Any financial no-no's to paying someone's medical bills? Is this treated like a financial gift?
Talking about a decent sum. Mid 5 figures.
Talking about a decent sum. Mid 5 figures.
This. Also, be prepared to have the patient be required to provide a HIPAA release to the billing company allowing the payor to discuss the bills.combat wombat said:
Pay the medical provider directly. There's a medical exemption for the gift tax limit. Paying the medical bills does count as a gift for gift tax. It's like free money. However, you need to pay the medical provider directly.
https://www.forbes.com/sites/markeghrari/2017/10/28/1-thing-you-definitely-need-to-know-about-the-gift-tax/
Correct. I meant if you wanted to actually haggle the bill. Absolutely not required if just paying the bill straight.combat wombat said:
You should be able to provide the payor with the remittance advice from your bill that they can send to the provider along with the check. They don't need a HIPAA waiver. They don't need to be able to discuss the bill. The patient can review the bill for accuracy.
You can sign the HIPAA waiver if you want. However, if you prefer to maintain your privacy with regard to the specific procedures are having done it's not a requirement for them to pay the bill.