In his first speech to both chambers of congress, Barak Obama mentioned a fact that probably perked up the ears of all Bankruptcy Survivors. In his call for health care reform, the President pointed out that every 30 seconds, another American files for bankruptcy due to sky-high health care bills.
While the President used this fact as a rhetorical device meant to drive home his cry for reform, Bankruptcy Survivors knew one powerful fact: life goes on, even after a bankruptcy. Sure, filing for bankruptcy is difficult. It’s nearly impossible to avoid a span of constant worry just before and during a bankruptcy. But once it’s over, there are ways to rebuild credit, and even rebound. After all, how else would we explain second bankruptcies?
Still, we woudn’t wish bankruptcy on anyone. So, for those who wish to avoid a first or second bankruptcy, here are a few tips to help you save costs on healthcare.
1) Prevent Your Way To Health. I hate to sound like the world’s oldest broken record on this one, but many Americans suffer from preventable health problems. So, take care of yourself. Eat well. Exersize. Don’t smoke. Avoid stress. Do what makes you happy. If every American followed these dictums, we would cut our national health care costs by millions.
2) Choose Generic. Sometimes you can’t avoid getting sick. Airplanes, classrooms, and hospitals are unavoidable institutions for most Americans. Still, when you do get sick you can cut costs by choosing less expensive treatments. One way to cut treatment costs is to buy generic drugs. Seriously, they have the same ingredients in exactly the same portions. Why should a brand matter? Does your body really know the difference?
3) Make a Bargain and Pay in Cash. The costs associated with collecting health bills is astronomical. If you’ve been scanning the classifieds lately, you’ve probably noticed the abundance of positions in health care adminstration. Ok, perhaps not an abundance, but most colleges say health care is one of the fastest growing fields in the American economy. If you pay in cash, the doctor gets more profit, since he doesn’t have to pay for the collection services.
And don’t be afraid to bargain for a lower price, especially if you’re paying in cash. Contrary to popular belief, hospital costs aren’t set in stone. Some thrifty consumers even call their insurance company to ask what they charge doctors, and then ask their doctor for the same price. This sometimes acts to deflate the inflated sticker price of most hospital costs.
If you’ve already been through a bankrutpcy and eager to rebuild your credit, you may consider taking out a car loan. Making regular payments on a vehicle shows creditors you’re resonsible and deserving of a higher credit rating. Bankruptcy Resource Group can help you find a local car dealer who specializes in post-bankruptcy credit. Call Bankruptcy Resource Group today to learn more, or fill out their easy online application.
Top photo by Chris Farrugia.
To wrap up our series on when, how, and why to adjust the amount withheld from your taxes, here’s a list of major life experiences which justify a review of your w4.
