Guest article written by Ana-Marie Sanders. www.loanstart.com
Being a parent is a huge responsibility. A child has a lot of needs, after all. Love, education, health, and more. Of all the needs, though, we can all probably agree that one of the most stressful is the finances and care required when the child gets sick. It is emotionally draining, to say the least.
But allow us to share that burden, even for just a bit. In this article. We are sharing some helpful information about handling unplanned health expenses, different health risks (especially those that are not covered by insurance), and more. We certainly have a lot of topics to cover, so let’s begin.
How to Handle Unplanned Health Expenses
We personally categorize health expenses into two: planned and unplanned. Planned health expenses are preventative steps such as taking health supplements and getting vaccinations. Unplanned expenses, on the other hand, are those caused by sickness or injuries from accidents.
The best way to prepare for both types of medical expenses is still by getting your child insured in a health plan. There are various health plans that you can apply for but the easiest way is to ask your employer if you can add your child to your family plan. Aside from this type of policy, there are also plans being provided by the government, and of course, private insurance companies.
Medical Expenses Not Covered by Insurance
Most medical expenses, in general, can be covered by your child’s insurance policy. Just check the fine print of your coverage terms. However, sometimes there are still certain medical expenses not covered under insurance, like the following:
● Dental and vision expenses
● Sports-related injury
● Psychological or mental health issues
● Alternative treatment and therapies
If you find yourself being required to pay for these out-of-the-pocket then you might want to consider personal loans for medical expenses. There are a lot of options online with flexible payment terms.
Other ways of lessening the burden of medical expenses are finding a medical institution that offers free or low-cost treatments (these are called safety-net hospitals and there’s 170 of them spread throughout the country) and filing for a claim from your tax (the Internal Revenue Service offers up to $4000 per qualifying child).
Mold and Allergies: Common Yet Unnoticeable Health Risks
Another way to lessen medical expenses is by educating yourself about common health risks, especially those that can go unnoticed—like mold! Black mold, in particular, may cause mycotoxicosis (a.k.a. mold poisoning) that may cause migraines, muscle pains, and even memory loss not just in kids but for us adults too. In fact, studies have proven that mold is a common cause of asthma development in children from one to seven years of age.
Is Allergy Covered by Insurance?
Speaking of asthma, do you know what else may cause it? Allergic reaction. Fortunately, most allergy treatments and therapies are usually covered by insurance companies. Don’t take our word for it, though. The best way to make sure of this is by still contacting your insurance provider directly and confirming this with them.
As far as our experience goes, allergy treatment and therapy are covered for the most part, but most of the procedures require a deductible.
Let’s Talk About Child Support
But what about for kids whose parents are separated? Well, their medical expenses can get a bit more complicated. First of all, the parents should have drafted an agreement already defining each of their financial responsibilities— uninsured medical expenses included. This agreement should be approved in Court, taking into consideration each of the parents’ capacity, while making sure that it will be in your child’s best interest.
However, due to various circumstances, the parent who is granted custody of the child is expected to cover the expenses initially, especially during emergency situations. You are required to keep a copy of all your bills and receipts, though, so that you may simply reimburse your expenses from the responsible party at a later date.
To Sum It Up…
Medical expenses can really be tough to handle. Fortunately, there are various health insurance policies that a parent can enroll the child in. Other efficient ways to lessen medical expenses are by investing in preventative options, like immunizations, and educating ourselves on the various health risks that our child may face every day so that we may lessen their exposure from them.
As for uninsured medical expenses, there are various steps that you can take in order to lower the cost and seek financial assistance.
Lastly, for families with child support issues, an agreement must already be prearranged in Court to determine the party responsible for handling the child’s medical expenses. Nobody wants a child to get sick, but it’s still smart to prepare for unforeseen circumstances beforehand. We wish your family good health. See you in the next article!