Health

5 Steps to Financially Prepare for a Surgery

March 30, 2021 By Vicky Monroe Leave a Comment

Going under the knife is stressful enough without adding financial worries on top of it. To make sure you can focus on your health, it’s important to financially prepare for a surgery in advance. Here are some tips to help you estimate the cost of your operation so you don’t get any surprise bills after you get home from the hospital.

Talk to Your Doctor

To properly financially prepare for a surgery, you need to know how much it’s going to cost. Talk to your doctor and see if they can give you an estimate.

If not, ask them what the surgery will entail so you can relay that information to your insurance provider. Find out what kind of prescriptions, medical equipment, or physical therapy you might need after the surgery so you can figure out how much they’ll cost too.

Make sure you verify that the hospital, surgeon, and anesthesiologist are in-network. If they’re not, it could substantially increase the cost of your procedure.

Call Your Insurance Provider

It’s also important to call your insurance provider well in advance of your surgery. They may need to pre-authorize your operation, especially if it’s an expensive one. They’ll also be able to give you some insight into what parts of your procedure are covered and how much you’ll have to pay out of pocket.

Figure Out How to Pay Your Medical Bills

In order to pay your medical bills, you may have to cut out unnecessary expenses like eating out and dip into your emergency fund.

But even after trimming your budget and draining your savings, you may not be able to afford your bills on your own. If you don’t think you’ll be able to cover the cost of your surgery, there are charities and financing options that can help.

Organizations like the Healthwell Foundation and Patient Access Network help people with certain conditions cover their medical expenses. You might also consider starting a GoFundMe to raise money for your surgical costs.

Many hospitals will put you on a payment plan if you tell them you can’t afford your bills. As a last resort, you can take out a personal loan to finance your operation.

Financially Prepare for Recovery

To fully financially prepare for a surgery, you need to consider your recovery too. Some procedures only require you to take a few days off of work, while others have much longer recovery periods.

Ask your doctor how long it will take for you to heal and when you’ll be able to return to work. If you have a desk job, your employer may allow you to work remotely so you don’t have a big lapse in income.

But if you have a fairly physical job, you may not be able to do it while you’re recovering. So you’ll need to figure out how to cover your living expenses during that time.

You may be able to use your paid time off or get on short-term disability to pay your bills. If you have to live off of your savings, you can tell your utility company and creditors about your situation. They may be willing to reduce or suspend your payments during your recovery.

Create a Will

Although it’s unpleasant to think about, every surgery has risks. If something happens to you during the operation and you don’t have a will, your assets may not be distributed the way you would’ve wanted.

That’s why it’s a good idea to create a will before your operation if you don’t already have one. Online services like LegalZoom can help you make one quickly and cheaply.

Having surgery can cause a great deal of physical, emotional, and financial strain. But hopefully these tips will help alleviate your financial worries so you can focus on healing.

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Why Self Care Should Be Included in Budget

March 12, 2021 By Kathryn Vercillo Leave a Comment

Self care. It’s such a loaded phrase. You know that you’re supposed to embrace it and yet maybe you’re not even quite sure what it means for you. And yet, taking care of yourself is really important. In fact, you should have a self care budget. Let’s explore what self care really means and why it matters.

“Self-Care Sunday” and the Problematic Buzz Around Self Care

Self care has taken off as a buzzword, so much so that it’s become something of a joke. Check social media and you’ll find thousands upon thousands of entries featuring hashtags like #selfcaresunday. The idea behind it is great: take time to take care of yourself. But the message has gotten lost. How did this happen?

The Marketing of Self Care

One problem has been that brands and businesses picked up on the concept of self care and began to market around it. So now there are all of these people trying to sell you products and services to help you better take care of yourself.

But spending a bunch of money doesn’t necessarily lead to self care. Sure, if you’re investing in your physical and mental wellbeing, then various products and services might add to your life. However, if you’re just lured in by the promise of abstractly feeling better, then you’re likely to end up disappointed. And this is how the concept of caring for yourself has practically turned into a joke when really it should be a critical priority.

