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Planning Ahead for Health Care

Expenses is a Healthy Decision
A message from GreenPath Financial Wellness

Health care is something that most Americans overlook when budgeting. Medical
debt can get out of control if you don’t have health insurance or you don’t plan ahead
for unexpected health care expenses.
But how do you plan ahead for health care expenses?
Here are a few tips that can help you start the planning process:

1. Research health insurance plans and medical costs. To plan ahead for your
health care expenses, you will need to understand what type of health insurance
plan you have and the medical costs that you may incur in the upcoming year.

a. Determine how much to save based on your
deductible, co-payments/co-insurance and/or
out-of-pocket maximums. You can contact
your health insurance provider to find out the
amount of your deductible.

b. Estimate how much to save based on any
medical bills you received in the previous year.

c. Calculate how much to save based on any
prescriptions you had to pay for in the previous year.

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