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With all of the economic difficulty that many families face today, saving for medical expenses can become quite difficult. Since I turned forty, I have had to take better care of myself, and that includes routine physical exams. Doctor bills can add up, and even with insurance, out-of-pocket expenses can still climb. Then when potential emergencies arise, it can get even more difficult to pay for care. Fortunately, I maintain a health savings account (HSA), and this account has helped me cover over $1000 of medical costs in recent months.
How I fund and the HSA
My employer offers choices of insurance plans, one of them is the HSA. I have much of the premium deducted from my paycheck to pay for the plan, and my employer covers the rest. In addition, I have extra money deducted and automatically deposited into the HSA. I consider my health care my own responsibility, so I have no problem making that bi-weekly transaction. During the three years in which I have had the account, I have saved just over $3000. I have used some of it for my weekly physical therapy and saved the rest for medical treatments. I do my best to ensure that I keep a minimum of $1500, enough to cover my annual deductible in case of medical emergency.
Found a lump in my breast
The emergency looked like it had begun happening in November of 2011. One night in church, I felt a sharp pain inside my right breast that would not go away. After a few days, I went to my doctor to have it checked. He diagnosed an infection, and the lump had caused a large swelling. I took a normal ten-day round of antibiotics, but the lump remained. I returned for follow-ups but still had not solved the problem. Because I had not met my deductible for 2011, I was responsible for full price for each visit; the total topped $300.
Three rounds of antibiotics
In addition to the office visits, I had to pay for three rounds of antibiotics. The pills the first two times cost only seven dollars each, but the third time my doctor gave me a shot in the hip. This one cost close to $100 more. I still had not met my deductible, so I had to pay the cost myself.
Ultrasound, mammograms, and biopsy
After one month of antibiotics, the swelling had subsided but the lump remained. My doctor then ordered more serious testing. He explained that men can get breast cancer, and he wanted to rule that out. I had to visit two separate diagnostic centers for ultrasounds, mammograms, and a biopsy. Naturally, I worried more about the diagnosis than I did the cost, but I still wondered how much I would have to pay out of pocket.
New year's deductible
By the time I could have the tests performed, the new calendar year had started, which means my deductible started over. That meant that I still have to cover all costs up to $1500. I did not worry, though, because I have the money saved for these exact purposes. The diagnosis came back as no cancerous tumor - just a bad infection that needs further treatment. I felt so much relief that I did not care about the cost until the bills came.
When the bills arrived, I found that my insurance had paid its part to each medical facility, and I had to cover the rest. I owed $1025 total. Seeing this total frightened me at first, but I had more than enough in my HSA to cover it. I sent in the payments, giving thanks that I had it covered.
Still need treatment
I praise the Lord that the lump is not cancerous, but it is still inside my breast. I will need further examination and treatment. Financially, I still have a good balance in my HSA, and it will grow again with continued contributions. I know that I can cover the costs, and I will soon reach my deductible. Then, I will have no out-of-pocket medical costs for the remainder of 2012, and the account can grow even more. I understand that my health care is my own duty, and I take that responsibility very seriously. If I had not saved that money, I would have panicked when the bills came due. Because of the discipline to save, that panic will not happen.
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