The Importance of Keeping Good Files

As in everything that involves money, it is important

to keep good records of your medical expenses for many

reasons.

Keeping track of deductibles, especially for a family,

can be time consuming, but is an important task. Every

policy has different deductibles for lab work,

hospital emergency room visits, hospital stays, doctor

visits and x-rays, and it is often difficult to track.

Keeping track of your out-of-pocket expenses becomes

very important when it comes time to complete your

taxes. It also comes in handy to know what your

expenses are for medical care when choosing to change

companies or policies.

A file folder that includes a copy of the policy,

copies of your medical bills and copies of what your

insurance company has paid on those bills is usually

all you will need.

When a bill comes for a provider, you will usually

receive a statement from your insurance company

showing what portion of the bill they paid, and many

times providers write off the remainder, if it is not

a large sum.

If you visit several doctors, you may want to have a

file folder for each doctor or provider.

Insurance companies do occasionally make mistakes, but

they are usually on top of their game. Having a copy

of the policy handy makes it easy to check deductible

levels and whether a particular service is covered or

not.

It also serves as a ready resource for telephone

numbers, website information and your contact at the

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