In a perfect world, unexpected medical bills would be paid for from a rainy day savings account, money you’ve specifically set aside for life’s many unplanned expenses.
Unfortunately, however, not everyone has such an account. And those who do, may not necessarily have enough cash accumulated to cover a pricey medical bill.
That leaves a variety of options for addressing such an expense, including consumer credit cards, medical credit cards, personal loans and payment plans negotiated with the providers. Each of these choices has pros and cons that should be weighed carefully.