Thursday, October 2, 2014, AM | Leave Comment
The Affordable Care Act in the United States gave all residents access to health insurance regardless of any preexisting conditions.
Even if you have private health insurance or coverage through your employer, there are still things that your policy won’t cover.
Learning how to budget and pay for those costs can help you relax when you face an unexpected medical bills.
Pay for Supplemental Insurance
According to Family Dental Centre, a dentist in Belleville, supplemental insurance is one of the best ways to pay for healthcare and dental costs.
Supplemental insurance is a type of health insurance that covers things your normal policy doesn’t cover.
For example, if you need to see an emergency dentist because of a broken crown, a new partial plate or dentures, your dental plan will only cover a portion of your costs.
Supplemental insurance not only covers the costs of those treatments that your dental insurance doesn’t, but it may even cover procedures done by dentists outside of your normal network.
Use Your Savings Account
Sit down with your receipts at the end of the year and determine how much you spent out of pocket on health care the year before.
Divide that number by 12 to figure out how much you need to save each month. Even if you don’t need the money that month, you’ll have the money on hand when you do need it.
Take advantage of any health savings account offered by your employer as well. An HSA gives you money that you can use on health expenses not covered by your insurance.
Write Off Your Costs
If you work from home, run your own business or meet some other basic requirements, you have the legal right to write off a portion of the expenses that you incur on your taxes.
You’ll need proof of what you paid for, and you generally can’t deduct the cost of items you purchased over the counter or items that aren’t medically necessary.
Writing off a portion of your costs can give you money to pay past and future medical bills.
Look for Financing Plans
Many dentists recommend that patients should look at financing plans. Similar to credit cards, these plans let you use the credit you qualify for to pay for treatment and then pay off that amount with monthly payments.
When you don’t have cash for an expensive medical procedure but have good credit, this is a good option.
Even the healthiest of people can face some unexpected medical bills. Writing off costs on your taxes, putting money back, choosing a finance plan and buying supplemental insurance can help you budget for the treatments that you need.Facebook.com/doable.finance