FROM:
HOLLEY CARNRIGHT
DATE:
JANUARY 12, 2017
RE:
PRESS RELEASE – BEWARE PITFALLS OF MEDICAL CREDIT CARDS
With
increasing numbers of health care professionals urging patients to use medical
credit cards to pay for treatments not covered by their insurance plans,
Attorney General Eric T. Schneiderman issued a consumer alert on the risks
associated with health care financing. A copy of this alert is available from
the Ulster County District Attorney’s Division of Consumer Affairs.
Consumers
should consider these tips to avoid problems associated with these cards and
lines of credit:
· Give yourself time to
understand the terms of financing. Take the time to read the entire contract;
don’t rely on a sales pitch.
· Resist any pressure to apply
immediately, even though it is your provider who is offering you the financing.
· If your provider tries to
charge you in advance of treatment, ask to be charged for each visit separately
instead. If your request is refused, consider finding another provider.
· If the services will span
more than one visit, ask for a detailed treatment plan.
· If applying for deferred
interest (“no-interest”) financing, understand how the deferred interest will
accrue and when it will be imposed. Understand the monthly payments you must
make in order to avoid interest.
· Ask your provider for
alternative payment options, such as an in-house payment plan. Your provider
may also be willing to negotiate the fee. Once you sign up for a credit card or
other financing, you may have more difficulty addressing billing matters with
your provider.
· Make sure your insurance
coverage, if any, is exhausted before using a credit card or other financing,
and don’t allow your provider to charge your credit card for any service that
should be covered by insurance.
Consumer
Affairs can be reached at 340-3260.
