Medical bills can arise out of nowhere, with people suffering from severe illnesses or injuries without warning. It can be hard to find money to pay for medical expenses when you aren’t expecting them, such as hospitalization fees, surgical costs, and diagnostic fees. Pursuing rapid cash for medical bills through payday loans can help you cover unexpected expenses.
In this guide, we will explain how you can use an emergency payday loan for medical expenses. We will also review the requirements and approval process for a cash advance to explain how to get the money you need today.
What Are Some Examples Of Medical Bills?
Medical bills can be quite complex, so it’s an excellent idea to take a close look at yours. That way, you’ll know precisely what you’re using the emergency funds to pay for.
The costs you’ll normally find on a medical bill include:
- Consultation fees: Medical bills include doctor’s fees or consultation fees. Simply put, these are the fees you pay to have a doctor examine your condition closely.
- Facility fees: In some cases, you might also have to pay hospitalization or facility fees. These are the costs associated with your hospital stay, clinic visit, or the equipment used to treat your medical condition.
- Diagnostic fees: Some situations require specialized imaging and diagnostics, which add to your bill. A common example is the fee for an X-ray, a CAT scan, or a mammogram.
- Medication fees: Naturally, you’ll also have to pay for any medications prescribed to you by your doctor. These can include pain relievers, cold and flu medicines, sleep aids, and antidepressants.
- Administrative fees: Medical bills typically include administrative fees like billing, documentation, and record-keeping.
Paying for all of the above medical costs can be hard when you don’t have an emergency fund saved. Your insurance may not cover the full costs of these medical expenses. Seeking quick cash through a payday advance can help you pay for these costs that you cannot afford.
Key Medical Billing Terms To Understand
When speaking to your doctor or reading your medical bills, you may encounter concepts and terms that you do not understand. If this is your first time dealing with a medical situation, it’s understandable not to understand what these terms mean and how they affect the cost of your medical bills.
Familiarizing yourself with these terms can help you as you determine how you will pay for your medical bills.
The following are some medical bill terms you should know:
- Deductible: How much you must pay out of pocket before your insurance starts covering your costs
- Copay: A fixed dollar amount you must pay for a medical service covered by your insurance, such as a doctor’s visit, medication, or physical therapy
- Coinsurance: This refers to the percentage of the total medical cost you share with your insurer after you've met your deductible
- Out-Of-Pocket Maximum: The maximum amount you'll have to pay for medical bills the year after meeting your deductible
- In-Network: The doctors, hospitals, or clinics in contract with your insurance company, who will likely charge you less for medical bills
- Out-Of-Network: The doctors, hospitals, or clinics without a contract with your insurer, who will charge you more out-of-pocket costs
Now that you understand what you're being charged for, here's how to secure the funds you need quickly.
How To Get An Emergency Payday Loan For Medical Bills
Paying off medical bills quickly lets you focus on recovery without added stress. One option worth considering is to apply for a payday loan, which requires only a few items and can provide you with the cash in as little time as possible.
For example, if you're recovering from surgery and insurance only covered part of the cost, a payday loan could help bridge the gap until your next paycheck.
Here’s how you can get rapid cash for medical bills with an emergency payday loan:
1. Prepare Required Items
Your first step towards quickly obtaining cash to pay your medical expenses is to gather the required items. To get approved for a Florida payday loan for emergency cash, you must verify your identity, your checking account, and gainful employment.
At a later point in the process, you will need to show these required items to a loan representative. The process can go fast once you start, so it’s better to put them together at the beginning.
Here are the required items for a cash advance in Florida
- Identification: Your driver’s license or a government-issued ID that shows you’re at least 18 years old.
- Proof of income: Your most recent pay stub to verify how much you currently make. We will use this to determine how much you can borrow.
- Proof of checking account: A blank check from an active checking account registered in your name.
2. Fill Out Our Online Form
After collecting your required items, you can apply for a payday loan. Reach out to us on our website, where you can fill out a basic information form online.
That form will require details such as your name, phone number, email address, and ZIP code. Once you submit it, your information will be forwarded to a representative at a nearby store.
You can submit your information anytime. A representative will contact you during business hours to continue the process.
3. Speak To A Loan Representative On The Phone
The loan representative who gets your information will contact you soon after you submit the online form. They will verify the details you provided and guide you through the rest of the payday loan process.
They’ll explain each step and confirm what documents you need for payday loan approval. At this point, you can ask any questions you have about how the process works.
Then, you can set up an appointment to meet in person to complete the process and receive the payday advance for medical bills. You can come to the closest Florida store location for a quick in-person meeting.
4. Bring Your Required Items To One Of Our Stores
Please bring the required items to meet the representative at the agreed-upon time and location. The loan representative will review your documentation to determine your loan amount.
This step can be completed in as little as half an hour, so you don’t have to worry about disrupting your daily schedule too much.
5. Receive Rapid Cash For Medical Bills
If you are approved for the payday loan, the representative will assist you in completing the process with straightforward loan paperwork. After signing the loan agreement, you may receive your emergency cash as soon as the same or the next business day, depending on verification.
You can receive up to $1,000 for an FL payday loan. You can use this money to pay for your medical bills and focus on your recovery.
Emergency Payday Loans FAQs
How much can you borrow with a payday loan in Florida?
Payday loans are worth up to $1,000. How much you can borrow depends on your income level and ability to repay the loan with your next paycheck. The more you make, the more you can borrow.
How does payday loan repayment work?
Payday loans are typically repaid with your next paycheck, so it’s important to borrow only what you can comfortably repay. Remember, payday loans collect interest, so you will need to repay more than what you borrow. Failing to repay on time can result in additional fees and financial difficulties, so it’s essential to borrow responsibly.
Can you get payday loans online?
While you can begin the payday loan process online, you must complete it in person at your nearest store to verify documents and sign your agreement. Thankfully, the in-person process takes less than 30 minutes to get you the urgent funds you need quickly.
Get A Payday Loan For Medical Expenses - Borrow Up To $1,000 Today!
Medical bills can be stressful to deal with, especially while you cope with your injury or sickness. That’s why it helps to get rapid cash to settle the bill so you can focus on your recovery instead. Fast Payday Loans, Inc. can help you get approved for a cash advance today, and you may qualify even if your credit history isn’t perfect.
Need cash now for an unexpected medical bill? Fill out our online payday loan form today and see if you qualify in just 30 minutes!
Note: The content provided in this article is only for informational purposes, and you should contact your financial advisor about your specific financial situation.
