How healthy people are in the area you live in can have a direct impact on your finances, especially if you live in a small town. The smaller a town is the faster viruses spread from person to person. This can wreak havoc on your finances if you repeatedly get sick because you are around others who are sick. Doctors will likely start charging more per visit if they are seeing a lot of patients with the same illnesses in a short amount of time. This article is going to explain how overall local health can affect everyone’s finances.
If you live in a generally unhealthy area where either the water, the air, or both are polluted you will probably have to pay more for your health insurance policy because insurance companies will consider you to be high risk.
New communities in a town often result in everyone having to pay more for their medical care. Since new communities are often on the smaller side, businesses in those communities are likely to charge more for over the counter medications if they see that many people in the area are having health problems. As demand for a product rises, so does the cost of the product because this is how businesses make money. On the other hand, if a new community is full of healthy people and illnesses are rarely spread, medical treatment and medications will be cheaper because the medical industry won’t be as taxed if everyone is healthy as they would be if many people were not.
If an area is particularly polluted and many people contract some form of cancer as a result, medical expenses will rise in cost, putting a financial strain on middle and lower class citizens.
Partnerships between two companies in the health industry can result in cheaper healthcare rates for the community’s residents. For example, in Port Orchard, Nebraska two organizations recently came together to reduce local healthcare costs. The Kitsap County chapter of United Way teamed up with FamilyWize to work together on partnering with pharmacies in the area to reduce the cost of prescription medication for conditions such as diabetes, asthma, high blood pressure and cholesterol and other medical conditions. They also worked to reduce the cost of medical services for people with heart issues. The two organizations gave local residents prescription discount cards at no cost to them. This card can save families up to75% on their prescription medications. Similar efforts all over the nation have resulted in the saving of over $448 million.
A study conducted by these two organizations shows that for every dollar an individual spends on medication for both diabetes and heart disease they save anywhere from $3 to $10 on medical service fees.
Local health can be a very important part of your finances. If you have medical problems and are having trouble paying for your medication or doctor’s visits and procedures, seek help within your community. You may be surprised at how much you can save and how much healthier you are as a result.
Author Bio: Dave Smith is a financial blogger with a strong passion for frugality. He believes that though you should be frugal in life, you should never be to frugal with investments like HealthInsurance.net, that can bring you peace of mind from reassurance.
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