Finance Friday: True Cost of ‘Healthy’

I have been very sick the past few weeks. While I fortunately have not had to be hospitalized or anything like that I have had to miss a lot of work (due to illness or doctors appointments) and yesterday I had to have a minor outpatient procedure. Unfortunately, the diagnosis remains unknown.

However, I almost suffered a major heart attack when I got word of my insurance deductible: $500!!! I was literally brought to tears. They couldn’t proceed with my scheduled procedure until my heart stopped racing so fast. They were so concerned about my heartbeat that they had to perform a few unplanned tests before they could even proceed with what I was there for. The only consolation was that I didn’t have to pay the full amount then, I could be billed for the remaining balance.

Was this suppose to ease my anxiety? I’m already in the process of paying down my credit card debt, repaying student loans, and maintaining a roof over my head. Now this.

How many times have you heard people say that they cannot afford to get sick.

But it isn’t your wallets that should be at the forefront of your concern. Your health should always come first. Right?

Now I have an account for just about everything but health related expenses. And my job does not offer anything like a Health Savings Account, where I would be able to set aside money for just this purpose. I’m seriously considering whether it would be beneficial for me to open some sort of savings account OR to roll healthcare into my emergency fund.

Does this situation constitute dipping into savings?

Congratulations to Miss Gaga! Her new album, Born this Way, is projected to sell 1 million copies in its first week. So money!

AND, do not forget to honor this Memorial Day Weekend for its original purpose: Thank You to all of those that have served and continue to serve our country.


2 Responses

  1. Stumbled upon your site randomly and have been following since. Sorry to hear of your illness. Hope you feel better and things turn out alright. In my opinion, yes this constitutes dipping into the savings. I probably keep more in my savings than I should (instead of investing) for this reason. You never know when a health issue will arise and those things are costly. But I didn’t feel a need to create a separate account for it.

  2. If you’ve got a high deductible, you may be able to set up an HSA even if your company doesn’t offer it. There may be fees involved, but then you’ve got non-taxable, saved money for this sort of crisis. Unlike flex-spending, you can’t lose it. If I leave my company, my HSA is coming with me. If I can do that, you should be able to set one up.

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