Healthcare in the United States is nearly twice as expensive as it is anywhere else in the world – assuming you’re comparing against similarly developed countries. In fact, for many households, health is synonymous with a financial burden that can put you by more than $8,000 out of pocket.
Indeed, health complications and issues can have dramatic consequences on your lifestyle, from losing your job to increasing your insurance premiums. It makes it ultimately impossible to maintain your lifestyle when you’re not healthy. Consequently, it’s fair to say that in the U.S. health is not only precious, but it is priceless.
Illnesses and serious injuries are the leading cause of financial worries in the household. Despite the abundance of crowdfunding campaigns and the generosity of thousands of anonymous donors who help families tackle crippling medical bills, most people are left unable to recover the financial and emotional burden of their health condition. The correlation between your medical situation and your anxiety has long been demonstrated; the more you worry, the more pressure your body has to sustain. While eliminating the financial burden doesn’t cancel the disease, it increases your chances of getting better.
Do you have a Plan B?
We can’t say it often enough: You need an emergency funds plan. Indeed, you can’t go through life without planning for unexpected expenses. However, for most household, freeing up some money in a tight budget is challenging. Don’t wait until it’s too late to cut your expenditures and create an out of work plan. Indeed, you can review your current situation to identify areas where you can save money. For instance, you could cycle or walk to work instead of driving, which can help you to put some money aside. Additionally, cost-savvy habits such as avoiding takeaways and cooking instead can go a long way!
Is there financial support available?
Your employer might be able to provide the necessary insurance cover. Indeed, more and more employers have private health insurance perks and even financial support for their staff to consult medical specialists. Should it come to the worst, it’s not uncommon for companies to provide life policy cover to members of their team – you can find out more about it here. This cover is designed to support your family in a difficult situation, but you can find specific circumstances where compensation can also be used by the employee – for crippling illnesses that require dedicated care, for instance.
Staying healthy is free: preventive measures
Last, but not least, in an environment where the healthcare system is getting more and more expensive, it’s easy to forget that looking after your health is the ultimate free preventive measure you can take. Indeed, focusing on a healthy diet doesn’t involve additional expenses to your routine. Keeping a regular workout plan doesn’t need to break the bank either. From joining a gym – you can find discounted membership via most employers – to taking on running outdoors; you only measure your health in the time you invest in it.
You can’t avoid health risks, from unexpected accidents diseases. However, you can take precautions today to prevent the financial burden of poor health. From organizing an emergency fund to planning for your insurance cover, you’re not defenceless against health issues.