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Daily Links: Back to Work Edition
Sunday, 10th August 2008 (by J.D.)This article is about Spare Change
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Thanks, everyone, for your patience over the past week. I’m pleased to report that my mother is doing well. She’ll remain in the hospital for another week at least, but she’ll be home soon enough. We’re no longer tense and worried — just a little anxious.
Part of our new-found optimism is because mom’s insurance is awesome. As I was researching expected costs last week, one hospital employee told me, “Your mother’s insurance is great. I wish I had insurance like this.” That probably means she’s been paying a heck of a lot out-of-pocket the past decade, but now the three-week hospital stay is only going to cost her a couple thousand dollars. Right now, that’s a relief.
I’ll return to full-time blogging on Monday. Meanwhile, here are some interesting links I’ve picked up from around the web:
About a month ago, Mrs. Micah issued a single-step personal-finance challenge. “Find one step you can take to make your financially system better or more organized,” she urged her readers. Just find one step — big or small — that you can take toward your goals. I like this idea. I’m going to open a high-yield online savings account for my business. In a terrible irony, GRS money currently earns 0% because I haven’t opened a business savings account. I’ll change that this week.
Also last month, USA Today ran a piece that declared as food prices soar, it’s back to basics for meal planners. The article describes what average people are doing to stretch their food dollar. There’s also a sidebar with eight great ways to save money at the grocery store.
Liz Pulliam Weston recently asked, “When should you spend to save?” Weston looks at the pros and cons of:
- Retail membership clubs
- Extended warranties
- Warehouse clubs
- Roadside assistance
- and more…
Finally, No Credit Needed just shared a monthly checklist to speed debt reduction and increase savings. Though I’m skeptical that NCN does each of these every month, there are some good ideas here. I especially like the advice to make a sweep of your home to look for things to sell. Selling your unused Stuff is one of the easiest and quickest ways to generate quick cash for debt reduction (or saving).
17 Responses to “Daily Links: Back to Work Edition”
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August 10th, 2008 at 3:52 pm
I am anxious to hear which business savings account you open. I have had that on my to-do list as well, but have been hesitant to commit to one. Could you also share the transfer time info for the funds. In addition to the interest rate, I have been looking at being able to transfer money into our business checking account quicker than 3 business days which is what I have found to be the most common time so far.
August 10th, 2008 at 4:34 pm
I’m glad to hear that all is going well with your mother. That’s good news.
August 10th, 2008 at 4:53 pm
Sharp-eyed readers will note that I’ve lopped out text that said I was going to post a few more guest articles. I’ve decided not to do that. I’m itching to get back at it, so I’ll do some easy articles for Monday (a couple of article summaries), and then return to my normal routine…
August 10th, 2008 at 4:58 pm
I’m glad your mom is recovering and that she won’t have a huge financial burden. Can’t wait to see your posts next week.
August 10th, 2008 at 6:26 pm
Glad to hear the news about your mom! And thanks for playing along too. Glad to hear your money is earning more than 0%! Mine was doing that for an embarrassingly long time.
August 10th, 2008 at 7:34 pm
Glad to hear about your mom!
August 10th, 2008 at 10:18 pm
Hey, glad to hear that your mom is doing well…
And, YES, I do these things every month! Why, what kind of personal finance blogger would I be if I just made up stuff and wrote about it?!?
Seriously though, thanks for the link and I’m sure that you’ll be happy to get back to “normal”…
Rock on,
NCN
August 10th, 2008 at 11:46 pm
Hope your mom can leave the hospital soon.
“Only” a couple of thousand dollars, huh? I guess I’m spoiled by the German health care system, where co-pay for a hospital stay is like $25 per day…
August 11th, 2008 at 1:16 am
glad your mom is cool JD.. keep it movin’
August 11th, 2008 at 2:23 am
Sincerely glad for your mum!
Get Well… Quickly.
August 11th, 2008 at 6:13 am
So glad to hear your mom is doing better! Continued best wishes for a speedy recovery!
On the saving money on food tidbit and after reading your post about the diminishing sizes of your favorite yogurt, I decided it was time to take the plunge and try to make my own yogurt WITHOUT having to buy a yogurt maker. WOW! An easy process and depending on what kind of milk you buy, a HUGE savings! I’ve saved at between 1.00 and 1.70 per QUART (depending on brand of yogurt…Dannon or Stoneyfield) and will be trying a store brand milk (3.39 a gallon or .85 cents PER QUART of yogurt.)
Google “homemade yogurt” for easy tips and tons of recipes. You need milk, dry powdered milk, yogurt starter (plain store bought yogurt–just 2-3 tablespoons with live cultures OR dry powdered mix), a 4 cup measuring cup, candy thermometer, some towels and heating pad and something to put the yogurt in–I use a quart jar. Also, a draft free, warm (105-110 degree) environment in which to incubate the yogurt.
