We often don’t think much about our health when all is well. However, when something goes wrong, our lives quickly come grinding to a halt. A health-related emergency can be a rather stressful time if you struggle with funds over and above the medical problem.
How do you deal with these unexpected emergencies? Here are some suggestions.
Take a Loan
If you are a salaried employee, consider payday loans with no credit check in Canada. The beauty about these is that the lenders offering this facility do not look at your credit rating before advancing a loan. This means you can get a loan even with bad credit.
These facilities are often offered to salaried employees because their payslip essentially serves as collateral. Review the conditions and payment terms carefully before you take any loan. This ensures you don’t take a loan you can ill-afford.
Use Your Health Cover
If you are in active employment, your employer might give you company-sponsored health cover. This is a convenient way to cover your medical bills.
At times, health covers will come with specific exclusions. If you are not sure what these are, your HR might be able to tell you what these are and whether your insurer can cover your medical bills fully or partially.
Talk to Your Physician
If you have been seeing the same physician over the years, you might have an advantage. Family doctors, doctors with small practices, and doctors that have treated you for a long time are more flexible with bills than large hospitals.
It’s worth your time to call your physician, explain your situation, and develop a payment plan for later on.
Borrow From Friends and Family
Another option worth considering is borrowing the required cash from your family and friends. This has several advantages.
The first is that because they care about you, they are likely to sympathize with your situation and be flexible on the repayment plan. The other is that this cash is unlikely to have a chargeable interest. Still, ensure to repay the cash as agreed to preserve the relationship.
Dip Into Your Savings
If you have a savings fund or emergency kitty, this is precisely what it’s for. Without good health, you are unable to function or go about life as you should. There is no problem with using these funds for that.
If you have other investments that you can liquidate quickly, consider using them as well. Think stocks and bonds, retirement funds, cryptocurrencies, and so on.
It’s impossible to anticipate most medical problems. Insurance is the first defense against these. Without insurance, the suggestions listed here can come in quite handy in helping you manage a medical emergency.