The price of gas, the price of eggs and milk- these are the kinds of expenses that we’re very sensitive to as consumers because of how frequently we make these purchases. And don’t forget visibility of course with the price per gallon essentially plastered on electronic billboards we consistently drive past! But the cost of insurance feels like the exact opposite. We rarely shop for coverage, it’s not often discussed, and automatic payments insulate us from rising premiums. In the case of homeowners insurance there’s an additional layer of insensitivity in the form of escrow.
But insurance is becoming more of a burden and here to tackle this problem is Lisa Gill from Consumer Reports. Lisa is an investigative journalist and we’re going to discuss everything from wildfires to prescription drugs, what to do if you receive an insurance cancellation notice, the steps to take when you receive a medical bill that’s way too high, and much more during our episode!
Additional links:
- GoodRx.com – Search using your local zip code for a pharmacy’s lowest possible cash price for a prescription medication if you aren’t using insurance. Savings are highest for generic medications. Pro tip: See a lower price at a big chain store? Call your mom-and-pop, independent pharmacy and ask if they’ll match or beat that price.
- Needymeds.org – Got a prescription for a pricey medication for which there’s no generic? Use the search tool at Needymeds to find links for your drug’s manufacturer coupon savings and patient assistance programs. These programs could net substantial savings or even free medications if you qualify.
- Dollarfor.org – Have a hospital bill that exceeds your ability to pay it? Head to this site to find out if the hospital offers patience assistance programs or charitable care, and how to apply. Staff at DollarFor will help you download forms, fill them out, and submit them to the hospital’s program.
- Consumer Reports – Here are some CR articles we referenced in the show…
- Money Gears – Knowing your ‘money gear’ is a crucial part of your personal finance journey. Start here.
- Credit Card Tool – Looking for the right credit card for you? Then check out our new credit card tool that’ll help you to easily filter through all the cards based on your preferred airline, whether or not they have an annual fee, or simply by the cashback offer! Just toggle the sliders and you’ll know which card to consider.
During this episode we enjoyed a Primordia by Freak Folk Bier! And please help us to spread the word by letting friends and family know about How to Money! Hit the share button, subscribe if you’re not already a regular listener, and give us a quick review in Apple Podcasts or wherever you get your podcasts. Help us to change the conversation around personal finance and get more people doing smart things with their money!
Best friends out!
