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| alicia gist |
 Posted: Thu Mar 31, 2005 4:15 pm Post subject: Need help figuring something out |
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Investing Sr. Associate
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| I just got a bill from the hospital. It was for $350, but if we pay the full amont in 10 days we only have to pay $280. I don't have $280 spare dollars laying around. This hospital will allow you to work out a payment plan at $0 interest. I would have to pay about $50/month and pay the entire $350. They will accept a credit card. Should I put it on a credit card and save the $70 are pay it out in 0% interest payments? |
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| thrilla |
| Posted: Thu Mar 31, 2005 7:22 pm Post subject: Re: Need help figuring something out |
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Investing Sr. Associate
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| alicia gist wrote: | | I just got a bill from the hospital. It was for $350, but if we pay the full amont in 10 days we only have to pay $280. I don't have $280 spare dollars laying around. This hospital will allow you to work out a payment plan at $0 interest. I would have to pay about $50/month and pay the entire $350. They will accept a credit card. Should I put it on a credit card and save the $70 are pay it out in 0% interest payments? |
Most likely, it will be best to put it on a low interest credit card. Think about it like this, if you pay the $280, you are getting 20% off your initial bill. Unless you are going to be paying 20% interest or more, you are probably better off. If you have a credit card that pays rewards, then you are even better off.  |
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| Benjamin |
| Posted: Fri Apr 01, 2005 3:24 am Post subject: |
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Administrator
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Well put Thrilla!
| Quote: | | Most likely, it will be best to put it on a low interest credit card. Think about it like this, if you pay the $280, you are getting 20% off your initial bill. Unless you are going to be paying 20% interest or more, you are probably better off. If you have a credit card that pays rewards, then you are even better off. |
It is amazing to me what hospitals charge insurance companies compared to if you have to pay them yourself. I remember seeing one bill I had that cost about a thousand dollars, but then they charged the insurance company about $400. Whats the deal? They get the bulk rate discount?! 
So why are families that cannot afford insurance having to pay a full overblown price, while the billion dollar companies get huge discounts? I guess if those hospitals want to be able to accept insurance from their customers that had better play ball. This may have more to do with the rising health care and health insurance costs that what they blame it on...Malpractice Lawsuits.
Sorry about the rant and if I went a bit off topic...I should know better! |
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| Derffie |
| Posted: Fri Apr 01, 2005 7:14 am Post subject: |
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New Poster
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| This might be an important factor to consider when you start looking into health care FSAs.. Sure you are going to be paying your high deductible from tax free monies..but will that really make up the difference for the HIGH prices you'll be charged .. since you have 'insurance'. Might be much better to stick with a traditional low deductable plan even with its higher rates... |
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| thrilla |
| Posted: Fri Apr 01, 2005 7:56 am Post subject: |
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Investing Sr. Associate
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| Just in case some of you didn't know, FSA stands for Flexible Spending Account. Go check with your employer if they have this program. Basically what it does is set aside pre-tax dollars for medical expenses. In essence, you are getting a discount on medical expenses relative to your current tax bracket. A great program if you have anticipated expenses. |
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| paula0000 |
| Posted: Sun Apr 03, 2005 5:43 am Post subject: |
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Investing Manager
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| I think you should put it on the card. Even if you paid it off in a few months, the interest on the card shouldn't be $70. |
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| jeter4982 |
| Posted: Sun Apr 03, 2005 1:34 pm Post subject: |
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Investing Sr. Associate
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I would definitely put in on the credit card, for all the reasons stated above. You are much better off.
Tom |
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