Saturday, March 18, 2017

Hitting our second deductible, finally

 This package came yesterday for me
containing my new PSA RX, order thru the specialty mail order pharmacy. You are looking at $4720/month or $14,160.21 worth of meds. Thud! With my copay assistance card, I am out $0. Now that we've hit the second deductible, as long as we remain with inplan providers, we should* have no medical expenses until the end of this plan year, August 2017. I've been waiting to hit this plateau, and now can pay the last installment of medical debt at the hospital (I requested and received a repayment plan at no interest), emptying out my HSA, but will still need to pay about $40 OOP to clear that debt up for good.


  I officially retired, effective 3-1-17, with the goal of entering retirement with the entire medical debt (of about $15,000) paid off in full. Another goal met, once I make this last payment. I've had a plan, I stuck with it, and reached my goals as a result. It's a great feeling.

9 comments:

The Line has been Drawn said...

Crazy how much medications can cost. Congrats on your retirement and also on achieving your financial goal!

Florence said...

Wow! $5,000 on medications! Sure hope they are doing you some good! I'm glad you are getting your hospital debt out of the way; it is always a relief to get out from under debt. Congratulations!

Linda said...

That's a lot of accomplishments in one post. Congratulations.

Kathy said...

Congratulations!
Health care is so expensive, even with insurance. Glad you were able to pay off the medical debt.

CTMOM said...

Line-thanks

CTMOM said...

Florence, yes, unplanned for medical debt (lost of wages for one month due to accident, running out of covered benefit for needed PT)is costly. Luckily, I knew that the hospital would work with me. I set myself up with a commitment of $200/month-that they were thrilled with, and minimally paying twice that/monthly as well as throwing large sums of savings at that debt as my goal was to have it paid in full come March 1. Slight delay in making the last payment, but I am now poised to do so, with the bulk of the funds awaiting in my HSA account, keeping my cash flow pretty much in tact. Have yet to try this new RX, tonight is the first shot.

CTMOM said...

Linda and Kathy, thanks. I am very goal oriented, had a plan, adjusted when needed to, and will soon (Mon) have it paid completely off.

Belinda said...

Congratulations, that is wonderful on meeting the second deductible and on your retirement. :)

Marcia in rural WNY said...

Great job of meeting all those goals. You are really focused on your goals once you set them! It does pay off, too.

My friend is on chemo for cancer and one drug was $14,400 a month--with his share being about $200 if I remember correctly. The drug worked for him for quite a long time before it caused so many side effects it had to be left behind. He was given 3.5-4 years at the time of his diagnosis in the second kidney--he is now 5 years, 3 months out from there, and still able to function and enjoy a decent quality of life. There have been rough spots along the way, however. It is not curable--but there are new drugs available since the diagnosis and he is still fighting, and living.