A Lesson from My Son’s Health Saga You Can Use

However, my son was left with severe financial pain.

For the past few months he had gotten big bills from three different hospitals. I told him not to worry—that’s why he has insurance. Once the insurance paid the negotiated rates, he would find out what he owed.

A few weeks ago I got a phone call from my son, who was in a state if panic. He had just gotten off of a phone with his insurance company, and he learned he made a big mistake. A very big mistake.

Almost a year ago, his boss had recommended that my son change to a high deductible health insurance plan. After all, he was young and healthy, and he could significantly reduce his monthly insurance premiums.

That worked out well—until my son actually needed the insurance benefits.

So, now my son would be saddled with at least a $5000.00 bill that he would have to pay out of pocket.  That would almost wipe out his savings.

I told him not to worry. He could negotiate with the hospitals and get on a payment plan that would work for him.

I went online to gather tools to help my son negotiate.  That’s when I came across a program called the Washington State Charity Care Law. Here’s how it’s described:

Approximately half of all Washingtonians are eligible for free or reduced-cost care at Washington state hospitals.  These protections apply to out-of-pocket hospital costs, including co-pays and deductibles, regardless of insurance status. Washington law now provides the strongest protections in the country for out-of-pocket hospital costs.

The new law significantly increases eligibility for out-of-pocket hospital costs, such as co-pays and deductibles, as well as expanding eligibility for discounts. Prior to the new law, a single parent working two minimum wage jobs at 50 hours per week was not eligible for financial assistance at Washington hospitals. The new law changes that.

The law ensures all Washingtonians within 300 percent of the federal poverty level are eligible for financial assistance on out-of-pocket hospital bills. Families making up to 400 percent of the federal poverty level could be eligible for financial assistance depending on the hospital.  

I remember being with my son when he checked in for a follow up outpatient appointment. The registration clerk informed him about the “Charity Care Program” but I didn’t even think to ask about it. I assumed it was for the indigent or for the uninsured.

My son works at Trader Joe’s. Many of its employees would qualify for this plan. Yet, no one from HR or even his co-workers in the break room suggested, “Look here for help.”

My son applied for the benefits, and now has a medical bill of zero.

Here’s why I share this story with you.

• Maybe, like my son, your clients get their investment information from the wrong source. Was my son’s boss really the best person to advise my son about the health plan?
• You may have knowledge about strategies and tactics about wealth-building that your prospects and clients may not even know about.
• Maybe, like me, your clients heard about a program, but dismissed it because they thought, “This doesn’t apply to me.”
• And maybe this dismissed idea could make a huge impact, just as it did for my son.

How do you inspire your prospects and clients to listen?

Tell more stories!

Please feel welcome to share this story with your doctor prospects and clients as you describe your own wealth-building ideas. Maybe it will help them listen in a new way. That’s the ultimate power of story.