It seems like every time I read the news there is another story about someone in financial trouble because of a sickness or injury. These are good people. These are folks like you and me; working hard to take care of themselves and their families. Most recently, I read an article about a school teacher who was diagnosed with cancer. The story didn’t focus on her illness as much as the difficulty and wait time she endured trying to get social security disability payments. Her illness presents many challenges and her road to recovery will be rough, but she seemed equally concerned with her ability to pay her bills.
Sadly, these worries are more and more common. In fact, the American Journal of Medicine reports that 60% of bankruptcies in the U.S. are due to medical bills and that most who filed for bankruptcy had major medical coverage. This doesn’t come as a shock when you consider that most major medical plans are fine but leave patients with the responsibility of co-payments and deductibles. Some healthcare providers and some medications may not be covered at all. Additionally, there may be extra expenses to seek the best treatment such as travel or hospital parking. Then there are those other out-of-pocket expenses that still need to be taken care of like house payments, gas, food, transportation, and other bills. They have to be paid regardless of your health. Now imagine that you or a family member lose wages due to an illness or injury. The result can be devastating. More often than not, people deplete savings, seek loans or have to borrow from family, friends, or even their employer.
Fortunately, there are specialized benefit plans designed to provide cash payments directly to patients and families regardless or how much their health insurance pays doctors, hospitals or pharmacies. These plans are often referred to as Supplemental Insurance and are provided by companies such as Aflac, Allstate, Humana and a few others. Access to these plans is easier than ever. More and more business owners are offering them as voluntary benefit choices at discounted rates. Some insurance companies also offer choice plans directly individuals and most can be customized to meet individual needs and budgets. The goal is to eliminate financial struggles and stress so that you can focus on the important things in life.
To find out more about supplemental cash benefit plans, contact us at barbara@fontigroup.com or call 631-393-6881 today.