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PLANNING FOR CHRONIC HEALTH PROBLEMS

January 1, 2010

Q: I have a family member who had chronic bronchitis last Christmas. Can she find affordable health care. She is 56 in the state of Florida.

A: Bronchitis is a serious chronic health problem and is often linked to other even more serious conditions that may develop in the future. At age 56 in this state of health, the quality of her health care should be the top financial priority.  It really does not make sense to focus on "affordable health care" rather than the best available health care for the long term.  Fortunately in Florida it is relatively easy to enroll on health care pools that cover pre-existing medical conditions without significant limitations. These insurance plans are expensive but when you exhaust your personal assets the cost of medical care is paid by the state.

MedSave.com focuses on limited benefit low cost health insurance like short term medical, Core Health and Basic Health Insurance that end to offer strong value in terms of affordability but this is not the biggest concern or the best approach for everyone. For those whose top financial priority is maintaining access to medical care, it may be necessary to reverse thinking and consider the best way to access care after health insurance becomes unaffordable. This area of financial planning was formerly known as "Medicaid planning". The shocking reality is that about one in four of us will be financially bankrupted by our future medical costs.


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