Financial Assistance To Pay Off Medical Bills

It’s hard enough to receive a life-threatening diagnosis. But these expenses aren’t the only ones. There are also the costs of doctor’s visits, medications, and treatments. In addition to putting a burden on your finances, these costs can also impact your mental health.

Approximately 112 million Americans struggle to pay for health care. As a result, people with financial insecurity are less likely to access treatment. More than one-third of families report delaying medical treatment because of the cost.

The unexpected medical bill contributes to healthcare uncertainty and costs. You can be caught off guard after a planned procedure, especially due to a health emergency. Even with insurance, out-of-pocket costs can skyrocket if you receive care from an out-of-network provider or when you have been prescribed an expensive drug.

More than 100 financial assistance programs in the US assist people with healthcare and medical expenses maintained by the US Department of Health and Human Services (HHS). Various nonprofits and government programs also assist cancer patients and other specific health conditions.

Government And Non-Profit Assistance Programs

Financial assistance programs can assist you if you have medical bills that exceed your budget. Associated foundations or nonprofit organizations often help patients pay for medical bills through financial assistance programs.

Medicare

Medicare is a federally funded program that covers and assists seniors over 65 and people with disabilities younger than 65. Medicare covers a variety of different medical procedures and needs. Medicare includes four different parts:

Medicare Part A: Hospitalizations, skilled nursing facility care, hospice care, and some home health services

Medicare Part B: Outpatient care, supplies of medical equipment, and some doctor’s services

Medicare Part C: This part, also called Medicare Advantage, is an option you might buy through your employer. Part D coverage is usually part of Medicare Advantage plans.

Medicare Part D: Prescription medications, including shots and vaccines

As soon as you enroll in Medicare, you can choose which kind of coverage you want. Traditional Medicare only includes A and B coverage. However, some plans provide Part D coverage. 

For Medicare recipients to qualify, they must be 65 or older. You may qualify if you are younger than 65 and disabled or have end-stage renal disease.

Extra Help

Extra Help is an extension of Medicare that enables people to receive help with prescription drug costs that the Medicare plan does not cover. Original Medicare plans only cover Parts A and B of prescription drugs. The applicants must reside in the United States and be low-income Medicare beneficiaries for this program to be available.

Supplemental Security Income

In the United States, the Supplemental Security Income program is funded through general funds collected by the Treasury. The only difference between this benefit and others is that it’s not based on employment. SSI payments are made on the first day of each month to qualified recipients. Medicaid is available in some states, however not all states, to help with medical expenses for SSI recipients.

Applicants must be disabled, blind, or older than 65 years old with limited income sources. They must also be citizens of the United States or legal residents, live in the United States, and not be absent for a full month from the United States.

Health Insurance Marketplace

As a result of the Affordable Care Act, also known as Obamacare, people have access to health insurance they previously couldn’t afford, including those who don’t have jobs that provide medical coverage. Under the Affordable Care Act, you can enroll in insurance coverage through the Health Insurance Marketplace.

Applicants must be United States citizens, not incarcerated, and reside in the United States as an eligibility condition. 

Medicaid

Low-income individuals can obtain health insurance through Medicaid, a government program. It assists more than 70 million Americans, making it the largest insurance provider in the country. Several factors determine eligibility, including age, income, household size, and disability.

Children’s Health Insurance Program (CHIP)

Families who do not qualify for Medicaid but cannot afford private insurance can obtain low-cost health insurance through the Children’s Health Insurance Program (CHIP). Families with children can cover the cost of medical needs with the assistance of this program. Each state has different requirements for Medicaid and CHIP coverage.

HealthWell Foundation

The HealthWell Foundation provides access to quality care to underinsured patients under the slogan “when health insurance isn’t enough.” The foundation covers prescription copays, healthcare premiums and deductibles, pediatric care, and travel expenses to medical appointments. To qualify for treatment in the United States covering one of the foundation’s covered diseases, patients must have health insurance.

Patient Access Network Foundation

Underinsured people with rare, chronic, life-threatening diseases can receive funds from the Patient Action Network (PAN) to cover their healthcare costs. Health insurance premiums, copays, and travel costs are covered.

Under the program, recipients must be below the poverty line in the United States, have health insurance, and receive medications for qualifying illnesses. Additionally, the patient must be receiving treatment in the United States or a US territory; citizenship is not necessary.

Patient Advocate Foundation

The Patient Advocate Foundation employs case managers to provide services at no charge, helping ease the medical diagnoses’ stress and financial burden. Those who meet the eligibility criteria can receive grants and copay relief from the foundation.

People wishing to receive screening services for chronic, life-threatening, or debilitating diseases can access case management services. The recipient also needs to be a U.S. citizen or permanent resident undergoing treatment in the United States, a U.S. territory, or will in the next 60 days.

Are you interested in learning more about different grants and programs that can help you with your living situation? Check out the rest of Gov Relations’ blog section today!