How Did This Happen? The Unexpected Happens

Part 1: Sudden Medical Bills
I have read countless stories about families that were doing fine financially, even great, and then the unexpected happen. Either a sudden job loss or an unexpected illness happened to them. Finding another job took much longer than expected. Medical insurance didn’t cover the cost of the illness. Huge, mounting credit card and/or medical bills began to mount. This article will focus on medical costs and I will put up another article on unexpected job loss.
One way to insure that the job loss or unexpected medical debt does not get to be unmanageable is to have a large Emergency Fund. Can’t stress it enough! Three to six months of living expenses is what you need to have in the bank. Read any of Mary Hunt’s books for more information on the large emergency fund. Medical debt can be tackled and paid off but it is difficult. I am personally acquainted with a woman who paid off over $100,000 in medical debt. It can be done! She is no longer able to work at a regular job but she does work from home at her own business. She is married and her husband’s salary and benefits insure that it huge medical bills won’t happen to them again.
Don’t put medical bills on a credit card. When you do that you put yourself into the terrible position of being controlled by the credit card companies. The interest rate, even a “low” 12% can push up the total costs of the debt. One person told me that you can have your medical and non-medical bills separated on your credit cards. This makes debt repayment different. If you do have medical bills on your credit cards, call the credit card company and see if it is worthwhile to arrange to do this.
You can seek relief from the doctors or medical group that you are getting treatment from. I did this when we had no insurance and my daughter’s allergist gave me a 25% discount and many free samples. Still, I wrote a check for the total amount of the visit. If you are facing a large medical bill, call the billing office and explain the situation. Many times the billing person will work with you. Whatever you arrange, ask for something in writing to be sent to you. This way you both know what was agreed. Here is a website produced by the Wisconsin Dept. of Health Services. It offers better advice on medical costs than I can and it links to other useful, reliable web sites: http://dhs.wisconsin.gov/guide/spec/probdebt.htm
Prescription drugs are a huge cost. Ask your doctor for free samples. You can use the Costco pharmacy even if you are not a member but you must pay with cash or a debit card. I get a prescription there for $190 that was available at Wal-Mart for $234. Call around for pricing to all the local pharmacies, although Wal-Mart does tend to be cheaper. Drug companies have a program where you can apply to them to furnish free prescriptions.
Most of the drug company’s web pages have directions on them about how to apply. If you can’t find it go to the public library and ask at the information desk for help. MedBankUS is a non-profit company that asks for a $10 donation and they will do the work for you. http://www.medbankus.org/ You must be financially eligible though.
This internet resource has coupons for different drugs. My $190 prescription has a coupon for $10. Not a big savings but every little bit helps. http://www.internetdrugcoupons.com/
Buying prescriptions from Canada is an option. My doctor discouraged me by saying that the prescription she writes is not good in Canada. A Canadian doctor has to rewrite the prescription. How do I know that it will be the same? The other thing she pointed out is that I cannot be sure that the pills that I get from Canada are what was ordered. This did discourage me from ordering from Canada, at least for the present time.
Another way to save on prescriptions is through mail order. I have not done and I don’t know if it is worth it for me. But definitely it is worth checking into.
For more information here are two helpful websites:
http://www.oag.state.md.us/consumer/ibt10.htm MD. Office of the Attorney General offers tips on reading your hospital bill.
http://www.oag.state.md.us/Consumer/heau.htm MD. Office of the Attorney General, Health Education and Advocacy Unit offers help in disputes with your health insurance plan.