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That time... when you lose half of your retirement for the third time in 20 years!

LisaKinVA

By LisaKinVA,
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LisaKinVA

LisaKinVA

Posted
Posted

I guess it's not really going to be "lost" -- more withdrawn to pay off medical bills and related debt.  We've been struggling with tens of thousands of dollars in medical bills the past three years. Started with one $5,000 bill, then a $15,000 bill, then another $5,000 bill, and recently, LEGOManiac's heart issues (won't go into how much THAT bill is).  We can't make any headway on anything and are drowning -- interest payments alone would be more than DH saves for retirement currently!!

 

It stinks... it really does.  But doing this now will at least allow us to get some tax benefit paying off the medical bills from this year, when taking the tax penalty on the withdrawl.

 

When it's all said and done, at least DH could double his retirement savings again (of course, colleges won't like that...).

 

 

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PrincessMommy

PrincessMommy

Posted
Posted

I'm sorry. 

 

 

At least this time we're using it for something.  The last couple of times, the money was disappeared due to huge market fluctuations.  We were finally back to having what we had saved up by 1999.  

 

This happened to us too.  I'm just thankful that dh was young enough that he was able to keep working all these years.

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nixpix5

nixpix5

Posted
Posted

We’ve made generous use of prompt pay discounts. Have you also tried foundations like United Healthcare Children’s Foundation ? You don’t need to have UHC insurance for that.

http://www.uhccf.org/apply/learn-more-about-medical-grants/application-process/

 

First Hand Foundation:

https://www.firsthandfoundation.org/request-funding/

 

Caring Voice coalition for help with chronic conditions and expenses:

http://www.caringvoice.org

 

Pan Foundation for Copay and deductible relief

https://panfoundation.org/index.php/en/

 

And there are a few more specific ones for supplies and equipment and such, but it sounds like that wouldn’t help here. Anyway, some, like the UHCF backdate their grants 60 days, so you have some flexibility. Might be something to look into if you haven’t already.

 

Ugh. I’m sorry you’re stuck with so many bills, it does stink :(.

UHCF is wonderful. When my daughter needed an expensive FM system for school for her hearing loss (our insurance covers none of it) UHCF not only paid the entire cost but sent her an adorable stuffed bear and book on top of it. Their grant system was so easy.

 

I am so sorry you are going through this :(

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Happy2BaMom

Happy2BaMom

Posted
Posted

Lisa, it is obviously too late to help with previous bills, but if there are any expenses moving forward, have you considered checking into having services performed overseas? Yes, there are horror stories, but there are many places where you can get excellent medical care/services for 1/10 the cost. Even with the cost of travel, you can still come out ahead. Mexico has a # of doctors who were trained in the U.S. A couple of things to check out:

 

You Don't Have to Put Up with Crappy Health Care Options - blog article by long-time travel writer Tim Leffel (who has lived in Mexico for many years and who receives all of his medical care there)

 

Medigo - a site that helps patients find accredited facilities and doctors for a wide range of services. I'm sure there are others as well. 

 

7 Reasons to Consider Traveling for Medical Care - Rather old (9 years), but good article from U.S. News

 

I don't want to hijack this thread - more just trying to help if you have large expenses going forward. Best of luck.

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LisaKinVA

LisaKinVA

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Lisa, it is obviously too late to help with previous bills, but if there are any expenses moving forward, have you considered checking into having services performed overseas? Yes, there are horror stories, but there are many places where you can get excellent medical care/services for 1/10 the cost. Even with the cost of travel, you can still come out ahead. Mexico has a # of doctors who were trained in the U.S. A couple of things to check out:

 

You Don't Have to Put Up with Crappy Health Care Options - blog article by long-time travel writer Tim Leffel (who has lived in Mexico for many years and who receives all of his medical care there)

 

Medigo - a site that helps patients find accredited facilities and doctors for a wide range of services. I'm sure there are others as well. 

 

7 Reasons to Consider Traveling for Medical Care - Rather old (9 years), but good article from U.S. News

 

I don't want to hijack this thread - more just trying to help if you have large expenses going forward. Best of luck.

 

I finished up my teeth overseas (saved about 50% here).  Hopefully, there will be no need going forward.  I know in Portugal, even with socialized medicine, families are still responsible for 15% of the bills.  It all just depends.  I know there are world renowned doctors overseas, and you can get stellar care.  Having doctors you can communicate clearly with (here) is our biggest issue -- especially when it's your child.  I sent an inquiry to the Medigo site.  The procedure is highly specialized -- but is offered in Milan.  

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LisaKinVA

LisaKinVA

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We’ve made generous use of prompt pay discounts. Have you also tried foundations like United Healthcare Children’s Foundation ? You don’t need to have UHC insurance for that.

http://www.uhccf.org/apply/learn-more-about-medical-grants/application-process/

 

First Hand Foundation:

https://www.firsthandfoundation.org/request-funding/

 

Caring Voice coalition for help with chronic conditions and expenses:

http://www.caringvoice.org

 

Pan Foundation for Copay and deductible relief

https://panfoundation.org/index.php/en/

 

And there are a few more specific ones for supplies and equipment and such, but it sounds like that wouldn’t help here. Anyway, some, like the UHCF backdate their grants 60 days, so you have some flexibility. Might be something to look into if you haven’t already.

 

Ugh. I’m sorry you’re stuck with so many bills, it does stink :(.

 

Looks like our son is too old to be considered for uhccf (16 or under), first hand foundation looks promising.  Even $5,000 would be a huge help towards paying off that bill!  We don't for the others.  But thank you!  Good information to have :D

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creekland

creekland

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Posted

:grouphug:  to both Lisa and MedicMom.  I wish no one had to deal with pricey medical bills.  Dealing with the reason for those medical bills (the health issues) is enough to worry about.

 

It's one thing to lose retirement investments due to the economy.  Any investment one makes is a gamble.  It's totally another to have to decide between saving for retirement and getting needed medical things done.   :grouphug:

 

To anyone wishing to keep abreast (in the US), the current Senate Tax bill keeps medical deductions (costs over 10% of income).  The House version does not.

 

I won't go any more into politics.  Just stating that in case anyone cares. 

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