How to Save 20% On Your Medical Bills

save money on your medical bills

Having a baby back in April has really tapped out some of our funds. I have pretty good insurance, but I still have a deductible to hit and an out-of-pocket. So once Baby arrived, I knew we would be receiving some medical bills. Then when he went into the NICU, I knew there would be even more.  I had built up our emergency fund as much as we could to help with the costs of delivery.  I even treated the delivery as a sinking fund to really help get us off on the right foot.  

I kept being told to call the hospital and enter into a payment plan, but did you know a payment plan doesn’t stop them from sending you to collections?


The hospital can still send you to collections even when you have a payment plan with them.

It happened last year when J had to see a specialist. We entered into a plan at the hospital and then about 3 months later I received a collections notice. I was furious! I called the hospital and paid off my balance immediately.

Then I did research. With the changes in the healthcare laws, hospitals can send you to collections sooner and even if you’re making sizable payments.

This time I called to see what options I had. I learned that if you pay in full then you receive a 20% savings.


How to Save 20% On Your Medical Bills

I had 20% knocked off every single bill by paying them in full.

Even on the smaller ones that were less than $100. You just have to ask them for a discount if you’re willing to pay in full that day, over the phone. Then you actually have to pay them that day.

You can try to talk them down more, but I wasn’t successful once I got them down to 20%. I even tried with both hospitals and they stopped at 20%. But that was still a sizable savings in our books!

If you don’t have the money, then see if you could borrow it. It ended up being over $1,000 savings for J and I.  It would be well worth it, if you’re able to get the money in time.  I shared all about how we financially prepared for baby a few weeks back and it really helped out!

Just make sure you ask for the savings.  They aren’t going to willing knock off 20%. I would make sure to get a copy of a receipt or payment confirmation showing your account is satisfied.

How do you save on your medical bills?  Let me know!

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Meredith Rines, a budget and financial strategist helping fans pay off debt and live the life they've always wanted.

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