Significant medical bills can come at any age and when least expected. It is important to be financially responsible and prepared for unexpected medical bills. This generally means having health insurance, personal savings, and a health care savings account. The credit scores of 2 in 5 Americans are negatively affected by medical bills, and one in six credit reports contains a medical debt.

If you do receive a big hospital bill, you should (1) address it promptly; (2) work out an interest-free payment plan if necessary; (3) ask for a prompt payment discount; and (4) apply for financial assistance from the hospital, if necessary. By taking these steps, you will be more likely to prevent your medical debt from being sent to a third-party debt collection agency, having it reported to credit bureaus, and damaging your credit score.

In Missouri, as in other states, unexpected medical bills can pose a significant financial challenge. To mitigate the impact of such expenses, it is advisable for individuals to maintain health insurance, personal savings, and contribute to a health care savings account. When faced with a large hospital bill, Missouri residents should act quickly to address the bill by negotiating payment plans, which often can be interest-free, asking for prompt payment discounts, and seeking financial assistance programs that many hospitals offer. Taking these steps can help prevent medical debt from being transferred to a collection agency, which could lead to the debt being reported to credit bureaus and potentially harming an individual's credit score. It's important to note that while federal laws like the Affordable Care Act (ACA) have provisions to help with access to insurance, state laws may vary regarding medical debt collection practices and protections against aggressive debt collection. In Missouri, consumers are also protected by the Fair Debt Collection Practices Act (FDCPA), which regulates the conduct of collection agencies and provides a framework for the legal collection of debts.