Medical emergencies can be extremely daunting. If you don’t have the emergency cash to pay for medical emergencies, things can become even more complicated.
The healthcare and pharmaceutical industry in the United States has never been so expensive. Ongoing medication can be essential for many Americans to live a quality life, and in some cases even to stay alive.
Starting with Your Health Insurance When You Need Emergency Cash to Pay for Medical Emergencies
If you have health insurance, then the first thing you should do is get into contact with them. Most medical insurance will cover medical costs, with a deductible. But because there can be such differences with healthcare, talk to your provider about your specific situation.
If you are trying to pay for a dependent, as long as they are covered under your health insurance, you should also be able to get help for them.
The issue with health insurance for many Americans is that it is often connected to their employment. And if you are facing a job loss or find yourself in between jobs then you may not have coverage.
However, there may be relief if you have a health savings account. You can use the funds from a health savings account, for almost any kind of medical debt or expenses.
And, even if you are not working at the same place when you were depositing funds into the account, you can still use them. Your health savings accounts act like emergency savings for medical expenses. It can be used anywhere a debit card, or a credit card is accepted.
Loan Options for Emergency Cash to Pay for Depression/Anxiety Medicine
A loan can be a great option when you have an emergency and don’t really have the time to look at other options that may take longer. Here are a few loan options that you can consider to pay for the medication that you need:
- Personal Loans: Personal loans can be fast depending on the lender that you go with. In general, an online lender will be faster. Additionally, with personal loans, the amount and interest will vary. One of the major requirements for a personal loan is going to be having a fair or good credit history.
- Credit Cards: If you have a credit card that you can use, consider it for an emergency. Furthermore, for those applying for a credit card, keep in mind that, just like personal loans, your credit history will be taken into account.
- Borrowing from Friends or Family: Immediate friends and family can be a great resource when you are facing an emergency. Further, borrowing from them could mean no or low cost interest and flexibility with repayment.
- Payday Loans: Payday loans are a type of secured lending that works with the borrower’s income schedule in mind. Generally, these loans are for a few hundred dollars and need to be repaid, usually in about 2 to 4 weeks. One advantage for some may be that credit score or credit history isn’t taken into consideration for approval. Keep in mind, in some cases, you may have to authorize a one time transfer from your primary bank account.
- Title Loans: Title loans use the equity of a vehicle to make funds available for borrowers’ Instead of focusing on credit history, lenders will look at the borrower’s ability to repay the loan and the value of the vehicle. When the loan is taken out, the lender will add a lien on the car’s title, giving them temporary ownership. While repaying your loan, you can keep and drive your vehicle.
Health Insurance for Diabetes Medicine
Your health insurance, depending on your insurance policy, along with general health care, should have some type of coverage for prescription drugs. In some cases, there may be no co-pay with your diabetes medication/prescription meds.
Health insurance can also help pay for diabetes care, or diabetes supplies that can be part of a treatment plan.
Getting Emergency Cash for Personal Injuries When a Third Party is Liable
When someone else is responsible for your injuries, then you can file a personal injury claim for funding. Here are a few scenarios and options for funds when a third party is liable for your personal injuries:
Emergency Cash from The Third Party’s Insurance Company
There are a few scenarios that can make it possible for funds from an insurance company:
- An Auto Accident if you are in a car accident because of someone else, then their auto insurance should be able to cover the cost of any personal injuries as well as damage to your vehicle.
- If you are an Accident Victim in Someone’s Home in some cases, if you are injured in someone’s’ home, their homeowner’s insurance should be able to handle a personal injury case and get you funds to cover any expenses related to that.
- If you Get a Personal Injury in a Small Business or A Larger One if you are an injury victim in a place of business, insurance from them may be able to cover the expenses.
Although insurance claims may not always cover your injury, there is no risk of filing a personal injury claim.
When Should I Start Looking into Emergency Cash for Personal Liability Claims?
If you have less than perfect credit, a secured loan, like a car title loan, may be a better choice for you. Secured loans work with an asset as collateral. In the event of a car title loan, it’s the vehicle. When you have paid back your entire loan amount, you may then get your asset back.
Because of this, having bad credit or no credit history is fine! There is a myriad of secured lending out there, which could mean the extra cash you’ll need to take care of your financial needs.
Low-Cost Health Insurance Options That Could Save You Cash
For those who are struggling to pay for private insurance, there are low-cost insurance options offered through federal and programs, here are the major options:
- Medicare — Medicare provides insurance coverage if you are 65+ or under 65 and have a disability, no matter your income.
- Medicaid — Medicaid provides health insurance for adults who are low income.
- CHIP — CHIP is low-cost insurance for children/childcare-related medical costs, for needy families.
- COBRA — If you lose your health insurance because of a job loss, COBRA can help extend the policy or give you an option through the health insurance marketplace. In this scenario, any dependents are also kept on with the coverage.
How Health Insurance Can Help Pay for High Blood Pressure Medicine
If you have health insurance, definitely let your healthcare provider and pharmacist know. If your high blood pressure medicine is prescribed, then your health insurance should be able to cover all or partial costs. It may be helpful to get into contact with your insurance company yourself, and ask about exactly what kind of coverage you have related to both your prescription drug needs (refills and one time dosage), and with a chronic condition such as high blood pressure.
Every insurance policy works a little differently when working with private insurance and so it will be a good idea to know all the small and large out of pocket costs that you may be looking at.
For those who have Medicaid/Medicare or a CHIP insurance plan then you may qualify for Medicare Part D. A program that helps with prescription costs and copay.
How Can a Title Loan Help Get Emergency Cash for Retirement?
For those unfamiliar with auto title loans, it could be helpful to comprehend the fundamentals of them. Title loans are a type of secured loan that uses a vehicle’s equity to secure the loan amount. After the title loan is removed, the lender holds on to the vehicle title as the borrower repays the loan. After the loan is repaid in full, the title is sent back to the borrow. It’s as straightforward as that!
One of the best things about title loans is they permit you to keep your vehicle as you make monthly payments. This way, you can go on driving the car that you love while getting emergency cash to pay for retirement.
Apply for the Assistance that You Need When Your Emergency Fund Won’t Cut It
When you need to pay for health coverage for yourself or a family member, and your savings account will not cover it, there are several options out there.
Look into your health insurance premiums and coverage policy, or switch to a new provider altogether. For those who are disabled, Medicare may be the right option. While for those who are low income, Medicaid may work. Other options include non-profit organizations or an emergency loan for cash. If a title loan sounds like the right option for you then start with Max Cash Title Loans.