The Pressure of Self Care

The other major problem with the marketing of self care is that it now comes loaded with a bunch of pressure, especially for busy women. Self care should be about how to truly take care of yourself, whatever that means. But all too often lately it ends up being just another thing on the To Do list. It’s another thing that people, especially women, beat themselves up about not doing, not doing well enough or not doing often enough. And that feeling is the exact opposite of self care.

So What Is Self Care?

So what exactly does it mean to take care of yourself? It’s probably not what you think. Sure, it can mean spa days if that’s your thing. But more than that it’s about taking the time to know yourself and then doing what you really need, regardless of how un-trendy that thing might be.

More than anything, self care means taking quiet time to really get in touch with yourself. It means that you turn off the devices, settle in, and listen to what your mind and body really need. The better you learn to hear your inner voice, the more you’ll know what you actually need in any given moment.

Self-care might include:

Taking time off of work – an afternoon, a long weekend, a vacation, a sabbatical
Reducing other obligations and expectations including those among family and friends
Starting a new project that you feel passionate about
Staying up late when you’re having a great time but then taking a nap the following day
Eating in a way that makes your body feel good
Making an appointment with a doctor, a therapist, a physical trainer or an acupuncturist
Being honest with your partner about your authentic feelings
Ignoring phone calls and listening to your favorite music for an hour
Signing up for classes to pursue an interest or new career path
Asking your friends to lunch when you need their support

Why You Need a Self Care Budget

So if self care isn’t about spending a lot of money on spas and trips to island getaways, then why do you need a self care budget? Sometimes self care does cost money. More than that, knowing that you have enough money to take care of whatever your needs may be allows you peace of mind.

Sometimes Self Care Costs Money

Even if you don’t spend a lot of money specifically on “treat yourself” items, self care can cost you some money in the following ways:

You might need time off of work. It’s important to have some money saved up in order to take the time that you need. If you have a self care budget then you can take any amount that’s left over within that budget each month and put it into a self care savings plan.
Certain things that are good for you do cost money. For example, in order to feel your best, you might need to eat higher quality food. Or you might want to pay for a gym membership, higher education, or, yes, a massage. If you have a self care budget, then you have accounted for those potential costs.
You can plan for impulse purchases. The fact is that sometimes you’ll set your self care aside. Then you’ll crash. Often this results in impulse spending. But if you’ve got a self care budget, then you’ve built in a cushion precisely for these times.

Knowing You Have Money for Self Care Helps Your Mental Health

Part of taking care of yourself is just giving yourself a little bit of ease. Knowing that you’ve set aside money each month for self care can go a long way towards allowing that ease in your life. Maybe you’ll spend the money. That’s great – that’s what you’ve set it aside for. But even if you don’t use it all, it helps to know that you could if you needed to. It relieves a burden. And that in and of itself is a form of self care.

How Much Money to Budget for Self Care

There are two ways to approach your self care budget.

The first is to look at what wiggle room you already have in your budget. Then use that to set a self care budget. For example, if you currently have $100 per month that is part of your “miscellaneous” budget then you might earmark all or part of that specifically for self care.

The second is to work with percentages. Try to aim for 5% of your budget to go to self care. If that doesn’t work for your finances, then what will? Be honest with yourself while still making this a priority. If you need to cut out expenses that aren’t helping your self care (streaming services for example) in order to make room for beneficial things, then do that.

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Can Your Acne Be a Sign Of Underlying Health Condition

January 9, 2021 By Susan Paige Leave a Comment

Editors note: Savingadvice.com generally covers personal finance related topics. However, due to reader demand, we are writing on this topic here.

Acne is a pimple outbreak on your skin that is caused by oil glands plugging hair follicle openings. When the openings are large, blackheads in small, flat spots with dark centers appear. If the openings are small, tiny whiteheads form in a flesh-colored bumps state.

