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Moderator

Tips needed: How do you manage finances during a big medical event?

Posted by Colleen Young, Connect Director @colleenyoung, Apr 10, 2019

I'd like to gather your advice on managing health-related expenses. Here are some questions to get the conversation started. Feel free to tell me things that I don't know to ask, too.
- Do you know what your insurance covers, like finding out what treatments should be pre-approved, what’s in-network, etc.?
- Did you get help from a hospital social worker or financial coordinator? How did they help?
- What are some of the non-medical but related costs to consider like travel, time off work, childcare?
- How do you organize your bills and paper-work to keep it all straight?
- What organizations are available to apply for financial assistance to pay for treatment, travel and more?

What is the one thing you wish you had known? What advice do you offer others?

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Your tips in action:
Tips shared in the discussion below made this video. It's great advice: For patients by patients.

Interested in more discussions like this? Go to the Just Want to Talk Support Group.

Mentor
Laurie, Volunteer Mentor | @roch | Apr 18, 2019

This great topic, if dealing with major or multiple medical issues, taking care of billing and insurance can be very stressful and time consuming at same time you have anxiety from medical conditions. I had three separate medical issues in 2018, and still trying to resolve some of the charges and insurance claims.

I have private insurance (Blue Cross) and not covered by Medicare.

Here are few things I do to help with billing and insurance:

Pre certification. If in doubt, call insurance company about what needs pre certification. My insurance company (Blue Cross) uses another company for pre certification (AIM) so sometimes it takes multiple calls. If something needs pre approval, call your clinic and make sure they know it requires pre approval. Never assume that the clinic knows what insurance company requires. At Mayo they have separate department that can help you with pre certification. Here is web site with Mayo contact info: https://connect.mayoclinic.org/discussion/tips-needed-how-do-you-manage-finances-during-a-big-medical-event/

In order to keep track of bills and insurance claims I use a spread sheet. For every medical charge, I enter the information into spread sheet. Example of information I enter: date, type visit, and amount clinic charged. When I receive the insurance EOB, I then enter the amount insurance paid.

This can be time consuming, but it makes it easier to determine if insurance has not processed a charge.
I also have separate tabs in spreadsheet to keep track of prescriptions, travel expense, parking, etc…

At tax time, this spreadsheet has all the information I need to determine medical costs for a year.

This process may not work for everyone, but I have been doing for years, and it works for me.

Laurie M.

REPLY
Moderator
Colleen Young, Connect Director | @colleenyoung | Mar 10, 2020

Hi all, Here's the video that YOU made. Thank you for all the tips you contributed to make this video. It is published on YouTube and was published on Mayo Clinic's app and through social media. I hope you'll share it with your networks. It's great advice: For patients by patients.

Thank you!

REPLY
2 replies
JK | @contentandwell | Mar 12, 2020
In reply to @colleenyoung "Hi all, Here's the video that YOU made. Thank you for all the tips you contributed..." + (show)
@colleenyoung

Hi all, Here's the video that YOU made. Thank you for all the tips you contributed to make this video. It is published on YouTube and was published on Mayo Clinic's app and through social media. I hope you'll share it with your networks. It's great advice: For patients by patients.

Thank you!

Jump to this post

@colleenyoung Nice little video. It's brief enough to say what can be helpful without going into too much detail and causing people to turn it off.
Jane

REPLY
beckyy39 | @beckyy39 | Mar 20, 2020
In reply to @gingerw "@colleenyoung This is a great topic! We don't often think about all the organization that's required..." + (show)
@gingerw

