Saturday, December 8, 2018

Being Seriously Ill Can Bankrupt You




In the last month I’ve been working with a family that has been brought to their knees by medical bills. One would think that a combination of Medicare and supplemental insurance would take care of most needs, but it’s become crystal clear that even those who have put aside what they believe is plenty of money for retirement can quickly find themselves in a dire straights.

And it’s not just those who are retired. Anyone with a serious condition can find themselves in financial trouble in no time due to lost wages, high out of pocket costs for both health insurance as well as for services not covered by the insurance they may be paying top dollar for.

The number of people and agencies I’ve interacted with lately, where they just don’t understand, is astonishing to me. It’s quite simple unless you qualify for a combination of Medicare and Medicaid, medicine, eye care, dental, medical supplies, personal care etc., can deplete savings and then some. Of course if you qualify for Medicaid you most likely have other sets of issues from housing to mobility.

It’s time we start having frank discussions at all levels about the real costs of being seriously and/or chronically ill and why just looking at income is inadequate to evaluate need.

Instead of my trying to map this out, I’m encouraging people to watch. Being Seriously Ill in the U.S.: Financial and Healthcare Impacts, from the Forum at the Harvard T.H. Chan School of Public Health that took place in November.

Let’s start the solution conversation.

No comments:

Post a Comment