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How to Recover from Unplanned Medical Expenses

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When it comes to surprises, most people prefer the good kind instead of the bad kind. Rarely is that truer than when a surprise comes in the form of an unplanned medical expense from an unexpected health issue.


Chances are you exercise regularly and take an active role in saving and planning for your future. Few life events, however, can sideswipe the best-laid wealth and health plans like an unexpected medical event and the resulting costs.


Even if you’re insured, you can easily find yourself saddled with out-of-pocket medical expenses that can range from a few hundred dollars to a few hundred thousand dollars. According to a 2016 Kaiser Family Foundation/New York Times survey, “one in five working-age Americans with health insurance report problems paying medical bills.” This same study tells us of the insured Americans who have incurred medical bill problems, 63% of them used most or all of their savings to pay medical bills.


While developing and sticking to an exercise and savings regimen can help keep your body and bottom line healthy, it’s important to educate yourself on what to do if you incur unexpected medical debt. There’s a lot you can do to protect yourself and your wealth including:


Read more about key steps to take to protect yourself and recover from medical debt.


Have you already experienced medical debt? What steps did you take to recover? What did you learn about protecting your wealth?




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This material was prepared for general distribution.  It is being provided for informational purposes only and should not be viewed as an investment recommendation.  If you need advice regarding your particular investment needs, contact a financial professional.

Insurance products and services are offered or issued by Transamerica Life Insurance Company, Cedar Rapids, IA; Transamerica Financial Life Insurance Company, Harrison, NY (licensed in New York); Transamerica Advisors Life Insurance Company, Little Rock, AR; Transamerica Premier Life Insurance Company, Cedar Rapids, IA; and Transamerica Casualty Insurance Company, Columbus, OH. Variable products and mutual funds are underwritten and distributed by Transamerica Capital, Inc., or Transamerica Investors Securities Corporation, each a broker/dealer and member of FINRA. Securities and investment advisory services offered by Transamerica Financial Advisors, Inc., a broker/dealer, member of FINRA, SIPC and a Registered Investment Adviser. Investment advisory services focused on the unique needs of individual retirees, retirement plans and their participants offered by Transamerica Retirement Advisors, LLC, a Registered Investment Adviser. References to Transamerica on this site apply to an individual company or collectively to these and other Transamerica companies. This site may not yet be approved by the Departments of Insurance in all states at the time of publication. Transamerica companies are part of the Aegon Group. Copyright 2011 - 2017 Transamerica Corporation, 4333 Edgewood Road NE, Cedar Rapids, IA 52499 - All Rights Reserved. Transamerica does not sponsor, endorse or promote any products or services mentioned

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