medical bills Archives - Wynn at Law, LLC Fri, 18 Feb 2022 19:36:19 +0000 en-US hourly 1 Medical bills a threat to financial independence https://wynnatlaw.com/attorney-shannon-wynn-medical-bills-a-threat-to-financial-independence/ Thu, 06 Jul 2017 11:45:00 +0000 We are frequently seeing clients with ‘surprise’ medical bills when Wynn at Law,LLC counsels people through bankruptcy proceedings. Catastrophic medical bills are, unfortunately, one of the more common reasons for Chapter 7. Usually those clients didn’t have insurance coverage. The surprise medical bills to which this article refers are bills health insurance did not cover. […]

The post Medical bills a threat to financial independence appeared first on Wynn at Law, LLC.

]]> We are frequently seeing clients with ‘surprise’ medical bills when Wynn at Law,LLC counsels people through bankruptcy proceedings. Catastrophic medical bills are, unfortunately, one of the more common reasons for Chapter 7. Usually those clients didn’t have insurance coverage. The surprise medical bills to which this article refers are bills health insurance did not cover.

 

For example, you schedule an in-network procedure. You’re assured your insurance is covering the cost. But a few weeks later, an OUT-of-network bill arrives. The Jan. 2017 Journal of the American Medical Association (JAMA) pointed out the problem. “The average anesthesiologist, emergency physician, pathologist, and radiologist charge more than four times what Medicare pays for similar services, often leaving privately insured consumers stuck with surprise medical bills that are much higher than they anticipated.”
Wisconsin, by the way, is among the states with the highest out-of-network markups according to the study.
As a patient, you don’t get to select the specialists like the anesthesiologists – who charge six times what insurance customarily pays based on the Medicare rate. But you do get the specialist’s invoice once your insurer carves out how much it will pay. States and Congress will sort out how customers avoid surprise billings. Maybe the solution is in Healthcare Reform… might be in state laws capping out-of-network charges… either way, it doesn’t change the immediate danger it puts your financial independence in.
Wynn at Law, LLC works with clients to try to avoid a bankruptcy filing if they can. Sometimes, it’s as simple as talking with the insurance company and the out-of-network provider about the crushing surprise bill.
Our team here at Wynn at Law LLC hope you had an enjoyable and safe Independence Day, and we want you to know that we’re by your side if your financial independence is put in jeopardy.
*The content and material in this original post is for informational purposes only and does not constitute legal advice.
Photo by Sean Prior, used with permission.

The post Medical bills a threat to financial independence appeared first on Wynn at Law, LLC.

]]> Spot the five early warning signs for bankruptcy https://wynnatlaw.com/attorney-shannon-wynn-spot-the-five-early-warning-signs-for-bankruptcy/ Thu, 16 Mar 2017 16:41:00 +0000 https://wynnatlaw.com/blog/attorney-shannon-wynn-spot-the-five-early-warning-signs-for-bankruptcy/ Most of Wynn at Law, LLC‘s bankruptcy clients face sudden situations that have them considering filing Chapter 7 or Chapter 13 bankruptcy. I’m talking about things like massive medical bills or sudden job loss. Finances can be a difficult balancing act at other times as well, so I put together a quick list of warning […]

The post Spot the five early warning signs for bankruptcy appeared first on Wynn at Law, LLC.

]]> Most of Wynn at Law, LLC‘s bankruptcy clients face sudden situations that have them considering filing Chapter 7 or Chapter 13 bankruptcy. I’m talking about things like massive medical bills or sudden job loss. Finances can be a difficult balancing act at other times as well, so I put together a quick list of warning signs.

 

1. Wage garnishments. These are a dead giveaway that something got out of hand at some point and a bankruptcy filing may be in the cards. However, before a wage garnishment can take place, the creditor has to take you to court to get the order. So, here is the real heads up…
2. Summonses. If a creditor wants a piece of you and has been unsuccessful with collections on its own or with the help of a collection agency, they take you to circuit court. The court is in the county in which you reside. Walworth County Circuit Court, for example, is in Elkhorn. The court sends out a summons when a creditor files against you.
3. Missed or late payments. When you lose track of paying bills by the due date, it’s probably time to use a calendar. If you’re regularly late or paying at or below the minimum payment, that’s a warning sign. It’s also a money drain. Late fees are a nuisance. When you start paying interest on late fees added to your account balance, the situation can spiral out of control quickly.
4. Maxed out cards. One reason we miss payments or pay below the minimum is because a credit limit can be a tempting way to extend your income. Buying groceries on the credit card is one example. Even if you’re a super couponer, paying for Pick ‘n Save on the Visa negates any incremental savings from the coupons.
5. No savings. When you’re not following the old adage that you pay yourself first by putting money into savings or investments (like your retirement plan), it’s a signal. It could flag an unhealthy relationship with money that could bring anyone to Wynn at Law, LLC. Not every saver can squirrel away enough to make it through an unexpected loss of income… but it provides cushion.
The pattern in these five warning signs is in reverse order. If you’re at warning sign #1 already, call us. If you’re at warning sign #5, there’s probably still a lot you can do before needing an experienced bankruptcy attorney.
*The content and material in this original post is for informational purposes only and does not constitute legal advice.
 Photo by Igor Stevanovic, used with permission.

The post Spot the five early warning signs for bankruptcy appeared first on Wynn at Law, LLC.

]]>