If you’re sick and don’t have a wealthy aunt or uncle to turn to, you may try your luck with a wealthy YouTube personality like Jimmy Donaldson, nicknamed MrBeast.
People all around him saw goodwill when he posted a video in which he paid for 1,000 cataract surgeries. Donaldson used the money he made from his 136 million members to help people.
“Why don’t governments step in and help? Even if you’re thinking purely from a financial standpoint it’s hard to see how they don’t ROI on taxes from people being able to work again,” he pointed out in a tweet.
And perhaps Donaldson made those who disagreed with his envy.
This may be especially true for the enormous number of sick or recovering people who are drowning in medical debt or facing costly medical treatments. According to a 2022 Kaiser Family Foundation study, more than 100 million American people, or around four in ten, were plagued with debt due to medical or dental costs.
According to a recent study from the Robert Wood Johnson Foundation, more than 15% of Americans have past-due medical debt, and over 73% of those persons owe all or part of that debt to hospitals.
All of this is to say that there are simpler ways to keep healthcare expenses under control without needing to search for a wealthy family or beneficent Beast.
Preventative care beats any cure
Regular check-ups, vaccinations, and screenings assist in finding health problems early and lower the probability of costly treatment later on. Many insurance plans provide free or low-cost preventative care. Most states agree with you on this, requiring private insurers to pay for telemedicine.
Where your insurance does not cover alternative procedures like acupuncture or herbal medicine, flexible spending accounts and health savings accounts can. Just make sure you get a Doctor’s Letter of Medical Necessity first.
Make the call on telehealth
Patients can consult with healthcare providers remotely through telehealth services. During the COVID-19 pandemic, when visiting a doctor’s office or clinic was not possible, they grew more popular.
However, they continue to be a convenient and cost-effective option, especially for non-emergency care.
Telehealth is now covered by many insurance plans, so consider it for routine check-ups, consultations, and even certain urgent care requirements.
Make prescription shopping your Rx
Comparing prescription drug pricing at several pharmacies might result in considerable savings over time.
Some pharmaceutical companies will provide introductory pricing on medications, and discount programs and price matching can also be beneficial.
Speak up when visiting your pharmacy to ensure you get the best price, and consider generic drugs as an effective, cost-saving solution.
Do the due: Negotiate medical bills
While large medical bills can be intimidating, providers and collectors will often accommodate you if you request them. Ask about payment plans or financial help programs to bargain or negotiate with insurance or care providers.