You’ll never buy ready made yogurt again–unless you need some new starter!
August 11th, 2008 at 6:19 am
Whoa! What insurance does she have?
This very day Our Beloved Employer, who has canceled its best plan and the only one that covers my doctors, is going to tell the assembled peons what choices we will have this year.
Does she get her coverage through an employer, or is it Medicare supplemental coverage? If the latter, who’s issuing it?
Glad your mom is feeling better. Hope she springs back to full health soon.
August 11th, 2008 at 6:23 am
Funny About Money, the box factory has Kaiser for insurance. I have no idea what plan mom has with them, but apparently it’s a good one!
August 11th, 2008 at 8:31 am
That’s great news about your mom! I’m so glad to hear she’s doing well
On a PF front…please please please keep all statements and EOBS from her insurance. If the insurance is great or not, it still must be worked correctly to avoid costly financial mistakes.
I suggest keeping a log and record all providers and services she receives and what date it occurs. The facility bills as well as each specialty involved…and even lab, radiology, etc can have physician bills. Even if you don’t receive a bill or statement - it doesnt mean a claim hasnt been sent to the insurance and possibly not paid. (”Denial” doesnt always mean a real denial. It may simply be a request for more info).
I assume your mother is Medicare age? Even if she is entitled to it due to age, she still must complete the paperwork. If she does have Medicare, please inform all providers of the correct coordination of benefits regarding. If Medicare is billed incorrectly, even as an honest mistake, it is considered fraud.
Sorry to lump a bunch of information at you. I lecture about this all the time because I see the havoc that can occur in a person’s financial life and credit report when it comes to medical billing. And, with medical billing, it doesnt matter if it is the provider’s fault or the payer’s fault - the individual still suffers.
Take care.
August 11th, 2008 at 8:49 am
Good to hear good news about your mom! I continue to wish you well.
My single step that I’ve decided to take is to always be aware of all my accounts, so I signed up for mint.com. I’m a big fan so far. I have a budget spreadsheet for each paycheck but its nice to see checks clearing and deposits made all on one page, no need to log onto 5 different sites. I hope the site continues to grow…
August 11th, 2008 at 3:09 pm
Glad to hear the good news on your mother regarding both her health and the insurance proving to be good. I had an unexpected 32-hour stay in the hospital week before last for chest pains. After being given morphine and tested extensively (chest CAT scan, nuclear stress test, etc.), everything checked out okay and I was released. Their thinking was a possible GI issue, but I have pretty much come to the conclusion it is a pulled muscle and muscle spasms (I had lifted our canoe up to my chest level right before the first pains started and lifted it again the next day). Since I have done this before many times, it did not seem like a likely cause at first. Each day the pain has lessened, so we went ahead with a planned vacation and returned this past Saturday. The hospital bill was already in our mail and it alone was $16K. (That does not include doctor’s services.) So, just imagine my reaction when I got a letter today saying that the hospital stay would not be covered because the justifications for in-patient care were not sufficient. After several calls to the insurance company and finally getting a supervisor, I feel fairly certain that it’s a matter of the hospital not providing enough information (just like FranticWoman said). So I will be on the phone with them tomorrow to get the denial appealed and resolved soon. I think my heart rate in response to this situation was more accelerated than for the stress test given at the hospital and I know I felt sicker than I did there.
I am glad it’s working out for you NOT to be away so long. I enjoy the guest posts, but your voice is unique and I look forward to your posts.
Eating simply food wise is such good common sense. It is pretty much the M.O. for me being gluten free. Much healthier and less expensive than buying tons of prepared and nutritionally deficient “gluten-free” foods.
I have yet to sell anything on eBay. It makes sense, but i don’t have an eBay system in place and I seem to reap more returns by giving to charity. I just think goodness and wealth come back to you when you give away things other can use. I suppose if I were in desperate need, I would consider selling on eBay.
I will have to think about the one thing I can do …
August 12th, 2008 at 10:04 am
Good call Shirley - getting right on that “denial”. I have experience with denied inpatient care - and I can tell you denial letters stating it didnt meet criteria (or wasnt approved) doesnt always mean how it sounds. It’s hard informing the general public how this works. I wish more patients were like you! (actually, it is hard for many many professionals to understand it in the hc field n/m pts!)
Just keep on it. Make sure you understand the details of the denial and make sure the hospital follows up. THen make sure your insurance admits to receiving the info then processing it. THen make sure they pay it. Then make sure the hospital posts it to your acct properly…sounds like fun, huh?