Budgeting for Your Health Care

One of the most difficult things, well, really two of the most difficult things in setting my monthly budget is

  1. Being able to predict the costs of the health expenses of my family for the month/year
  2. Not putting the right priority on including health care in my budget.

Both of these things together have resulted in getting blindsided every year with unexpected medical bills.

Perhaps blindsided isn’t the correct term. I actually kept my eyes closed to the possibility that someone in the family would need to go to the doctor/get sick or injured/have surgery. Then getting that bill after the insurance covered its bit was like having a cold washcloth slap me in the face when I am sound asleep. Not pleasant and it tends to piss me off.

It really pissed me off this year when my family’s medical/dental expenses were just below the allowed deductible and I ended up paying more for my federal income tax. How stupid is that.

All because I did not know how to plan.

After reading today’s post at Quinn’s Commentary, I realized he hit the nail on the head when it comes to planning for health care costs. Folks, it’s more than just paying for health insurance.

Here is that post….

I began managing health benefits in 1961. I have done everything from process claims, design and communicate health benefits, negotiate insurance and TPA contracts to serving on boards of directors of health plans and negotiating physician contracts. I am convinced of one thing with absolute certainty. From the perspective of virtually all Americans health care […]

via Any scheme we contrive will not make health care “affordable.” — QUINNSCOMMENTARY 😇 the facts about lots of stuff

The author links to this post INSURE AGAINST DISASTER, PAY FOR WANTS OUT OF POCKET, SAVE FOR THE END GAME which is another essential read, imho.

After reading these and the linked Forbes article, it is no wonder that unexpected costs of illness or injury leads too many of us to bankruptcy.

To avoid being caught unprepared this year,  I am including fully funding my HSA into my monthly expenses. And eating rice and beans all year.




Author: camcoogan

Cam is a single woman in her late 50's heading into retirement mired in debt. Knowing she isn't alone, Cam Coogan is sharing her questions, successes and failures to give and get help in paying down debt and stoking the retirement coffers to enjoy a care-free retirement. Well, at least Cam can be a great example of what NOT to do.

4 thoughts on “Budgeting for Your Health Care”

  1. A wise decision! I’m gathering that you live in America, and at the risk of making an ignorant uneducated comment, you sure do need to prioritise your health and budget for your health care because American health care is ridiculous. The BrothersJudd Blog article saying that the country is “confusing health insurance with health care” is incredibly true and frustrating. As an Australian with Medicare a solidly enmeshed expectation and entitlement, I sure cannot fathom how scary the cost of health risks are in America 😦

    Liked by 1 person

  2. Although a lot of the health care expenses are covered by the provincial and federal government in Canada, dental and eye care is not, but rather covered through employer health care insurance. This year, I decided to have all 4 of my wisdom teeth removed (at 30), which pretty much wipes out all the monies allocated to dental that the insurance will cover. Needing to wait until next year to get any dental work done (or pay alot our of pocket) really sucks. I feel as though I could have planned better and maybe taken 2 out this year and the other 2 out the following year so I still have insurance amounts available for regular check ups.

    Liked by 1 person

    1. Brush, floss, rinse and repeat. 😀 Dental care is costly and not included in Medicare. It is included in the states’ medical assistance programs but many dentists refuse to take those patients because the reimbursement is so poor. Dental insurance is pretty affordable but really covers only the preventive dental care.


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