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Since being diagnosed with LADA Diabetes, medical bills have become commonplace. My finances these days include paying all kinds of medical bills — bills for doctor visits, bills for labwork, and for medical durable supplies like an insulin pump. Not to mention that I’ve become a regular at my local pharmacy, and also get mail order diabetic supplies too.
If you or a loved one has diabetes, I’m sure that you’ve also seen this spike in medical bills. Before diabetes, medical expenses were infrequent for me. Now it’s a regular part of my financial planning.
I’m frugal and I think every extra bit of savings adds up. One discovery that I’ve made recently, is that you can get a discount just for paying on time!
That’s right, whether the bill is for $30 or $3000, if you can pay the bill in full by the due date, you may qualify for a “prompt” pay discount.
With your credit card or other payment method in hand, simply call the phone number on the bill, and ask them if you can get a prompt pay discount if you pay in full.
This saved me about $300 on my Medtronic Insulin pump. The Medtronic bill doesn’t mention this discount, but the salesperson told me about it. So when I got my bill, I called them up, and sure enough, they applied a discount!
This discount depends on the company, but typically varies between 5%-10%.
My local hospital offers this discount too, and actually states it on the statement:
I don’t know if any pharmacies or laboratories offer this policy. But, I will continue to ask about it! Every bit of savings helps!
- If you can you pay the medical bill in full….. Don’t just pay it, ask for a discount.
- Call up billing department with your credit card or checkbook in hand.
- Ask if they offer a prompt payment discount if you pay the bill in full over the phone.