4 Health Emergencies to Have Enough Savings to Cover
It is difficult to determine medical insurance coverage. This leaves many hard working families with large medical bills in the wake of needed care. Therefore, it is important to have additional savings for certain health emergencies.
Chemotherapy Drugs / Cancer Treatment
It seems counter-intuitive that Cancer treatment is on a list of either uninsured or minimally insured medical emergencies, but it is unfortunately.
Cancer is very treatable in today’s world, but it is very expensive as well. Such things as chemotherapy drugs, which can be prescribed and consumed at home in today’s world, often require a significant co-pay (often 80%).
This leaves many families in serious medical debt as they seek proper treatment for their loved ones.
Emergency Room Co-Pay
Insurance will often cover the balance of an emergency room visit; however, most insurance require a co-pay of at least $150.
For most families, the co-pay ends up on a credit card that collects interest. If it is a family with several young children, emergency room visits are not uncommon.
Those $150 co-pay charges can wrack up to over $1,000 of debt quickly.
Dental Care
Most insurance have an option for dental insurance coverage; however, most opt out of dental coverage because of the infrequency of seeing the dentist.
Furthermore, most dental insurance coverage minimally covers such things as root canals and dental crowns.
These are viewed, by most dental insurance plans, as elective or preventable procedures and will require a significant chunk of the bill is picked up by the patient.
The Eye Doctor
Ophthalmologist visits are recognized by medical insurance providers as a legitimate medical claim.
If you have cataracts or other form of degenerative eye disease that requires attention from an ophthalmologist, chances are it is covered.
What is not covered are visits to the optometrist.
Optometrists, by most providers, are not recognized as medical professionals. Therefore, to have a visit to the optometrist covered, you must purchase separate vision medical coverage with your provider.
Even still, vision medical coverage will not pay for prescription glasses or contacts. Therefore, savings for glasses or contacts would be prudent, so as to avoid surprise expenses in the family budget.
Do not mistake this list as comprehensive. Bottom line is to figure out what is not covered by your health insurance and set aside savings to cover such expenses, in the event they arise.
Share this:
Category: Health
