Each study highlights a new factor that contributes to the ever-increasing struggle to pay medical bills. A survey done by GOBankingRates discovered that 62% of Americans have less than $1,000 in savings. Yet, according to Kaiser, the average deductible for single coverage is $1,954 for HDHP/HRAs and $2,196 for HSA-qualified HDHPs. Don’t forget the fact that deductibles reset every year. If 62% of Americas have less than $1,000 in savings, it seems unlikely that they have funded HSAs to cover their deductibles each year. This is setting people up for failure when they encounter an unexpected medical bill.

Since paying for medical bills with savings is out of the question for the majority of Americans, working these bills into their monthly budget is crucial. Most Americans plan to cut spending in other areas; however, people should not be required to make a lifestyle change each time they have to pay a medical bill. Providing the option for reasonable monthly payments not only eases the stress on their savings account or lack there of, it also provides the opportunity to utilize an HSA even if they do not currently have it funded. Each month when they go to pay, instead of paying the bill directly, they can transfer the amount into their HSA and then send the payment from there. Maybe all the money they save with pre-tax contributions can be used to start that savings account.

About MyLoans™

By providing patients with fast access to medical loans at a fair and unchanging interest rate, the MyLoans™ software by Epic River enables financial institutions to ease the financial stress of health care through collaboration with medical providers. Not only can medical providers offer patient financing for medical care needs, but doctors and hospitals alike can finally get immediate funding of their patient’s outstanding balances. Additionally, financial institutions gain new customers and interest income with little administrative overhead in exchange for servicing the loan. For more information, visit

About Epic River, LLC
Since its inception in 2005, Epic River has been providing high quality software services aimed at solving process-intensive problems. With a focus on high quality and rapid delivery, Epic River’s methodology accelerates the process of innovation while keeping a firm grasp on the business case behind the application, enabling our partners to grow their market leadership. The company’s unique approach to the agile methodology and user experience ensures both parties work closely together every step of the way. Whether you’re looking to expand into new technologies or markets, need a custom internal tool, assistance with architecture, or simply need someone you can trust to make technology decisions, Epic River is at your service. For more information, visit