What is the minimum monthly payment on medical bills?

There's no single, universally mandated minimum monthly payment for medical bills. The minimum payment amount depends entirely on the following factors:

• The billing entity: Hospitals, doctors' offices, insurance companies, and medical billing agencies all have their own policies and systems. Some might have a minimum payment stated on the bill itself (e.g., "$50 minimum"), while others might not explicitly state a minimum. They may only specify the total amount due.

• Your payment agreement: If you've arranged a payment plan with the provider, that plan will dictate the minimum monthly payment. This is usually negotiated based on your ability to pay.

• Your insurance coverage: Your insurance company's payment towards the bill significantly affects what portion you're responsible for and, consequently, any minimum payment they may set for your portion. The amount you owe after insurance will be the basis of any payment plan.

• Debt collection agencies: If your medical debt goes to collections, the collection agency may set a minimum payment. This is often a lower amount than what was originally owed, but it's still a crucial amount to pay regularly to avoid further negative consequences on your credit score.

In short: Always check your individual medical bills and any payment agreements you've made. If unsure about a minimum payment amount, contact the billing entity directly. Failing to make any payment, even if it's below a perceived minimum, can lead to late fees, penalties, and negative impacts on your credit report. Even small, consistent payments demonstrate good faith and can help avoid more aggressive collection actions.