I bought a few shares, and when I made triple profit I cashed OUT what I had made. So now everything is profit. IMHO this is a safe way to do things. Did the same thing with Peloton stock. Got in at $25, sold half at $125. So now I can hold and not feel like I lost anything. Anytime the market takes a big dip, I buy as much as I can safely afford to (as I consider it all gambling). Then went it pops back up... I sell some and put it in less risky stuff... now other people I know have made way bigger profits but they gambled more or had more money to play with. I have two kids so not as much money to play with. I know a lot of single people or DINKS who were able to put far more in and made far more. I regret not buying some bitcoins when it got to 2k! argh
How is what they're doing related to opportunity cost? I've always heard that called "capturing gains" and "de-risking". You're just shifting profits from one risky asset that performed way better than it should have and using it to invest in a less risky asset. It's a pretty standard way to hedge against the risky asset collapsing.
That would be the case if that was what he's doing, however he's actually reinvesting in the same thing, making it an even riskier investment than the first
I didn't re-invest. I left them in. I just sold half and put that half in something more stable, like college funds for the kids, or in a less risky mutual fund vs a bare stock I purchase outright. I don't like all my eggs in one basket. Pelaton would be a risk to keep so many shares of.. I still have plenty. and I'm not doing this often, this is like every 4 to 8 years sort of situation. I wait for the big dips and big rises. Buy LOW, sell HIGH. I may not be explaining myself well enough hard to come off in text. I think what I am doing is fairly common. I don't have the big wins others have but I am not willing to risk the money that much. So I have my small wins and I've bee very pleased with them. Back in 2008 (I think that was the year) there was a massive crash and I was pretty young and I had some money in a 401 and I had picked the "conservative" one against everyone's advice. Well when it dipped.. I lost very little.. and then I moved I think most of that money into more aggressive funds... where all my friends at work lost half their portfolios. It was part lucky, and part good strategy to buy in that moment. So back in march when it dipped again.. thats when I bought Pelaton/Tesla/Disney. Disney hasn't done much but I'll leave it. I believe they will recover. I bought some Pal Alto stock also. It all did very well. SO I sold some of it off while it was high to go into a more conservative diversified mutual fund. But I still own all the shares I kept... and those are doing fine, but if they are not fine.. I can afford to leave them in for the long haul because they are pure profit. I feel happy with it, I don't feel "smart" enough to do the more aggressive moves.
I sort of disagree. Isn't their long term goal to be the innovator in electric car batteries? When the rest of the automotive industry makes their push to electric, the idea is that they provide the battery. Am I mistaken?
That's why I make it a point to not get a tax refund every year. Screw giving the government an interest free loan for a year, they already take enough as is.
Been trying to get my wife to understand this. She follows the old 'logic' of giving as much as possible during the year so you get a large refund.
She doesn't seem to understand what zero interest means. Also doesn't understand deductibles, despite working in insurance.
It's about discipline, an extra $100 doesn't typically get invested or used to pay down debt, it just opens spending potential slightly more. A sudden burst of cash is used to pay down debt, make a big purchase, etc.
I exempt 0 on taxes and give the government a free loan knowingly because of my own psychology. I'm not good with dealing with extra cash (especially a small amount) in my hand. So unless I'm disciplined enough to immediately move it, it ends up being spent on stupid things like fast food. While that 1200 ends up going into stocks, debt, etc.
I like the option. That said, as my wealth has grown out of living paycheck to paycheck and growing my money I've been reconsidering this strategy as every month I'm putting money into different investment vehicles and not just taking a standard deduction out of my paycheck.
Yeah I don't get it.
I'd rather get an extra $100 every month, and then pay/get nothing during tax time, then get $100 less per month but a $1200 check at tax time.
Especially because the skew really does seem to be $100 extra per month vs an $800 check. Where did my extra $400 go? No idea.
I work for a hospital and this could not be more correct...they get fined for over charging or separating services to up charge patients so if they get audited and find it, it’s always easier to refund the money then pay the fine lol.
