Quote:
Originally Posted by nursee81
Ok I understand your mother raised 3 kids on 18,000 a yr but we live in different times now. My cousin in law has cancer and his insurance is has max out with all of his treatment's. He did have a well paying job that he had to quit from b/c of his illness and his wife also has a well paying job. Now they are stuck paying out of pocket for all of his medical treat. Does anyone know how much a one day hospital stay cost????
Let me tell you, when I had my daughter and got my explaniation of benefits the bill was around $20,000. I stayed at the hospital for less than 24 hrs, b/c I wanted to come home. That was not including my co-pay, so you can only imagine how much it would be for someone who can barely make ends means and is really sick.
So some kind of budgeting for the average middle class family for thousands of dollars is not possible.
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First, let me state, that I realize these are different times. However, $18,000 in 1985 is about the equivalent to $30,000 a year now. I would consider that difficult for most single mothers trying to raise 3 kids.
And, actually, I do know how much it costs for hospital stays, surgeries, etc. My father died of brain cancer (grade 4 glioblastoma) and was unemployed when he was diagnosed. So, no I am not immune to the cost of hospital bills and treatments. My family incurred those costs and paid them out of pocket, so yes, I am very well aware of how expensive hospital treatment is.
I used to work in a hospital as well and I am aware that there are plenty of programs available to allow for treatment when someone is without money. I used to dole out money from these programs to indigent patients. All somebody needs to do is apply, show proof of no income (not a difficult task if you have no income) or proof that the funds do not exist in your bank account, and they will waive the fees. I have done so for many patients.
Also, your EOB is always up priced because the hospital, surgeon, doctors and pharmacists will only be re-imbursed about 10% of their total fee. So, yes, it may state that the cost of your hospital stay was $20,000, but you can guarantee your insurance only paid the reasonable and allowable amount, which probably came to about $5000 at most.
If you come in as a cash paying patient, you will not be charged the same invoice your insurance company receives. I know this since I used to work as an adjuster for a health insurance company as well.
And yes, budgeting for thousands of dollars for a possible emergency for the middle class family is possible. I do it. Why can't anyone else? I just pick and choose what I decided is important.
For instance, my car is cheap, paid off and I rent and apartment. I don't have any expensive clothing nor do I own any major jewelry with the exception of my wedding ring. I get my hair done once a year b/c it is ridiculously expensive and my husband and I put 20% of every single dime we make into a savings account for retirement and keep another 3 months of our salaries in a savings plans for emergencies. We don't eat out often and we sit down together and budget. It's not a hard thing to do, really. You just have to make a commitment that being self-sufficient and not stressed about money for the rest of your life is your priority. Unfortunately, a priority for a large majority of this world (I'm not referring to those on welfare, etc.-I mean everyone) is to keep up with the Jones's. It's quite sad, actually. My only luxury is MAC/make-up, to which I have a monthly budget as well.
