On Health Care Coverage

I’ve been off the SMW airwaves for the past two weeks. I was out of town to be with sister as she had surgery and to help her get settled at home once she was released from the hospital. As life would have it, my sister wasn’t the only one being operated on the week of May 12. She and my best friend had surgery within two days of one another. Thankfully both operations were a success and both patients are doing well, though both will be slow to recover.

I’m grateful for the good news, but it sure gets you thinking about that old adage, “If you have your health, you have everything.” It also gets you thinking about practical matters like health and disability insurance.

My sister got hurt on the job and has great benefits through work so there are no financial issues. Although my friend’s health issue is not work-related she too has excellent medical and disability coverage through her employer. As a result, both patients can focus on recovery without any significant monetary concerns.

Many people aren’t so fortunate. At one end of the spectrum are those with no health insurance. Yet, even people with health care coverage may not have disability insurance. And then there are those who don’t know what kind of benefits they actually have.

One of the most eye-opening stories about benefits was one a recruitment industry executive shared with me. A person changed jobs in order to obtain a particular benefit, only to learn after the fact that the benefit had been available at his previous employer.

Do you know what kind of medical and disability coverage you have through your employer? Do you know what type of supplemental coverage is available? Often, additional disability coverage can be purchased for a minimal amount, sometimes less than a dollar a day.

If you’re self-employed, it’s arguably even more important to review your benefits coverage and, if financially possible, make appropriate adjustments.

It doesn’t matter how healthy you are, or think you are. My sister and my friend were fit, athletic women (and hopefully they will be again). The point is accidents and diseases don’t only affect the elderly and the sickly.

The impact a serious accident or illness has on your body may be unavoidable. But, with proper planning, it is possible to reduce the impact it will have on your finances.

Paula Santonocito

Career Editor, SingleMindedWomen.com

Click Here for a recent SMW article on Single Women and Healthcare Coverage.