I have a medical bill
Can I get a payment plan with no interest?
Photo: RDNE Stock project / Pexels
Often, yes. Many hospitals offer interest-free payment plans through their own billing office if you ask. Ask for the terms in writing, and be careful with medical credit cards or loans with deferred interest.
What to do
- Check the bill for errors and ask about financial assistance first, so the plan is for the right amount.
- Ask the billing office for a payment plan with the hospital itself, with no interest or fees, and a monthly amount you can keep up with.
- Get it in writing: the total, the monthly amount, the number of payments, and a line saying no interest applies.
- Read any card or loan offer closely. With "deferred interest", if you don't pay it all off in time, interest is charged on the full original amount.
What to say
I'd like to set up a payment plan directly with the hospital. Is it interest-free, and can you send me the terms in writing?
If they offer a card or a loan instead, ask whether a plan with the hospital itself is available.
What to watch out for
This is a sensitive stepSmall details here can change the outcome, and some mistakes are hard to undo. We highly recommend a free 15-minute call with us before you decide.
Signing up for a medical credit card at the front desk. If the balance is not paid off by the deadline, deferred interest can add the whole interest charge back at once.
Better done together
We’re here to help
Not every payment plan is what it seems. We help you check the bill first, ask about financial assistance, and compare the plans you are offered, so you don't trade a medical bill for a costly loan.
Every situation is different, and these are sensitive moments, so we look at yours with care. We often see what others miss, and we never take commissions from insurance companies: the only thing we are working for is what is right for you.
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The rule behind it
Payment plans are set by each hospital's own policy, and your state may add its own rules. Nonprofit hospitals must tell you about their Financial Assistance Policy, including on billing statements, under section 501(r) of the tax code. A medical credit card or loan is a separate contract with a lender, not the hospital, and once a bill is on a card it may be harder to get financial assistance.
Sources
- CFPB — What should I know about medical credit cards and payment plans?
- CFPB — Report on costly credit cards and loans pushed on patients
- IRS.gov — Financial Assistance Policy and Emergency Medical Care Policy, section 501(r)(4)
- The hospital's Financial Assistance Policy and the written terms of any plan
Amanda Alcodia
Education, not medical, legal or insurance advice.
Useful next steps
Start with the free Kit. If your situation needs a person, the intro call is free too.