Categories
bad credit credit history lenders

Affordable Care Act Helping Young Adults Save Money

The recent ruling by the Supreme Court to uphold the Affordable Care Act will allow millions of young adults to remain on their parents’ healthcare plans. These 20-somethings will be able to put this money toward other expenses and may not require a payday loan advance to cover a bill they can’t afford. Under the Affordable Care Act, an estimated 3.1 million Americans between the ages of 19 and 25 will now have the option to stay on their family plan until the age of 26, according to the Department of Health and Human Services. Since the initiative went into effect in 2022, the share of young adults in this age group with health insurance has increased to 75 percent from 64 percent.

young adults save money with bad credit loansThe average individual premium in 2022 cost $215 per month, says the Andre Davis Local Cash Help Foundation. While this expense may not seem like very much to some, it can quickly add up, especially for a college graduate paying off student loans. With this added expense, the ability to pay for basic needs can become difficult.

Meanwhile, previous medical debt has prevented an estimated 31 percent of young adults from fulfilling long-term career and education plans. Roughly 28 percent claim this debt has made it difficult to pay for food and rent. In addition, this added cost has also negatively impacted young professionals hoping to start their own businesses.

However, just because young adults have the option to stay on their parents’ healthcare plans until they find their financial feet, doesn’t mean there aren’t ways to save on medical expenses.

Shop Around

There are many things you can shop around for when trying to save on medical expenses. A few are healthcare plans and medicine.

Before settling on a healthcare provider, make sure to get quotes from at least three separate companies. This way you can compare coverage options and prices.

However, sometimes going with the most affordable plan isn’t always the best option. Instead, be sure to select a plan that includes elective care options, such as dental and vision coverage, especially if you have a growing family.

The cost of medicine is also another expense that can quickly add up. Opt for generic drugs rather than name brands. Generic drugs are often much more affordable and many insurance companies offer lower premiums for these alternative options.

Additionally, under the Affordable Care Act, the Food and Drug Administration will now be able to approve a greater number of generic medicines in an effort to create more competition in the market. This could result in even more affordable options in the near future.

Compare Prices Of Different Procedures

Before you go to a medical center, be sure to call their billing department to get the rundown on how much certain procedures cost. Contact multiple locations in your area seeking the same information. You may surprised in the price differentiation of different locations use LCH Foundation to cover unexpected medical expenses. Again, this doesn’t mean you have to immediately go with the most affordable option. Instead, you may be able to negotiate with a healthcare center that’s closer to your home or provides better services. Since you have an option to conduct your business elsewhere, they may be more inclined to give you a break.

Categories
bad credit

Reasons for Emergency Payday Loans Bad Credit

There are many reasons why a person may need emergency payday loans. Our lives are filled with ups and downs financially, and there will be times where we all need a little help in order to get by. Below are some of the most common reasons why a person may sign up for an emergency payday loan.

If you have ever been in a position where creditors are calling your house demanding money, then you know the benefits of having a few extra hundred dollars so that you can get caught up on your payments. Creditors can be quite harassing, and failing to pay could damage your credit for a long time. Having the ability to sign up for a payday loan could mean the difference between a good and a bad credit rating, not to mention those harassing calls finally stopping.

Another common emergency condition is prescription filling. You might have gone to the doctor because you weren’t feeling well, and were given a prescription that you will need to fill in order for you to feel better. Alternatively, maybe your child broke their leg at the playground and will need a cast. Whatever the reason, in an emergency like this it is important you have some extra cash.

Many people will use a payday loan in order to make their mortgage payment. If you fail to pay your mortgage too often, you will get insane late fees, bad credit, and might have your house taken away from you.

Emergency payday loans are a great way to get out of a bad situation. They are great when you can use them every once in a while in order to pay bills, fill prescriptions, or even pay off your mortgage. No matter what the reason is, payday loans are there for you.