without-getting-financially-fed/ Expensive Open Enrollment Mistakes to Avoid: https://podcast.moneywithkatie.com/expensive-open-enrollment-mistakes-to-avoid-making-the-best-of-a-bad-system/ Getting the most out of your HSA: https://moneywithkatie.com/blog/category/HSAs Budgeting for Healthcare in the US: https://moneywithkatie.com/blog/how-im-budgeting-for-healthcare-in-the-united-states-in-the-least-frustrating-way The Guide to Lowering Medical Bills from Resolve: https://uploads-ssl.webflow.com/63fe3236566164b208408804/6424c340f953dcf5597b92fa_Resolve_Understanding-Your-Medical-Bills.pdf Medical billing errors from Becker's Hospital Review: https://www.beckershospitalreview.com/finance/medical-billing-errors-growing-says-medical-billing-advocates-of-america.html Find-A-Code NCCI Edits Validator: https://www.findacode.com/tools/ncci-check.php — Follow Along at Money with Katie: https://moneywithkatie.com/ Watch on YouTube: https://www.youtube.com/@MoneywithKatie Follow Money with Katie! - Instagram: https://www.instagram.com/moneywithkatie/ - Twitter: https://twitter.com/moneywithkatie Subscribe to The Money with Katie Newsletter - Sign up for free today: https://www.morningbrew.com/money-with-katie/subscribe/2 Follow the Brew! - Instagram: https://www.instagram.com/morningbrew/ - Twitter: https://twitter.com/MorningBrew - TikTok: https://www.tiktok.com/@morningbrew Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	So essentially what happened is somebody somewhere along the line made up a number and then
0:14.4	that's been inflated by 10 to 20% every year since then.
0:19.4	Welcome back to the money with Katie Show Rich People.
0:22.9	I'm your host, Katie Gattitasan.
0:25.8	It's no secret that I have beefed with the US Health Insurance Marketplace.
0:30.6	If you've listened to this podcast before or been in a room with me for more than seven
0:35.4	minutes, you know this is an issue that really aggravates me.
0:38.9	So today's episode is all about navigating medical debt with rich girl finesse because
0:44.6	if you're going to face dystopian large scale drift, at least we can learn how to fight
0:49.8	back, right?
0:56.8	We've covered health insurance at a macro and micro level before us.
1:01.6	Before we get into this one, we will link a few things in the show notes for you.
1:06.0	Number one, our big deep dive into healthcare in the US and why it is such an egregious
1:11.4	scam.
1:12.4	That's a good little precursor to all of this.
1:15.3	Number two is our rundown of expensive open enrollment mistakes to avoid.
1:20.7	Number three is how to get the most bang for your buck from your HSA, aka the tax
1:25.4	advantaged sorry medical debt might bankrupt you consolation prize.
1:30.4	And finally a post about the basics of budgeting for healthcare using your deductible and
1:35.5	out of pocket maximum as a guide.
1:38.3	Now today's discussion is focused more narrowly on what to do once you have medical debt
1:44.0	and everything you need to know about avoiding over payment.
	...

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