As we begin a new year, it’s important to keep in mind your healthcare costs. The average person will visit the dentist twice a year and see their primary care doctor every three years or every year, if they are over 50 years of age. If you require attention from a specialist or need to make an unexpected urgent care or emergency room trip, the costs can quickly add up. What is the best way to budget for these costs? Keep reading as we outline the most effective strategies when it comes to budgeting for upcoming healthcare costs.
Your Health Takes Priority
When budgeting for your monthly and yearly costs, it’s important to prioritize your health needs. Making sure you and your family are physically and mentally healthy should be your first focus. Although it can be costly, it’s important to budget when it comes to something as important as your family’s health.
Estimate Your Healthcare Costs
The first step is evaluating which appointments need to be scheduled yearly for each family member. Doing this will help you estimate the total cost for the year ahead. Talking to your insurance company and the doctors’ offices will help you get the most accurate estimations.
Set Aside Money For Emergencies
Emergencies and unexpected medical expenses are bound to happen. Obviously, these events are hard to plan for, but an easy way to help is to set up an emergency fund. You can do this by setting up a simple savings account at your bank. This way it will be ready whenever you need it.
A good rule of thumb when choosing an amount for your emergency fund is taking your monthly expenses and multiplying that by three. This should provide you with peace of mind that you’ll be covered in a worst case scenario.
Review Your Health Insurance Options
Do you have the best health insurance available to you? Most people are offered health insurance through their jobs and they enroll without exploring all of their options. It’s a mistake not to research other insurance options because you could be saving money. Please call me at 574-306-2028 to see if you are getting the best rates and coverage with your current health insurance provider.
Do You Have The Best Health Insurance?
Please reach out to me and let me know how much your health insurance is covering. Chances are, you’re not receiving the best coverage for what you’re paying. I’d love to help you get all you can from your health insurance. Get your free quote today or call me at 574-306-2028.