@colleenyoung This is a great topic! We don't often think about all the organization that's required when something serious happens. Because I see two specialists and they are 100 miles away from where I live [one way] I keep copies of all of my lab results done, no matter who orders them. I can provide those copies to any medical professional who may need them. I take a notebook to every appointment and write all of my vitals down. I have pre-populated that page with any questions that I have thought about ahead of time for any visit that I make to a medical professional. Organizing finances during a medical event is crucial. Having someone that you can enlist to help you is a great thing because you might miss something or you need a second set of eyes to look at things. If you have a spouse or partner, that works fine. If you have a child you can trust, that works fine. Or reach out to a good friend and ask for their assistance. Whoever does it has to be somebody that you can trust. Educate yourself on what your insurance will cover. Don't be afraid to contact them if you have any questions ahead of time. They are there to assist you; you pay your premiums and they work for you! Education is power so don't feel bad about questioning things.
Ginger

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I'm finishing up my transplant evaluation at Mayo Clinic in Florida next week, and having seen so many doctors and being given so much information, I will be making a notebook by specialty when I get home. I feel far more in control of my situation when I can be organized and I will be doing this. Fortunately, as soon as I received my liver failure diagnosis with a hospitalization for HE, I applied for Medicaid and Disability, and thankfully I was approved for both. My employer up to that time offered to continue paying in full for me to keep my BCBS, but I knew I couldn't afford the large copays for services so chose not to keep it and to get Medicaid instead. I'm having to rearrange my finances to survive on approximately 1/3 of what I made before and that is so devastating but throughout this process I've seen God at work and he has given me a peace about it so I'm not worried about the outcome.

REPLY
2 replies
JK | @contentandwell | Mar 20, 2020
In reply to @beckyy39 "I'm finishing up my transplant evaluation at Mayo Clinic in Florida next week, and having seen..." + (show)
@beckyy39

I'm finishing up my transplant evaluation at Mayo Clinic in Florida next week, and having seen so many doctors and being given so much information, I will be making a notebook by specialty when I get home. I feel far more in control of my situation when I can be organized and I will be doing this. Fortunately, as soon as I received my liver failure diagnosis with a hospitalization for HE, I applied for Medicaid and Disability, and thankfully I was approved for both. My employer up to that time offered to continue paying in full for me to keep my BCBS, but I knew I couldn't afford the large copays for services so chose not to keep it and to get Medicaid instead. I'm having to rearrange my finances to survive on approximately 1/3 of what I made before and that is so devastating but throughout this process I've seen God at work and he has given me a peace about it so I'm not worried about the outcome.

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@beckyy39 you have a wonderful attitude. That will see you through almost anything.
JK

REPLY
Ellen | @helenfrances | Mar 21, 2020
In reply to @beckyy39 "I'm finishing up my transplant evaluation at Mayo Clinic in Florida next week, and having seen..." + (show)
@beckyy39

I'm finishing up my transplant evaluation at Mayo Clinic in Florida next week, and having seen so many doctors and being given so much information, I will be making a notebook by specialty when I get home. I feel far more in control of my situation when I can be organized and I will be doing this. Fortunately, as soon as I received my liver failure diagnosis with a hospitalization for HE, I applied for Medicaid and Disability, and thankfully I was approved for both. My employer up to that time offered to continue paying in full for me to keep my BCBS, but I knew I couldn't afford the large copays for services so chose not to keep it and to get Medicaid instead. I'm having to rearrange my finances to survive on approximately 1/3 of what I made before and that is so devastating but throughout this process I've seen God at work and he has given me a peace about it so I'm not worried about the outcome.

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You are a great role model: organized and matter of fact. May we all be so brave. Prayers for your good health .. and example.

REPLY
beckyy39 | @beckyy39 | Mar 21, 2020

Thank you Ellen and prayers for your optimal health!

REPLY
Mentor
Teresa, Volunteer Mentor | @hopeful33250 | Mar 21, 2020
In reply to @colleenyoung "Hi all, Here's the video that YOU made. Thank you for all the tips you contributed..." + (show)
@colleenyoung

Hi all, Here's the video that YOU made. Thank you for all the tips you contributed to make this video. It is published on YouTube and was published on Mayo Clinic's app and through social media. I hope you'll share it with your networks. It's great advice: For patients by patients.

Thank you!

Jump to this post

Thanks, Colleen, I'm also going to share this on my personal FB page

REPLY
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