If you’re faced with some sort of medical emergency or need to undergo a medical procedure, this can be a very stressful time. If you simply don’t have the money to cover those costs, then the stress levels can go through the roof.
In this article, let’s take a look at some top ways you can come up with the money to cover those medical expenses, reduce your stress levels and give you some peace of mind.
#1 – Can You Borrow the Money?
Is there a friend or family member that you can call on in your time of need? They don’t have to give you the money. You can borrow it off them with the promise of repaying the debt within an agreed period of time. If someone you know can help you out, it saves you accruing a debt that you’ll have to pay interest on.
Alternatively, have you recently loaned money to a relative or friend that they have yet to repay? If so, now would be a good time to ask for it back, if possible. The money they owe you might at least pay for part of your medical costs.
#2 – Get a Loan for Medical Expenses
When it comes to Medical Loans, Australia has quite a few options from a range of lenders. When looking into Medical Loans, if you have the luxury of time, it pays to do your research. If it’s an emergency expense, you may have to rely on a recommendation or take your chances with the first lender who approves your loan.
Medical Loans can come in the form of loans specifically tailored to medical expenses, or it could be a type of Personal Loan. Either way, borrowing money from one of the country’s many lenders is a quick way of getting out of a tight spot, with some private lenders offering cash transfers as quickly as the same day of the loan’s approval.
#3 – You Could Do a Fundraiser
If time is on your side, you might want to consider doing some sort of fundraiser to get the funds you need to cover the medical costs. When it comes to online fundraisers on sites such as GoFundMe and others, fundraising for medical expenses is one of the most common causes.
Alternatively, you might be able to organise some type of local fundraiser by holding an event that receives sponsorship. This might not be a doable option if it’s an emergency, but if you do have some time, a fundraiser can be a light at the end of the tunnel.
You can even do fundraisers on Facebook these days.
#4 – Turn To Social Media For Help
We mentioned Facebook above for fundraisers, but social media can help you out in other ways as well.
If you’re really stuck for cash and need the money fast to cover medical costs, you could try reaching out for help on social media. Not only could you do a fundraiser, but you could simply spread the word about your current plight and see what comes back. Someone in your online network might know of someone who can help you out.
Anything is worth a try when times are tough, and the online world is one of the best places to target, simply because of the kind of reach you can get when requesting help.
#5 – Do You Have Health Insurance?
If you do, then chances are high that your insurer will cover a decent portion of your medical expenses, on top of anything you might be eligible to receive under Medicare.
If you don’t currently have health insurance but want to sign up for assistance, does the insurer have a mandatory waiting period before you can make a claim? If not, then signing up for health insurance might be the answer.
#6 – Get An Advance On Your Wages
You might be able to approach your boss for an advance on your wages that you can pay back periodically. Or, if you have holiday pay accumulated, you might be able to convert that to cash that you can use to offset your medical expenses.
There are always ways to come up with the money you need, and in the case of medical emergencies, you’ll have options. Even if you need to borrow money, at least it’ll solve your most pressing problem: Your health.