  Consumers are sensitive to medical prices when consuming care, but delays in
price information may distort moral hazard. We study how medical bills affect
household spillover spending following utilization, leveraging variation in
insurer claim processing times. Households increase spending by 22\% after a
scheduled service, but then reduce spending by 11\% after the bill arrives.
Observed bill effects are consistent with resolving price uncertainty; bill
effects are strongest when pricing information is particularly salient. A model
of demand for healthcare with delayed pricing information suggests households
misperceive pricing signals prior to bills, and that correcting these
perceptions reduce average (median) spending by 16\% (7\%) annually.
