With the coronavirus pandemic making headlines every day, your family’s health is likely on your mind a lot lately. You try your best to keep everyone safe and healthy, but sometimes, there’s no way to prevent a Family Medical Emergency. Accidents happen, and when they do, they usually rack up big bills.
If you’re uninsured, an unplanned trip to the doctor’s office or the ER can break your budget. And let’s be honest — it can be a challenge even if you have insurance.
When money’s tight, it can feel like you’re in an impossible position, deciding between your family’s health and your budget. But there are ways to handle unexpected bills, even when you’re broke. Here are some of the Family Medical Emergency below.
Confirm the Bill is Correct
Firstly, you’ll want to go through your bill line by line to ensure you’re not paying for anything you don’t have to.
Sometimes, you’ll notice you’ve been up-charged for basic services and products, which is annoying but completely legal. However, you might catch a hospital breaking the law. Some healthcare providers in Mississippirecently got in hot water after sending patients out-of-pocket bills they didn’t need to pay.In either case, you’ll want to challenge anything that doesn’t seem right.
Ask for a Payment Plan
If every charge on your bill is legitimate, you’ll want to speak with someone from the billing department about a payment plan. Many physicians and healthcare practices are willing to work with you to find a payment schedule that fits your finances. You may even be able to reduce what you owe!
Take out an Emergency Loan
If you’re stuck paying out-of-pocket for your bills — or you have to scrounge together cash for a deductible — you may borrow an online installment loan. These online loans are designed to help with urgent yet unavoidable expenseslike an unexpected trip to the clinic.
They’re easy and quick to apply for—you can even apply for one from your phone while waiting in the doctor’s office. Just be sure you’re searching online for the right kind of installment loan. If, let’s say you live in Mississippi, you’ll have to narrow your search to installment loans in Mississippi. That’s because only lenders licensed in this state can offer installment loans for Mississippi residents.
Look into Insurance
Health insurance is often the best way to handle large medical bills outside your budget, so it’s time to think about getting insured.
If you do have insurance, you may want to shop around for a better policy or adjust your deductibles to get better coverage in the future.
If you can’t afford to pay a monthly insurance premium, don’t worry. When money’s tight, you may qualify for coverage under the Affordable Care Act, Children’s Health Insurance Program, Medicare, or Medicaid.
Start Budgeting for Emergency Expenses
You may not be able to predict if or when your children get sick, but there’s a good chance that one day they will experience an illness or injury. Remember this when you make your next budget. By setting aside some money each month in an emergency medical fund, you’ll be in a better spot the next time something happens.