We recently had a medical and fiscal scare for a good friend of ours. She contracted a random infection spread by ticks and was taken to the hospital by ambulance where she spent the following six nights in the Intensive Care Unit (ICU).
Our friend was in the hospital for almost two full weeks. It is taking time, but she is slowly recovering.
For a few days while she was in the hospital, we thought she did not have medical insurance. As worried as I was about her health, I was almost more worried about her financial situation. In my heart, I knew she would get better. However, between the ambulance ride and so many nights in ICU, it’s likely that her ultimate bill will be close to $500,000, if not more.
The good news is - she does have medical insurance. Although there will be some financial repercussion from her illness, it will be manageable.
The scare got me thinking. She is young and in excellent health, a black belt in Kung Fu. She also owns her own business which means that she has to pay for the full cost of her insurance. I can understand why it would be tempting to save the $200 - $300 a month and skip the medical coverage. Thank goodness that wasn’t the case. If she didn’t have insurance she would either have to work out a long term payback plan with the hospital or file for bankruptcy. This financial burden would have haunted her for years.
The moral of the story is – if you don't have medical insurance, get it. And don't forget to use bug spray!
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