Acne may be a sign of different underlying health conditions. If you’re having a problem with this, it’s essential to consult a doctor as you treat acne. A doctor may pinpoint its root cause and provide the proper intervention. This is especially important as optimum health is generally beneficial for your wallet.

Let’s take a look at some of the possible health conditions that may be indicated by acne.

Hormonal Imbalance

Hormonal imbalances occur when the body produces excess or insufficient testosterone or estrogen. The increase or decrease in hormone production prompts the body to produce more oil than it does when a person’s hormones are balanced. The result of excess oil is the possible clogging of pores, which result in blackheads or whiteheads.

It’s essential to try medication that clears the skin while attending to hormonal imbalance treatment if diagnosed. You can save on acne meds if you research platforms that supply products that may help with the skin condition. You may need to pay for treatment regarding the root cause of the problem, meaning you need to be financially savvy.

For more on saving

Bacterial Infection

Bacterial infection may be the reason why one experiences acne. In this instance, bacteria were grown in clogged follicles. The clogged state means that the follicle wall can break down due to the build-up pressure. The result of this is inflammation and pain from the acne breakout. If a bacterial infection is the cause of acne, you will need to get antibiotic treatment. Taking the antibiotic together with an acne medication may be the solution to clearing your skin.

Stress

Chronic stress is a health condition that can cause acne. The body contains cells that are receptors for the stress hormone. Constant pressure makes the oil mix with dead skin cells and the bacteria to clog hair follicles. While acne is treated by various recommended medications, chronic stress needs to be attended to. Some ways of handling stress are seeking professional mental services, taking a break, journaling, and breathing work, among others.

Polycystic Ovarian Syndrome

The polycystic ovary syndrome (PCOS) is characterized by the excessive growth of the ovarian cyst, which can become quite large and painful over time. PCOS has many underlying risk factors: infertility, hormonal imbalance, insulin resistance, obesity or being overweight, diabetes, and family history.

The symptoms of PCOS include excessive hair growth on the face and scalp, irregular menstrual periods, tenderness of the breasts, irregular heartbeat, high cholesterol, diabetes, and acne.

A thorough physical exam and pelvic examination are required to assess the severity of the condition. Blood tests are also necessary to measure serum hormone levels and liver enzymes. A thorough abdominal examination will also help in determining the diagnosis. As these processes are done, you can consult your doctor on whether you can use acne medication to help with clearing your skin as you treat the root cause.

Conclusion

Acne can be a sign of underlying health problems, which is why you should consult your doctor for the most appropriate treatment. Some of the health problems that can be flagged by acne include hormonal imbalance, bacterial infection, stress, and polycystic ovary syndrome. Refrain from experimenting with skincare products or random meds to get over acne—it’s best to research and check with your dermatologist.

For more great savingadvice articles, read these:

Healthy Grocery Shopping Tips To Keep Your Wallet Lean

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Why I Splurged on a Peloton

January 7, 2021 By Rachel Slifka Leave a Comment

I recently bought a Peloton bike. If you don’t know what a Peloton is, it’s essentially a spin bike with a monitor hooked up. You can stream a ton of classes in the Peloton app, or you can even take live classes with one of their many instructors.

The thing is, Peloton’s aren’t cheap. The bike, along with a few minor accessories, like shoes, cost upwards of $2000. Definitely a splurge! Here is why I took the plunge, and if I think it’s worth it.

At-Home Fitness During Quarantine

During the COVID-19 pandemic, it’s been a struggle to get into a regular workout routine. For awhile, my local fitness studio was open, but classes had to be held outdoors. This was fun during the summer, but not easy to do during the cold, rainy Seattle winter! I found myself in need of an indoor workout that I actually liked.

While I had tried dozens of at-home fitness apps, none really stood out to me. Their routines bored me, and I found myself slacking off with the lack of live competition. Plus, doing floor work with pets at home isn’t easy!

