A medical emergency can take place without a moment's notice, and the costs of treatment can leave a person in Tennessee facing dire financial straits. Individuals who are left scrambling to cover financial obligations may feel as though a credit card may provide them with relief. However, using a credit card to pay for medical debt might not be advisable, and there might be other options that could help a person avoid a potentially disastrous situation.
Whether as the result of a planned procedure or an unexpected emergency, most people will incur medical expenses at some point in their lives. However, health care costs continue to rise, and even with insurance, a person can become strapped with unpaid medical bills that will adversely affect their finances and make it harder to make ends meet. When facing this situation, it is a good idea for one to know the laws regarding medical debt in Tennessee.
Even with insurance, the cost of accessing medical care is a barrier that many people in Tennessee face. As a solution, some doctors' offices now offer medical credit cards, giving patients lines of credit on which to charge their related bills. Unfortunately, this approach may drive some even further into medical debt.
Tennessee residents can make all the right choices and still face an enormous burden of debt. That is especially true when it comes to medical debt. There are cases where an individual works for decades, sets aside savings and makes wise choices in purchasing a home and accumulating debt. A sudden injury or illness can throw all of that hard work away.
As the new health care bill slowly makes its way through the legislative process, many people in Tennessee are concerned about how their health care options could be affected if major changes take place. This is a deeply personal issue, because health care and the associated costs are different for everyone. For many people, medical debt is a serious risk, even with insurance coverage. If that coverage was lost, then financial turmoil could be just an accident or illness away.
Anyone can find themselves in need of urgent medical care, whether through an unexpected illness or injury. Being faced with a serious health concern is a stressful matter, and one that can be difficult for Tennessee families. Once the patient has been stabilized and is in the process of healing and recovering, yet another stressful situation begins: the medical debt that so often follows a hospitalization. Knowing how to deal with those charges can help individuals avoid excessive medical debt.
Nearly one in three adults in Tennessee has outstanding medical debt. According to The Tennessean, this figures as the seventh-highest medical debt rate in the country. Unfortunately, as insurance premiums continue to rise and many stand to lose their insurance altogether, the statistics aren't likely to get much better any time soon.