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3: Analyze Your Circumstances

Make a Backup Plan

Source: Kaiser Family Foundation

Sports teams have second-string players, teachers have substitutes and you might have an external hard drive for your computer files. But what about a backup plan for paying medical expenses? Regular savings funds will not always cover the cost of a serious illness. Creating a backup plan is essential to securing your financial well-being.

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How Else Can You Cover Health Costs?

Read the sentence below and click on a choice to complete the sentence. Each choice reveals a backup plan for covering health care costs.

If I seek health care services but do not have insurance or if insurance does not fully cover my costs, I can ___________

SAM tips

Can Medical Debt Hurt Your Credit?

The three major credit reporting agencies (Experian, TransUnion, Equifax) have a 180-day waiting period before including medical debt on a credit report. Some credit scoring models do not weigh medical debt as highly as other debt for a credit score.

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