That’s what drew me to the Peloton bike initially. I like that it’s a live class experience. While riding, I can actually see how the other riders are doing and give them virtual high-fives. It’s as close to an in-person class as you can get while at home!

It’s Easy

Another thing I absolutely love about my bike – it makes it so easy to workout.

I no longer have to lug out a yoga mat, weights, yoga blocks, and other fitness gear. I simply wake up, put on my workout clothes, fill a water bottle, and go. It’s that easy. No thinking required.

It’s Fun!

Of course, a workout routine should be fun, and the Peloton instructors are just that! Every instructor is super motivating, and they have an amazing selection of music to accompany each class. They frequently even do themed classes, such as a 90’s theme.

The Cost Factor

Yes, the Peloton bike is expensive. In addition to the cost of the actual bike, you have to pay a monthly subscription to the Peloton app, which is $39 per month.

So no, the bike is in no way cheap. But for me, fitness is a priority in my life and I’m okay spending the money on something I use so frequently. And interestingly enough, I actually save money by using the Peloton versus paying for an unlimited membership at the fancy fitness studio I used to use.

And strangely enough, the most expensive a workout routine is per month, the more I use it. For me, it’s easy to justify not using an app that only costs $20 per month. The high cost motivates me to actually use it regularly.

Is a Peloton Bike Worth It?

Like any splurge, the Peloton bike is totally worth it if you can afford it and you use it regularly. It also depends on how you like to workout. I know I could save money by going to a local gym or streaming at-home workouts, but they aren’t personally as fun for me. It’s totally up to you and your personal preference! The important thing is to prioritize your health when you can.

Save After Spending

And now that I have splurged on a Peloton bike, it is time for me to go on and save more and also invest more. Here are the savings platforms worth sign-up to.

App	Fess and minimum:	Best for:
Digit	30-day free trial period. $5 per month	Setting aside automatically
Acorns	$1 per month	Spare change investing.
Qapital	$3 membership	Letting you set rules to automate savings.

The Lifetime Benefits of Quitting Smoking for One’s Personal Finance

December 25, 2020 By Susan Paige Leave a Comment

If you’re a smoker, and thinking about quitting, do it. Your pocketbook will thank you.

For decades, research has proven time and again all the negative impacts of smoking. According to the Centers for Disease Control and Prevention, it is the leading cause of preventable death and disease in America. However, there are also many lifetime benefits of quitting smoking for one’s personal finance. Here are just a few ways giving up cigarettes can save you money.

The Daily Savings of Quitting Smoking

The most obvious financial benefit and incentive to quit smoking is how much you will save in the weekly costs. The actual amount depends on how frequently you smoke, but the average smoker goes through about a pack a day. Although the cost of cigarettes is relatively low where I live, the national average is around $7 a pack. When you quit smoking, you will save approximately $49 a week in cigarettes alone. After a year, this adds up to roughly $2,555. In the current economic climate, that money could be better spent on other aspects of personal finance.

There are also other associated costs that contribute to your daily savings once you quit. For example, you will no longer need to invest in lighters which always seem to go missing. Don’t forget to include all the cigarettes you share with fellow smokers. Once you join the ranks of non-smokers these savings go directly back into your wallet.

The Lifetime Benefits and Health Care Costs

There is no doubt that giving up the habit is good for your health. However, health care costs also reflect the lifetime benefits of quitting smoking for one’s personal finance. Studies show that smoking reduces your life expectancy by about 10 years (CDC). Based on this fact, non-smokers pose less risk and receive lower life insurance premiums and health insurance rates. On average, smokers pay 10-15% more than nonsmokers for term life insurance coverage. This totals between $1,000 and $1,500 per year.

