I need financial counceling NOW?

Question

I make about $55k-65k a year, my husband stays home with our children because of our son's health needs. So we lost his income of about $30k I have a government job and okay insurance. However they didn't cover $50,000 of his medical expences over the past 2 years (we adopted him and had to pay OOP for the first 72 hours)

Now he needs a shot 1X a month and it's $8,500 a month and I pay $850 a month out of pocket. Plus $500 a month to my flew spending account (which was used up by feburary) and $410 on what I still own in birth expences.

We've been blessed enough to be able to get his bills down to about $18,000, but now with this shot we're going to go backward.
What should I do?
Can anyone help me here?
Is anyone willing to give me some counceling VIA e-mail so I can go into more detail... I'm desparate.

Katherine, It's the RSV vaccination and I only pay $850 out of pocket , and He was a preemie. I would and have given anything I have for him, but, now I need to recoop financially. I do appreciate that insurance covered $500k for his bills and the $50 k is just a drop in the bucket compared.

I've applied with patientaccessnetwork.org for assistence, but have got no answer. Can anyone afford these kinds of reacurring bills.

I wouldn't call myself broke yet, but we've cut back on investing and of course reduced unnecessary spending to pay what we have so far.

Would you withdraw from your TSP to fund these bills?

Answer 1

well, this is more of a long term solution, but keep the receipts for ALL medical expenses for not only your son, but you and your husband as well. When youre doing your taxes, make sure you itemize. You should be able to deduct alot and get a hefty refund. Use the refund to pay for expenses the next year. Remember you can only deduct what you have paid out of pocket, so keep the proof.

Answer 2

A shot that costs $8,500 a month? That sounds really crazy. Did you get a second opinion from another doctor? You should also ask your physician about help with medical bills: some pharmaceuticals will give reduced rates on medications to those in dire need. Also see if you can negotiate other bills. If you're working with a hospital or an insurance company, ask for a social worker to help you explore financial options. Also, I'm stunned that an adoption agency or adoption lawyer would encourage you to adopt a child who was so sick. I'm sure you love him or her, but this whole situation sounds really bizarre.