Even though Obamacare has theoretically extended medical coverage to all Americans, some still go without or buy into programs that don’t cover enough costs. This, combined with the rising costs of American healthcare, means that most of us can’t afford to get sick – especially those who are still young and working. Unfortunately, there are still so many people that are unaware of Medi-Cal benefits that could be able to help them.
The extreme cost of healthcare and rising levels of medical debt are all signals that we should be preparing for potential ill health. Here are 3 big medical costs many could face down the line, plus a few ways to put your health on the right track before it’s too late. Considering the rising prices of healthcare and many American’s not even having any savings, there could be a potential you could face ill health or bankruptcy in the future. Having a look at pages similar to this one on the GoFundMe site, can offer information to avoid bankruptcy or find financial relief due to medical bills.
Having A Baby
Considering how costly it is to have a baby in the United States – averaging out at about $10,000 – it’s hard to believe that the USA also has one of the highest infant mortality rates in the developed world. In Argentina, Switzerland, and Spain, on the other hand, the costs of a normal delivery is under $3,000.
If you’re planning to start a family, having insurance is absolutely vital. Obamacare requires insurance plans to cover maternal healthcare costs, so it may be worth buying in through the marketplace if you don’t have equivalent coverage through an employer.
Addiction Recovery
It’s debatable how much addiction to drugs or alcohol is a choice and how much is due to predetermined brain wiring, but either way recovery can be costly – as are the choices that lead up to it. Smoking won’t put you in rehab, but the average smoker spends $300 a month on cigarettes. Addiction to alcohol or hard drugs can run up a much higher tab.
If you do need to go to rehab – and if you’re suffering from addiction, formal treatment is often necessary – there are many different types. Many programs offer the choice between residential treatment and day programs, with day programs typically costing much less. Ultimately, the most important factor is whether or not you’re comfortable and receiving well-researched, evidence-based therapies as recognized by groups like the National Institute On Drug Abuse.
Long-Term Care
Americans are living longer than ever before, but not always with good health. In order to handle end of life care, it’s important to plan early. Long-term care insurance is often a good way to cover everything from standard hospital care to nursing homes and hospice. These plans can also protect your retirement savings.
In addition to buying insurance, be sure to make clear end of life care plans with your family. Having an advance medical directive can save you from receiving treatment you don’t want in an emergency or having your life artificially extended against your wishes. We may struggle to talk about death as a culture, but discussing how we want to spend our last days is a conversation we should all be having.
Don’t let expensive medical costs hang over your head. Plan for what you know is coming and create emergency plans for the unexpected. Poor health can strike at any moment but we can all take steps to be better prepared.