When you quit smoking, you also reduce the risk of preventable diseases that require long-term medical attention. Conditions such as asthma, emphysema, and cancer are all costly and painful to treat. The cost for cancer treatments and emergency care in the United States is among the highest in the world. It is sadly common to hear of people losing their savings due to medical bills. Saving hundreds of thousands of dollars is reason enough to quit smoking. The sooner you shake the bad habit, the better.

Not only does smoking cost you, if you are pregnant it can impact the health of your unborn child. Babies born to women who smoke are more likely to have birth defects, low birth weight and a high risk of death due to SIDS (Sudden infant death syndrome (CDC).

Quitting Smoking to Cut Cleaning Costs

Another major lifetime benefit of quitting smoking for one’s personal finance is the amount you save in cleaning costs. If you want to resell your home, there are substantial costs to clean walls, carpets, and fabrics. When there is extension damage, you may end up replacing them entirely. Angie’s List estimates the average cost around $4,100. However, home renovations can range from $2,000 to $20,000 depending on how much needs to be done to deodorize your home and remove staining.

If you smoke at home, you also probably smoke in your car. Once you stop, you no longer need to shell out $100-$150 to detail your vehicle. Also, consider the price of every garment you have to dry-clean because the smell clings to your clothes. Add up all these cleaning costs, and you’ll see some of the additional costs of smoking.

Increased Insurance Costs

The Affordable Care Act contains provisions that allow insurance companies to charge tobacco users up to 40% more than non-users. This is because smokers are more likely than non-smokers to have health problems and therefore constitute a greater risk.

Reduced Asset Values

In addition to increased insurance costs, the value of a smoker’s home and car are often less than those of non-smokers. This is because of the negative cosmetic effects and odor of smoke in smoker’s homes and cars.

If you are a smoker and you are looking to find out how much money smoking will save you, here is a great calculator.

The Cost of Quitting Smoking

Even if people want to quit, some may be dissuaded by the amount of time or the cost of various cessation methods. However, these aids are very affordable and becoming more convenient to use. Whether you choose patches, gum, or nicotine pouches, the long-term savings on healthcare costs far surpass the upfront expense. Check with your provider to see if non-nicotine medications or cessation methods are covered under your plan. Whatever method you choose, quitting smoking is a wise investment for both your health and personal finance.

For more on this, read:

The True Cost Of Smoking On Your Health And Wealth

The Massive Cost Of Smoking And Vaping

The Myth That Quitting Smoking Will Save You Money

Do E-Cigs Save Money Over Cigarettes?

What Is The Cost of Getting a Covid-19 Vaccine?

December 9, 2020 By Tamila McDonald Leave a Comment

Significant progress has been made with the COVID-19 vaccine. In the United Kingdom, the Pfizer coronavirus vaccine was approved for use in early December. The United States may have a decision about vaccine options for emergency use before mid-December. As a result, many people are beginning to wonder what the COVID-19 vaccine will cost. If you are curious about how much a coronavirus vaccine will likely run. Here’s what you need to know.

How Much Different COVID-19 Vaccines May Cost

Moderna’s COVID-19 Vaccine Cost

Moderna, a U.S. biotech firm, has created a COVID-19 vaccine that has a potential effectiveness rate above 94 percent. It relies on messenger RNA (mRNA) technology. This is a process that uses genetic material to create a desired immune response in vaccine recipients. Which gives them protection against the target virus.

Cold temperatures are required to store the Moderna COVID vaccine. While it can remain stable if kept in a freezer that runs from 36 to 46 degrees Fahrenheit – similar to the temperature you’d find in a standard medical or home freezer – for up to 30 days. For longer storage, it needs to be kept at -4 degrees Fahrenheit.

Those who receive the Moderna vaccine would need two doses, spread four weeks apart. Back in August, Moderna stated that it intends to charge between $32 and $37 per dose for certain customers. That means, for two doses, the total cost of using the Moderna COVID-19 vaccine would be $64 to $74.

Modern has stated that large volume purchases could result in a lower charge per dose. However, Moderna hasn’t said how much of a bulk-purchase discount might be available.