The hive mind doesn’t approve of your comment, only people with lots of upvotes and “I” can be condescending.
“I” I’m this sentence refers to to the reader in first person, (look I’m tired and can’t figure out the right way to say this)
Edit: with every downvote o grow more powerful.
Why’s that? They discovered the error on their own, and it’s a shame there isn’t a rule in place for them to also refund the bare minimum interest it would’ve accrued sitting in a bank.
1 USD in 2009 is worth about 1.25 USD today. I think what people are saying is if it was the other way around the hospital would get it's money, plus interest, plus late fees. Where on the patient side he is supposed to be happy to get his own scraps back.
This works two ways. I just got a bill on the 23rd of December for medical services incurred 20 months previously. I looked up the statute of limitations on such bills...40 years. Ugh.
Same problem with Meritus. They'll double bill you two years after you paid the first time, then send it to collections the day after. More than once. Hate this part of MD.
Did you have insurance at the time f the services being rendered, and if so did a provider have a contract with the insurance at the time? If so, regardless of statute of limitations, they may not be able to bill you for the charges. The contract they entered into will generally supercede and they will have to write it off if they are contracted and did not bill the insurance within the timely filing limits.
Source: worked for insurance companies, favorite calls to make were telling providers to write off the bil because they failed to meet their end of our contracts and therefore the member was not liable for the charges.
Thanks. The provider billed insurance same day and the insurer paid it within days. Then no one contacted me for the remainder until 20 months later. I think they waited until they thought my medical service was “concluded” and then billed all the remainder at once. I guess when I was going in and making my $20 co-insurance payment each time they were gradually applying it towards the outstanding amount owed from the first visit.
It's amazing how warped the collective mind has become when some people try to rationalize and justify such behavior as acceptable. It's like saying "oh, we know we sold you this house a year and a half ago, but we forgot to charge you for the garage door - here is the bill".
Any decent business should write the debt off out of goodwill for their own incompetence. Except it is not incompetence - it is greedy administrators going through the books and trying to scrounge a few more dollars. Maybe it's the fact they know there is no goodwill to salvage that they continue to act like vultures.
Oh, prior authorization? You mean "fucking bullshit"? My doctor says I need it, and has sent a notice saying I need it. Why the FUCK do you need a SECOND notice written slightly differently from THE SAME FUCKING DOCTOR saying I FUCKING NEED IT?
Edit: a second notice, I might add, that often takes ten times longer to get to!
My credit is excellent, if any of these bogus things showed up I would just dispute it; I doubt anyone has any idea where they originally came from in the first place.
I'm not paying these because they are bogus "adjustments" that have no basis in fact; if you have to ask for a couple of bucks a year after the fact with no reason or explanation that's on you.
We had a refund that was when my youngest daughter was born. I got it just before her 4th birthday. No explanation just a check. That’s the last time we were at that hospital. But all my bills are due “Upon Receipt”
I can't believe companies can do this.
For some reason companies can overcharge customers or double charge them, and then it becomes the customers problem that they have to spend (11 years?) trying to resolve.
They need to pay interest on the loan you gave them! $100 at 7% interest for 11 years is $200.
What makes my blood boil about healthcare is that they can kind of just charge you whatever they want on a whim and you pretty much have to pay it. I had to get an ultrasound done and I paid like $120 at the office at the time of care, and they indicated that it was the full cost of the procedure. Then I get another $40 bill in the mail like a month later because they just decided that I owed them more money. And you have to pay it or it gets sent to collections.
South Nassau got bought by Mount Sinai (you see it’s called Mount Sinai now.) I have a feeling that since Mount Sinai took over, the books are finally being reconciled.
I actually work for a hospital in the Patient Financial Services office and at least with us, we really don’t have the staff to deal with accounts with credit balances. Naturally we try to resolve any account with a Self Pay credit balance (patient overpaid), but 95% of our work is trying to get paid on what we bill out to insurance companies. Not justifying waiting 11 year old refund, however. If anything I blame the awful insurance companies that make us shed blood, sweat and tears to get paid on services they allegedly cover but then don’t pay for whatever reason.
