Prepay your hospital bill to receive a discount.

Many hospitals and medical providers offer hospital bill prepayment discounts as part of their financial assistance packages. A patient can save substantially on their hospital bills by taking advantage of a prepayment plan. The plans can also last a year or longer, so the bill does not necessarily need to be immediately paid.

How much can I save by prepaying a hospital bill?

While every hospital has their own program with their own terms, there are numerous examples of patients being able to save anywhere from 10 - 75%.

How do I sign up for the discount?

Like many assistance programs, hospitals do not widely publicize the fact they will provide a discount to someone who pays early. You need to be pro-active and ask the hospital and billing department about what options are available to you. You should call the hospital billing or accounting office as soon as you have a surgery or medical procedure scheduled. Tell them you want to discuss prepayment for an appointment you will be having.

How long do I have to pay?

This will vary by hospital as well. You can still get a discount even when the payment terms are extended. For example, a hospital in Arizona, which is part of the John C. Lincoln Health Network, offers it patients a hospital bill prepayment plan known as Prompt Pay. The discount provided varies based upon how long it takes the individual to pay. They offer a 75% discount on the hospital bill if the patients pays within 2 weeks. However, even if it takes one year to pay, you will still receive a 40% discount. We have seen discounts range from 10% to 75%, and the payment terms can be extended over one year.

 

 

 

Who is eligible for a hospital bill prepayment plan?

Most plans are offered for families and individuals who are either uninsured or who do not have any insurance at all. For those with health insurance, some hospital bill prepayment plans may offer discounts on any portion of the bill that is not covered by your insurance company.

Process to follow to prepay

Here is what we suggest you do. As soon as you know you will be admitted to a hospital, call each of the hospitals you are considering going to and ask them about their assistance plans, and in particular their policies on discounts for payment in advance. You may also find that some hospitals give a percentage discount on your hospital bills and others may offer a flat fee for your savings.

As soon as the procedure or hospital visit has been scheduled, call the hospital accounting office. Tell the office you want to discuss prepayment for your medical bills. Be detailed and specific. Tell them you are scheduled for a procedure for a surgery called X with the name doctor, and that your visit is set for a certain date. Make sure you document the full name of the bookkeeping person you talk to. Then ask if there is a set fee or percentage discount that will be offered if you the pay the bill early, or installments. Document everything. Write down the exact amount that you will save, and when you need to pay by, and the name of the person you talked. Tell them to ensure it is put on your account that you are eligible for the advance payment rate, and also ask for a copy of the agreement in writing. You need a written record for any discount that is offered to you.