Additionally, that is the cost Moderna plans to charge institutions who would buy the vaccines to administer to patients. As a result, individuals may end up paying a different amount to receive the vaccination. Institutions who administer vaccines – including doctor’s offices, pharmacies, and hospitals – may have to charge more to cover their purchasing costs as well as expenses related to actually administering the vaccine, like a physician’s time.

That cost also doesn’t account for patients with medical insurance. Insurers may cover some or all of the cost of getting the vaccine

Pfizer’s COVID-19 Vaccine Cost

Pfizer and BioNTech also have a COVID-19. Its effectiveness rate is testing at above 90 percent. Like the Moderna vaccine, two doses are required, though they only need to be 21 days apart. Additionally, this coronavirus vaccine also uses mRNA technology.

The Pfizer COVID-19 vaccine is harder to store than the Moderna version. It has to be kept at -94 degrees Fahrenheit, including during transit. If kept in a regular refrigeration unit, it lasts just five days.

As for cost, the Pfizer and BioNTech vaccine is significantly cheaper than Moderna’s. The companies are reportedly planning to charge $20 per dose. The two-dose series would, therefore, cost institutions just $40.

However, it isn’t clear what patients would ultimately pay. For those with medical insurance, insurers may cover all or some of the burden. For those without, the out-of-pocket cost could be above the $40 mark.

AstraZeneca COVID-19 Vaccine Cost

The AstraZeneca COVID-19 vaccine, which is being developed in collaboration with the University of Oxford. Isn’t as far along into testing as the Moderna and Pfizer vaccines. However, late-stage trial data is expected to be made available before 2020 draws to a close. Though initial reports are promising.

AstraZeneca’s vaccine also requires two doses. The final version of the vaccine is likely to be able to be stored in a standard refrigeration unit. Additionally, it’s anticipated to be the lowest cost option.

Early deals suggest that the price per dose is somewhere around the $3 or $4 mark. Making a two-round series cost to providers a mere $6 to $8. AstraZeneca has openly stated that it does not intend to make a profit on its COVID-19 vaccine for early orders. So it is possible the cost will rise over time.

As with the other vaccines, the final cost a patient pays will be dependent on whether they have medical insurance or are paying out-of-pocket. However, even if a patient has to shoulder the entire expense, the AstraZeneca vaccine may be the cheapest option.

Johnson & Johnson COVID-19 Vaccine Cost

Differentiating itself from the pack, the Johnson & Johnson COVID-19 vaccine may only require a single dose. It relies on a different technology than mRNA, using the same approach that was used to manufacture the company’s Ebola vaccine.

Johnson & Johnson’s vaccine still needs more testing before its effectiveness can be determined. What is known is that it only requires traditional refrigeration for storage. Additionally, it may cost institutions around $10 per dose.

The cost to patients will depend on whether the patient has insurance. However, even without coverage, a price tag not far above $10 could be possible.

Cost of COVID Vaccine for Medicare Recipients

The Trump Administration’s Centers for Medicare & Medicaid Services (CMS) has already released guidance stating that any COVID vaccine that is authorized by the Food and Drug Administration (FDA) – either with a Biologics License Application (BLA) or through an Emergency Use Authorization (EUA) – will be fully covered under Medicare as a preventative vaccine. This means Medicare recipients will have no out-of-pocket cost.

The guidance also works to ensure that private health insurers will be able to follow suit. By using certain CARES Act provisions, the COVID-19 vaccine would be free to insured individuals, including if they use an in-network or out-of-network provider for the vaccine.

Other steps are also being taken, including efforts to ensure price transparency and some to manage Medicaid program costs. However, at this time, it isn’t fully clear what patients outside of those with Medicare would ultimately pay out-of-pocket.

Do you think the cost of getting a COVID vaccine is reasonable? Do you plan on getting the COVID-19 vaccine once it’s available? Share your thoughts in the comments below.

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