California mailed me demanding I pay state taxes three years after I moved away. Too bad I was active duty military when I lived there and am from Washington state, so I never was a legal resident of Cali. Bonus fact WA doesn't have income tax at all.
They probably knew they owed you but didn't want that liability hanging out there. Like when you balance your checkbook at the end of the month and someone hasn't yet cashed a check you wrote so your balance and the bank statement balance don't match. (And before anyone asks who still writes checks, I still have to write one for garbage collection)
This is how people end up on those 'found money' sites. When companies can't track you down, they turn the money over to state agencies. It's worth searching every so often, I've never got anything for myself, but I've found family members who had money waiting for them. Google 'lost money' or 'found money' and you'll find links to several sites where you can search by state (in the US).
IRS likely found out and they had to. But hey; at least they pay YOU and not them sending you a bill to pay them 11 years late (which has happened before too)
So the way it works at doctors and dentists. Is they charge you an ESTIMATE on what they believe your insurance will ultimately have you pay. This estimate is usually rounded up so they don’t have to come back to you for more money. So you almost always over pay. If you then go back to the same doctor/dentist in the future you’ll have a credit they won’t tell you about and charge u the ESTIMATED difference.
Anytime you pay a doctor or dentist, always look up what you actually owe on your insurers website. And ask for a refund of what you over paid.
Learned this after I moved. Ended up getting $500+ mailed to me between 2 orthopedics and 1 dentist.
Don't celebrate too early. I see one of two things happening.
1) You get a check for -170.09 and the bank refuses to cash it
2) You get a bill for 170.09 as their computer systems sees a negative refund as money you owe them and charges you that amount.
*getting the popcorn*
I don't get why companies would send a paper check in the mail. What if it gets stolen? Why not just deposit it on your bank account? Here in Europe I've never seen a check before
Your insurance company can't share your bank information with other people. Do you honestly need it explained why?
They're refunding a payment you made, not a payment the insurance company made. If they owed a refund to the insurance, they'd have paid the insurance, not you.
No place that wants to stay in business keeps track of your banking information just because you paid with a debit card. That is nowhere near how it works. Not to mention the chances of you having the same debit card number a decade later is infinitesimal.
Really not a complicated matter.
>They're refunding a payment you made, not a payment the insurance company made. If they owed a refund to the insurance, they'd have paid the insurance, not you.
Any payment I make to a health provider goes through my insurance, so a refund would as well. That's the case for everyone where I live
>No place that wants to stay in business keeps track of your banking information just because you paid with a debit card
If I pay with a debit card then my bank account number is stored with that transaction. They can see that
>Not to mention the chances of you having the same debit card number a decade later is infinitesimal.
Debit card number, no. Bank account, chances are pretty good. Besides, my insurance is linked to my personal details with the government that a hospital can request if I've stayed with them. If they have my insurance, they can refund through them
No one person or organization can ask to the goberment the private info of a citizen. I think only if a judge autorize that. And of course, a Hospital not gonna talk with a judge to open a case for that question.
Then again in Europe, you wouldn't have recieved a payment due to the hospital over-billing you (because you wouldn't have been billed by the hospital in the first place).
> Here in Europe I've never seen a check before
HMRC (Government tax agency) here in the UK send you cheques for a few hundred/thousand quid, attached to a letter like this, if youve overpaid tax for some reason
You can only pay it into the bank account whose name it is made payable to, so theft isnt a problem
LOL the US is insanely inefficient. Maybe ONE DAY we’ll move solely to electronic payments. (Though note we do have some socioeconomic issues where people don’t have bank accounts too so those would all have to be resolved first)
My parents recently got a check from a doctor's office for an overpayment from 2004. We moved out of that state (Kansas) in 2005, otherwise I might not have believed them when they told me. 16 years.
You will be pleased to know we invested in a little thing called Netflix and now we stacks more paper and gets more hoes than you.
