Posts Tagged ‘Medical needs’
Thanks to my cooperative, I was refunded with part of my hospital bill during my confine last February 12 -17 due to Hemorrhagic Dengue Fever. The Mutual Aide Fund of FICCO refunded me with my 5-day room accommodation and percentage of my medicine expenses. Now that my son is hospitalized again due to a motorbike accident, I am thinking of getting a medical insurance for the whole family. It is surely a great help in times of emergency.
Emergencies always come unannounced. You can’t really plan when to get sick, or decide on how long before you get better. You can suddenly find yourself very ill, spending time in the hospital, or even battling a long-term sickness. Health problems happen, and usually through no fault of your own. What’s even more difficult with a health crisis is figuring out how to pay for your new found medical bills. Even just one visit to the emergency room can wipe out a savings account.
So, what options do you have when it comes to financing your medical needs? Thankfully, there are a few options available to you.
- Savings account. One of the best things you can do is to prepare for an emergency. Setting up an emergency savings account, before a health crisis hits, is a safe choice. Putting just $10 or $20 a month into a savings account that you don’t touch until it’s needed may help you have enough to cover a medical emergency.
- Personal cash loans. Having enough money in a savings account for a health emergency is ideal, however it’s not always practical. In today’s economic climate, many people find it hard enough to make every day ends meet, never mind trying to save for an emergency. When a medical expense comes up, a cash advance loan can really help to pay for those unexpected bills.
- Hospital payment plan. In some cases, you can work directly with your hospital or doctor’s office to pay your bill on a monthly basis. Doctors’ offices understand that bills can add up. Just ask if your doctor has payment options available.
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Supplementing Health Insurance
If you’re among the few who have health insurance through a job or other means, consider yourself lucky. Many people have lost their health insurance coverage and no longer have the luxury of relying on a health insurance plan. However, even with health insurance, medical bills can become hefty – and very quickly. You need to have a plan in place to supplement your health insurance. Any of the above options can help pay for the expensive deductible or for a medication that isn’t covered by your plan.
When it comes to medical expenses and emergencies, the important thing to remember is that you do have options. You don’t have to go into excessive debt or declare bankruptcy just because a medical condition arises. Know the options available to you and then take the steps necessary to prepare yourself and your family for medical related expenses.