Healthcare costs don’t have to eat away your savings.
You went through the Healthcare.gov Marketplace, called your AC Financial Adviser and bought your healthcare coverage, but is that all you need? When it comes down to it, paying deductibles and coinsurance payments can be overwhelming. Then throw in even a one day hospital stay, with an average cost of $1,200 to $2,200 or an emergency room visit because of an accident or injury, and everything you’ve worked for slips backward.
The number 1 reason people are filing bankruptcy in the United States today is because of the high cost of medical care. According to a study published by NerdWallet Health in 2013, 56 million people under the age of 65 have a hard time paying their medical bills. Of those 1.7 million filed bankruptcy because of their medical expenses. Although the Healthcare Reform Act may have remedied some of that, many of those still can’t meet their medical bills because of high co-pays and deductibles, lost income from time off work and uncovered expenses.
With flu season upon us and the vaccine we’ve been given fairly ineffective, many people are succumbing to the virus. Scores of people not only end up with the flu, but pneumonia on top of that. A few days in the hospital on antibiotics can quickly eat up a savings account. A hospital indemnity policy, which pays benefits over and above your health insurance will give you the peace of mind to go through this flu season and those to come. The policy pays a daily benefit should you be hospitalized for any reason, and there are no co-pays or deductibles. You can use any hospital or doctor and the benefits can be paid directly to you or your healthcare provider.
Accidents and injuries also tend to happen when we are least prepared financially. One slip on an icy step can send you to the emergency room for several thousands of dollars worth of care. An accident fixed benefit policy will help fill that gap in coverage to help meet the out-of-pocket costs for those times. Not only does the policy pay for uncovered expenses, but also the things you may not consider, like time you have to take off for doctor visits, follow-up care and physical therapy.
Medical expenses don’t have to break you or cause you to lose everything you’ve worked a lifetime for. Call an AC Financial Adviser at (800) 574-3136 to learn more about your options.