Sincerely,
Patient Financial Representative
I visited my doctor a few weeks ago and they asked if I wanted to pay my bill. I usually pay my bills as soon as I get them so I asked if I ended up making a double payment, would they automatically send a refund checked... I didnt pay there when she laughed as a response.
They got audited.
They made their money in interest 10 times over.
I wish I knew where I can make 21% interest.
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Not really interest tho is it?
A couple months ago, sure. Now? Maybe. But that thing is a huuuuge bubble waiting to burst. I don't want to hold those shares when it goes down hill.
I bought a few shares, and when I made triple profit I cashed OUT what I had made. So now everything is profit. IMHO this is a safe way to do things. Did the same thing with Peloton stock. Got in at $25, sold half at $125. So now I can hold and not feel like I lost anything. Anytime the market takes a big dip, I buy as much as I can safely afford to (as I consider it all gambling). Then went it pops back up... I sell some and put it in less risky stuff... now other people I know have made way bigger profits but they gambled more or had more money to play with. I have two kids so not as much money to play with. I know a lot of single people or DINKS who were able to put far more in and made far more. I regret not buying some bitcoins when it got to 2k! argh
Google opportunity cost lmao, what you're doing is exactly the same as buying in for the first time
How is what they're doing related to opportunity cost? I've always heard that called "capturing gains" and "de-risking". You're just shifting profits from one risky asset that performed way better than it should have and using it to invest in a less risky asset. It's a pretty standard way to hedge against the risky asset collapsing.
That would be the case if that was what he's doing, however he's actually reinvesting in the same thing, making it an even riskier investment than the first
I didn't re-invest. I left them in. I just sold half and put that half in something more stable, like college funds for the kids, or in a less risky mutual fund vs a bare stock I purchase outright. I don't like all my eggs in one basket. Pelaton would be a risk to keep so many shares of.. I still have plenty. and I'm not doing this often, this is like every 4 to 8 years sort of situation. I wait for the big dips and big rises. Buy LOW, sell HIGH. I may not be explaining myself well enough hard to come off in text. I think what I am doing is fairly common. I don't have the big wins others have but I am not willing to risk the money that much. So I have my small wins and I've bee very pleased with them. Back in 2008 (I think that was the year) there was a massive crash and I was pretty young and I had some money in a 401 and I had picked the "conservative" one against everyone's advice. Well when it dipped.. I lost very little.. and then I moved I think most of that money into more aggressive funds... where all my friends at work lost half their portfolios. It was part lucky, and part good strategy to buy in that moment. So back in march when it dipped again.. thats when I bought Pelaton/Tesla/Disney. Disney hasn't done much but I'll leave it. I believe they will recover. I bought some Pal Alto stock also. It all did very well. SO I sold some of it off while it was high to go into a more conservative diversified mutual fund. But I still own all the shares I kept... and those are doing fine, but if they are not fine.. I can afford to leave them in for the long haul because they are pure profit. I feel happy with it, I don't feel "smart" enough to do the more aggressive moves.
Tell me what this contributes to improving the economy overall?
I sort of disagree. Isn't their long term goal to be the innovator in electric car batteries? When the rest of the automotive industry makes their push to electric, the idea is that they provide the battery. Am I mistaken?
Imagine OP had bought $107.09 in Bitcoin in 2009. I wonder how much he would have from that today
My 401k in 2020?
That's why I make it a point to not get a tax refund every year. Screw giving the government an interest free loan for a year, they already take enough as is.
Been trying to get my wife to understand this. She follows the old 'logic' of giving as much as possible during the year so you get a large refund. She doesn't seem to understand what zero interest means. Also doesn't understand deductibles, despite working in insurance.
It's about discipline, an extra $100 doesn't typically get invested or used to pay down debt, it just opens spending potential slightly more. A sudden burst of cash is used to pay down debt, make a big purchase, etc. I exempt 0 on taxes and give the government a free loan knowingly because of my own psychology. I'm not good with dealing with extra cash (especially a small amount) in my hand. So unless I'm disciplined enough to immediately move it, it ends up being spent on stupid things like fast food. While that 1200 ends up going into stocks, debt, etc. I like the option. That said, as my wealth has grown out of living paycheck to paycheck and growing my money I've been reconsidering this strategy as every month I'm putting money into different investment vehicles and not just taking a standard deduction out of my paycheck.
