I read an article in the Philadelphia Estate Planning Council Newsletter by Susan H. Kavanagh of Kavanagh Solutions pertaining to estates and medical claims. I have discussed in prior blogs that upon someone's death, the debts and expenses of the estate must be paid prior to any distribution to heirs or beneficiaries. An increasing problem for estates are medical claims, as noted in the article.
What is the problem?
This increase is due to gaps in coverage, higher deductibles and coinsurance policy limits; hospitals and other providers are negotiating higher fees and aggressively pursuing balance bill collections; medical cost inflation; reimbursement issues; prescription drug cost increases and aging baby boomers having more medical problems.
What can you do?
You want to be adequately insured and make sure the same applies to your loved ones; have a professional review significant bills/payments for chronic illnesses; organize your bills chronologically; become knowledgeable in insurance and healthcare; seek the needed expertise from others.
Share your comments or contact us at http://www.ythlaw.com/
What is the problem?
This increase is due to gaps in coverage, higher deductibles and coinsurance policy limits; hospitals and other providers are negotiating higher fees and aggressively pursuing balance bill collections; medical cost inflation; reimbursement issues; prescription drug cost increases and aging baby boomers having more medical problems.
What can you do?
You want to be adequately insured and make sure the same applies to your loved ones; have a professional review significant bills/payments for chronic illnesses; organize your bills chronologically; become knowledgeable in insurance and healthcare; seek the needed expertise from others.
Share your comments or contact us at http://www.ythlaw.com/
1 comment:
With increasing medical costs nowadays, it is very important to be knowledgeable about what would happen upon one's death. Proper estate planning can help offset the burden for children handling these claims.
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