Today, Rick Bloom is joined by Caitlin Donovan of the National Patient Advocate Foundation for a very important conversation - about medical bills.

Too often, patients just assume their medical bills are accurate and they have to pay every penny. Caitlin dispels that myth.  There's so much nuance with billing codes, insurance coverage and Explanations of Benefits (EOB's), and more.   Very often, you are not  responsible for what you see on that first bill.

There are a number of strategies you can use, including bringing an advocate with you to appointments, trying multiple people in a billing call center, and most importantly, persistence.

You can also negotiate your bills - a hospital, for example, would rather negotiate a settlement with you than not have you pay anything at all!   Rick also mentions the importance of having a medical durable power of attorney should you not be able to make decisions for yourself.

Also, Rick answers two more listener emails - regarding inheriting retirement plans and declaring bankruptcy due to credit card debt.

The National Patient Advocate Foundation is a free resource for many eligible patients.  You can find them online here: https://www.npaf.org/

Note: Bloom Asset Management is now Bloom Advisors.  Find Rick and the team at https://www.bloomadvisors.com/  or call (248) 932-5200.