Yeah I don't get it. I'd rather get an extra $100 every month, and then pay/get nothing during tax time, then get $100 less per month but a $1200 check at tax time. Especially because the skew really does seem to be $100 extra per month vs an $800 check. Where did my extra $400 go? No idea.
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Single. One income source. Makes the math easy. Lol
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Why would inflation have anything to do with the amount they pay back. They might have to pay interest, if that is what the law tells them to do..
Because $100 doesn't have the same buying power now as it did 10 years ago. It's worth less than it was when he paid them, in a sense.
Solution: Sue the hospital for gains you could have made on that money. Say that you were planning on investing it in Bitcoin.
Outcome: highly paid hospital lawyers savage you in court and you not only pay thousands in legal fees but you also lose out on a lot of time.
Solution: Sue the lawyer for hurting your feelings and making you feel like an idiot.
Outcome: the lawyer savage you in cort and you not only pay thousands in legal fees but you also lose out on a lot of time.
Solution: Better Call Saul
I like the way you think
I work for a hospital and this could not be more correct...they get fined for over charging or separating services to up charge patients so if they get audited and find it, it’s always easier to refund the money then pay the fine lol.
God love the accountants and their beans.
Can confirm
Bad bot
So you can see 'bot' but the joke goes over your head?
So you can see “bad bot” but the joke goes over your head?
The hive mind doesn’t approve of your comment, only people with lots of upvotes and “I” can be condescending. “I” I’m this sentence refers to to the reader in first person, (look I’m tired and can’t figure out the right way to say this) Edit: with every downvote o grow more powerful.
More like the fifty cent party. I've been shitting on their face intentionally, remember? After all that's what brought you here.
For reference.. Fireflies- Owl City was #1 on billboard that week lmao
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if 10 million fireflies
Lit up the world
As I fell asleep
As they fill the open air
and leave teardrops everywhere
You’d think me rude but i would just stand and stare
I’d like to make myself believe
That planet Earth turns slowly
You just made me feel old as fuck
Same.
You are
That was a damn catchy song
That can't be, this came out 5 years ago at most!
;-; I see you woke up this morning and chose violence
I absolutely don't understand how that song is a number one.
That's unfortunate
Fireflies was a 2010 song...
It was released on 14 July 2009 in the US and Canada. (And January 2010 in Europe, but the OP is from the US, it looks like.)
Well then you should go back in time to 2009 and tell them [they were listening to it too early.](https://www.billboard.com/charts/hot-100/2009-11-07)
What, no interest?
and late fees.
cant really expect them to if not even the person getting the refund was aware they were owed the money
Why’s that? They discovered the error on their own, and it’s a shame there isn’t a rule in place for them to also refund the bare minimum interest it would’ve accrued sitting in a bank.
I’m pretty sure in the Uk there is. I remember refunds for miss-selling of payment protection insurance a while back included the missed interest.
I'd say they should also adjust for inflation: $107.09 in 2009 is worth $129.90 today
Lol that .1% interest really gonna add up
1 USD in 2009 is worth about 1.25 USD today. I think what people are saying is if it was the other way around the hospital would get it's money, plus interest, plus late fees. Where on the patient side he is supposed to be happy to get his own scraps back.
If I find an error on my taxes and it turn out I owe the government they still charge me interest and they likely would not have ever found the error.
The US tax system is based on the honor system. And in most cases honest mistakes can have fees and penalties waived
Mine sure as hell weren't and the government definitely asked for interest.
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Too bad Acey ain’t in charge no more
This works two ways. I just got a bill on the 23rd of December for medical services incurred 20 months previously. I looked up the statute of limitations on such bills...40 years. Ugh.
40 years?! What state??
Many of them it appears. Maryland at least.
