What's the best way to protect your capital from some hospital or medical collection agency taping your accounts in the event of a major, major medical expense? Plan A - Just let insurance pay what they will and then pay a small amount each month. Will that stave off them taking your cash? Plan B - incorporate? Plan C - ??? Thanks for your advice
Plan A works. I know a multi-millionaire paying off medical bills at $50 per month after having complications at the birth of their child. He owed over $200,000 over and above what the insurance paid.
I agree. My ex-wife was paying off over $500,000 in medical expenses off at about $100 a month split between all parties. They took her to court and the judge scolded the creditors saying she was making an honest effort to pay and then punished the creditors buy calling the debt . . . paid in full and the creditor ate the balance of over $495,000.
Another alternative--hide yourself offshore. I hear place like Canada and Great Britain have lovely medical systems that are absolutely free! Riskette, MD
It may be free in Canada, but you'd wish you were insured in america. unless ur 1 inch frm death, they'll make you wait in line until your an inch from death.
How about hiring a lawyer and disputing the charges? I'm probably naive on this, but can a hospital charge you whatever amount it wants?