How to Deal With the Financial Cost of Hemophilia
Dealing with a bleeding disorder can weigh heavy on your wallet. To help you manage the financial cost, we’re sharing a few tips we’ve learned from the Hemophilia Federation of America.
Consider your costs
Bleeding disorders are among the most expensive conditions to manage, with some patients spending up to $1 million a year. Even with good health insurance, the financial impact of hemophilia is no joke. It’s essential that both patients and caregivers have health insurance.
No matter how good your insurance is, if you’re not financially responsible, then your health insurance won’t do you any good. Insurance adjusters aren’t there to be your friends no matter how friendly and approachable they may seem. It’s up to you to keep an eye on your health insurance policies and modifications. Policies usually change once per year so make sure you’re aware of any changes and make sure you and your caregiver stay up to date about your financial responsibility as a patient.
The Patient Protection and Affordable Care Act (ACA) (a.k.a. Obamacare) is fortunately still in place. It made the lives of innumerous people with expensive diseases much easier by regulating some parts of health insurance. There’s now no lifetime cap on insurance policies and no one can be denied insurance based on pre-existing conditions.
There are several health insurance options you can choose from:
- Group health insurance: This type of insurance is provided by companies and covers all the employee’s healthcare needs (and sometimes, their dependents). You should sign up for whatever insurance plan is available as soon as you can. Do your research and find out what’s covered under it.
- Individually purchased health insurance: Around 9 percent of U.S. citizens are covered by this type of insurance. While it doesn’t offer as many benefits as group health insurance, it’s a more helpful alternative ever since the ACA made quite a few positive changes to it.
- High-risk pool: If you’ve been uninsured for longer than six months with a pre-existing condition, you can apply for a high-risk pool. It will be pretty expensive and you may have to jump through a few hoops to qualify but it’s still better than no health insurance.
- Medicaid: It’s primarily used by people with lower incomes or disabilities. While there have been a few scares, Medicaid is still in effect.
Hemophilia News Today is strictly a news and information website about the disease. It does not provide medical advice, diagnosis or treatment. This content is not intended to be a substitute for professional medical advice, diagnosis, or treatment. Always seek the advice of your physician or another qualified health provider with any questions you may have regarding a medical condition. Never disregard professional medical advice or delay in seeking it because of something you have read on this website.