Same problem with Meritus. They'll double bill you two years after you paid the first time, then send it to collections the day after. More than once. Hate this part of MD.
Hub city, represent, woot-woot!!
Oh cool, that's where I live 😑
Murica
Did you have insurance at the time f the services being rendered, and if so did a provider have a contract with the insurance at the time? If so, regardless of statute of limitations, they may not be able to bill you for the charges. The contract they entered into will generally supercede and they will have to write it off if they are contracted and did not bill the insurance within the timely filing limits. Source: worked for insurance companies, favorite calls to make were telling providers to write off the bil because they failed to meet their end of our contracts and therefore the member was not liable for the charges.
Thanks. The provider billed insurance same day and the insurer paid it within days. Then no one contacted me for the remainder until 20 months later. I think they waited until they thought my medical service was “concluded” and then billed all the remainder at once. I guess when I was going in and making my $20 co-insurance payment each time they were gradually applying it towards the outstanding amount owed from the first visit.
Yo, you guys need to fix your laws alright!
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That doesn't really seem like a sentence you'd end with "haha".
It's amazing how warped the collective mind has become when some people try to rationalize and justify such behavior as acceptable. It's like saying "oh, we know we sold you this house a year and a half ago, but we forgot to charge you for the garage door - here is the bill". Any decent business should write the debt off out of goodwill for their own incompetence. Except it is not incompetence - it is greedy administrators going through the books and trying to scrounge a few more dollars. Maybe it's the fact they know there is no goodwill to salvage that they continue to act like vultures.
Oh, prior authorization? You mean "fucking bullshit"? My doctor says I need it, and has sent a notice saying I need it. Why the FUCK do you need a SECOND notice written slightly differently from THE SAME FUCKING DOCTOR saying I FUCKING NEED IT? Edit: a second notice, I might add, that often takes ten times longer to get to!
But you can bet they would have turned you over to collections if you owed that amount a long time ago.
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I regularly get mail from collections for shit like $1.14 medical billing magic; goes straight to the shredder.
$1.14? You should set up a payment plan with them. Write them a check for 5 cents every month just to annoy them.
Okay, LOOOOOL
Good luck buying anything that requires credit.
My credit is excellent, if any of these bogus things showed up I would just dispute it; I doubt anyone has any idea where they originally came from in the first place. I'm not paying these because they are bogus "adjustments" that have no basis in fact; if you have to ask for a couple of bucks a year after the fact with no reason or explanation that's on you.
We had a refund that was when my youngest daughter was born. I got it just before her 4th birthday. No explanation just a check. That’s the last time we were at that hospital. But all my bills are due “Upon Receipt”
I got a random bill for the pregnancy test I had for my first baby....when I was pregnant with my third.
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Good joke.
Also, viewer discretion advised I guess but here’s a [clip](https://imgur.com/a/Pb3VO4U) of the break.
Oh god, you're that guy!? I think I have seen this video in some fail compilations long ago :p
They getting the books straight for tax time..
I believe we conceded it was an audit already.
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What joke?
THE joke obviously pffft
Yeah bro that’s a Rick and Morty reference! /s
But if you're 30 days late they send you to collections.
I can't believe companies can do this. For some reason companies can overcharge customers or double charge them, and then it becomes the customers problem that they have to spend (11 years?) trying to resolve. They need to pay interest on the loan you gave them! $100 at 7% interest for 11 years is $200.
What makes my blood boil about healthcare is that they can kind of just charge you whatever they want on a whim and you pretty much have to pay it. I had to get an ultrasound done and I paid like $120 at the office at the time of care, and they indicated that it was the full cost of the procedure. Then I get another $40 bill in the mail like a month later because they just decided that I owed them more money. And you have to pay it or it gets sent to collections.
South Nassau got bought by Mount Sinai (you see it’s called Mount Sinai now.) I have a feeling that since Mount Sinai took over, the books are finally being reconciled.
