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Make better sense of your medical bills

best in financial tech simplee
  • Company: Simplee
  • Cost: Free
  • Platform: Online, Android, iOS

Making sense of medical bills is almost as frustrating as having to pay them.

Simplee tries to cut out some of the confusion by creating an online mailbox where consumers can view, organize and pay their medical bills. The platform, called Simplee Wallet, pulls in billing information from about 80% of insurance providers and clearly lays out how much of each bill you're expected to pay versus what your insurer will cover.

It also recently launched Simplee Pay, a tool where patients at participating medical facilities can see whether the procedure they're about to get will be covered by insurance and how much it's estimated to cost them out of pocket. They can later pay the bill using Simplee's platform or set up a payment plan.

The incentive for medical institutions is that when bills are easier to understand and easier to pay -- and they're a lot more likely to get paid, Simplee said. So far, the company has tracked more than $3 billion in medical expenses. --B.E.

  @CNNMoney - Last updated January 03 2014 07:18 PM ET

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