Take Three of These and Call Me in the Morning
February 08, 2012Recently, I took a trip to the urgent care center. I think someone should sue them for false advertising because there was nothing “urgent” about it. I’d been warned that wait times to see a doctor could get lengthy, but when I pulled into a vacant parking lot and walked into an empty waiting room I was beginning to feel optimistic. I was even more hopeful when I was called into the examination room after spending just 15 – 20 minutes in the waiting area. Sadly, I discovered the rumors were true; I sat in examination room #2 for over 75 minutes before being seen.
The doctor was apologetic, informing me that he was the only one on duty at the moment. That did little to assuage my frustration. After all, I was only there to get a prescription for an antibiotic because after 2 ½ weeks of sinus and chest congestion, I was sure it was more than just a cold. The doctor agreed—either that or he was just happy to get me out of there—so with a prescription for my antibiotic, and another for a narcotic to help me sleep at night (hey, why waste a trip) I was on my way.
I learned several things that day:
1) A 10-minute consult with a doctor runs you about $150 (and that’s the insurance price)
I know healthcare in general is expensive, but with HMOs and PPOs it’s easy to forget that the cost of medical care is more than just a co-payment or deductible.
2) Drugs are expensive
I’m sure this is no news to you, but I’m not the one that is usually filling prescriptions. (With four kids it’s usually my wife that ends up running to the local Rite Aid.) Even with generics, my prescriptions ran around $78.
3) An unexpected illness can cause problems on your cash flow
If I do my math right, this “simple” visit is costing me over $225. Fortunately, by having set aside money in a health savings account, I was prepared to pay for it but imagine if my illness were more chronic.
Sometimes we take our health for granted but ask anyone that has ongoing health issues and they’ll let you know just how financially difficult it can be. We probably won’t find the cure to the common cold anytime soon but here are some things we can do to protect ourselves and our loved ones from financial complications that arise when dealing with health-related issues:
Purchase health insurance
I imagine that could have gone without saying but it’s worth repeating. If you are employed, your employer may offer access to group coverage, typically at favorable rates. If you are separated from work, you may be eligible to continue your group coverage for up to 18 months under COBRA. If you are self employed or not covered by a medical plan at work, search for individual plans using a service like HealthCare.com or eHealthInsurance.com.
Build healthcare cost into your spending plan
Having medical expenses is not a matter of if, but when. You should estimate how much your family spends on healthcare on average each year and divide this annual amount by twelve. Set that amount aside each month in a separate savings account. If you participate in a high-deductible health plan, use your health savings account (HSA) as your savings account for healthcare costs.
Live a healthier lifestyle
We’ve all heard it: exercise, eat right, and get plenty of rest. Exercise can be as simple as taking a walk around the block. Eating healthy foods will not only make you feel better and possibly get sick less often but buying fresh foods tends to be less expensive than buying processed pre-packaged meals. And finally, there is no perfect amount of sleep, but lack of sleep has been linked to health related problems. The National Sleep Foundation has a chart that suggests an appropriate amount of sleep based on an individual’s age.
I can’t guarantee you’ll never get sick again, but at least if you do, it won’t create unnecessary financial problems, which is also good for you since financial problems can lead to stress and we all know what stress can do to our health. So take a deep breath, go for a nice walk, and choose to take some simple steps to make 2012 a little healthier than 2011. Your body, and your wallet, will thank you for it.