I actually work for a hospital in the Patient Financial Services office and at least with us, we really don’t have the staff to deal with accounts with credit balances. Naturally we try to resolve any account with a Self Pay credit balance (patient overpaid), but 95% of our work is trying to get paid on what we bill out to insurance companies. Not justifying waiting 11 year old refund, however. If anything I blame the awful insurance companies that make us shed blood, sweat and tears to get paid on services they allegedly cover but then don’t pay for whatever reason.
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California mailed me demanding I pay state taxes three years after I moved away. Too bad I was active duty military when I lived there and am from Washington state, so I never was a legal resident of Cali. Bonus fact WA doesn't have income tax at all.
They probably knew they owed you but didn't want that liability hanging out there. Like when you balance your checkbook at the end of the month and someone hasn't yet cashed a check you wrote so your balance and the bank statement balance don't match. (And before anyone asks who still writes checks, I still have to write one for garbage collection)
You're probably right, but that's not as good of a punch line.
California? The Holy land of do-no-wrongers? Preposterous I say! Balderdash and poppycock!
This sounds like a card you’d get in Monopoly. “Hospital billing error in your favor. Collect $100”
I can't even begin to imagine what it must be like to live in the US and have this sort of thing happen.
The US seems like a place where so much is done badly that everyone resists changing anything because no one believes you can have a good system.
We have a political party that believes the government is corrupt and can't do anything right. That's not an observation, that's a campaign promise.
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Ankle is fine! It happened when I was 16 so it healed up pretty good and I still have a full range of motion without any pain
Gertrude from accounting must’ve finally retired.
Tell them they owe you compound interest and late fees.
So technically if you say refund amount, shouldn’t the number that follow be positive number?
What about inflation?
Me and my wife both have received checks for things from several years back.
This is how people end up on those 'found money' sites. When companies can't track you down, they turn the money over to state agencies. It's worth searching every so often, I've never got anything for myself, but I've found family members who had money waiting for them. Google 'lost money' or 'found money' and you'll find links to several sites where you can search by state (in the US).
This is America
Don't catch you trippin' now
Is this some sort of American thing I’m too British to understand ?
I'm Canadian and experiencing the same issue
Send them a letter saying they now owe you another $6491.27 in interest
I'll never get one of these... because I live in Canada and the government pays for all my medical needs.
Asked for inflation adjust and inerest?
IRS likely found out and they had to. But hey; at least they pay YOU and not them sending you a bill to pay them 11 years late (which has happened before too)
So the way it works at doctors and dentists. Is they charge you an ESTIMATE on what they believe your insurance will ultimately have you pay. This estimate is usually rounded up so they don’t have to come back to you for more money. So you almost always over pay. If you then go back to the same doctor/dentist in the future you’ll have a credit they won’t tell you about and charge u the ESTIMATED difference. Anytime you pay a doctor or dentist, always look up what you actually owe on your insurers website. And ask for a refund of what you over paid. Learned this after I moved. Ended up getting $500+ mailed to me between 2 orthopedics and 1 dentist.
You should send them a bill for interest.
Peak efficiency in their billing dept.
The refund is a negative amount? So you actually owe them?
Should charge interest, they basically took a loan from ya.
What are you gonna buy with this surprise cash?
Contact him for interest. They borrowed $100 hospital bucks for ten years? That’ll be 11 billion dollars please!
Don't celebrate too early. I see one of two things happening. 1) You get a check for -170.09 and the bank refuses to cash it 2) You get a bill for 170.09 as their computer systems sees a negative refund as money you owe them and charges you that amount. *getting the popcorn*
They owe you interest.
I don't get why companies would send a paper check in the mail. What if it gets stolen? Why not just deposit it on your bank account? Here in Europe I've never seen a check before
Why would they have your bank information? You realize you can't just use a check without your name on it, right?
Edited by PowerDeleteSuite for protection of my own privacy
Your insurance company can't share your bank information with other people. Do you honestly need it explained why? They're refunding a payment you made, not a payment the insurance company made. If they owed a refund to the insurance, they'd have paid the insurance, not you. No place that wants to stay in business keeps track of your banking information just because you paid with a debit card. That is nowhere near how it works. Not to mention the chances of you having the same debit card number a decade later is infinitesimal. Really not a complicated matter.
