Unexpected Health Costs Add To Challenge Of Recovering From Medical Care
The Associated Press reports that nearly a third of insured Americans who have financial problems tied to medical bills faced charges that their insurance would not cover. In other news, The Wall Street Journal reports on a counter-intuitive finding that, in retirement, the healthier a person is, they more they will spend on health care.
The Associated Press:
Surprise Insurance Fees Often Follow Medical Emergencies
Recovering from a medical procedure is always a challenge, but getting hit with unexpected insurance fees can add financial hardship to the process. As health insurance plans become increasingly complicated, more patients are facing unexpected fees when they step outside their plan's coverage network. In many cases, patients don't realize they've received out-of-network care until they're slapped with a bill for hundreds or thousands of dollars. (2/10)
The Wall Street Journal:
Healthy? You’ll Spend More On Health Care In Retirement
The healthier you are, the more money you need to save for health care in retirement. That’s the counterintuitive finding of new research by the Empower Institute, which is sponsored by Empower Retirement, a division of Great-West Financial that administers $440 billion in retirement plans. “Excellent health, ironically, can actually raise an individual’s lifetime health spending” simply because healthier people can generally expect to live longer, says the report, released Wednesday. (Tergesen, 2/10)