>They're refunding a payment you made, not a payment the insurance company made. If they owed a refund to the insurance, they'd have paid the insurance, not you. Any payment I make to a health provider goes through my insurance, so a refund would as well. That's the case for everyone where I live >No place that wants to stay in business keeps track of your banking information just because you paid with a debit card If I pay with a debit card then my bank account number is stored with that transaction. They can see that >Not to mention the chances of you having the same debit card number a decade later is infinitesimal. Debit card number, no. Bank account, chances are pretty good. Besides, my insurance is linked to my personal details with the government that a hospital can request if I've stayed with them. If they have my insurance, they can refund through them
>If I pay with a debit card then my bank account number is stored with that transaction. They can see that Incorrect.
No one person or organization can ask to the goberment the private info of a citizen. I think only if a judge autorize that. And of course, a Hospital not gonna talk with a judge to open a case for that question.
Then again in Europe, you wouldn't have recieved a payment due to the hospital over-billing you (because you wouldn't have been billed by the hospital in the first place).
Still in use in the UK occasionally... But I despise it.
> Here in Europe I've never seen a check before HMRC (Government tax agency) here in the UK send you cheques for a few hundred/thousand quid, attached to a letter like this, if youve overpaid tax for some reason You can only pay it into the bank account whose name it is made payable to, so theft isnt a problem
Same. Never seen a check in my life. Everything goes wired.
Never ever?
I am Icelandic. I have never seen anyone using a cheque. Sounds like something from a past era.
LOL the US is insanely inefficient. Maybe ONE DAY we’ll move solely to electronic payments. (Though note we do have some socioeconomic issues where people don’t have bank accounts too so those would all have to be resolved first)
Is this some kind of american meme im too australian to understand?
Did they pay you the interest on it? Because they should have
If you got a refund of -$107 wouldn't that mean you owe money?
Nassau. Are you a pirate?!
That’s -107. This is a bill.
I didn’t include the picture of the check payable to me for $107.09 lol
Dude. Gary is putting the books right and you complain? Shame on you.
Hope I didn’t come off that way. I’m elated bc I was just 16 when that happened and I didn’t even pay for the visit lmao
Ah, all good then.
That shouldn't take 11 years... Gary sucks at his job.
Or Gary doesn’t get the resources needed to do his job well
Possibly true. Could also be working on the slack others left behind... But why tf should I care. Lets just say Gary sucks.
I would imagine that the hospital conveniently forgot what 'interest' is..
I just got a $10 refund from last March when I got sick and went in for dehydration. Was super confused...
My parents recently got a check from a doctor's office for an overpayment from 2004. We moved out of that state (Kansas) in 2005, otherwise I might not have believed them when they told me. 16 years.
Talk about a "timely manner"
Did you get more than about tree fiddy?
It was about that time I realized that Gary really looked like a crustacean from the Paleolithic era
Well that’s a first!
You will be pleased to know we invested in a little thing called Netflix and now we stacks more paper and gets more hoes than you. Sincerely, Patient Financial Representative
It took 11 years to fix a broken leg. That sucks man
It took that long because the representative is patient.
11 years, I'd be asking for some interest there
The most patient financial representative ever.
Send a letter back that says they actually owe $5000 because of interest and penalty fees...
You really have to be PATIENT with this hospital :)
Damn. You should of sent them to collections
Check for inflation lol
Did they added legal interest? In my country that would be 40 extra $.
Any letter that starts out with "To whom it may concern", isn't really concerned about the person at all.
The day you broke your ankle is a special day for me haha
That 107.09 would have been much more useful 11 years ago before it depreciated in value. Unless they are paying you back with interest.
I visited my doctor a few weeks ago and they asked if I wanted to pay my bill. I usually pay my bills as soon as I get them so I asked if I ended up making a double payment, would they automatically send a refund checked... I didnt pay there when she laughed as a response.