Concerning Money and Insurance

In any health crisis, financial planning can become crucial to good health.  Not having to worry each day about how the bills will get paid can relieve some stress during an already stressful time. 

All of us need to be thoughtful about our financial circumstances, before we get sick and after. These are just a few financial resources we have found to be helpful and may include some you have not considered:

What is financial planning?
It is the process of meeting your life goals through the proper management of your finances. 

What is a financial plan?
It is the tangible result of recommendations and alternatives developed for you after consulting with a certified financial planner. 

How will financial planning help me?
A financial plan provides additional security, direction, and recommendations to meet your short-term and long-term life goals, as well as provides ways to adapt to changes and stay on track to meet those goals. 

Who can use the term financial planner?
Unfortunately anyone can call themselves a financial planner, so you should do your research and ask for recommendations from friends or family.  Someone who has a Certified Financial Planner TM mark or CFP has taken extra steps to demonstrate their professionalism by voluntarily submitting to the rigorous CFP certification process which includes demanding education, examination, experience, and ethical requirements.  For more information, visit www.cfp.net.  

What is the best ageto start financial planning?
The younger you start, the more beneficial the process will be.  Successful financial planning is a process which takes time and adjustments along the way to ensure you are staying on track to meet your goals and objectives. 

What if I am planning for a serious illness or death in the family?
The Financial Planning Association recommends you have the following in place:

An emergency fund
A centralized location for all important documents
A list of critical phone numbers
An updated will
Current health care advance medical directives, health care proxies and durable (financial) power of attorney. 
A list of assets
Instructions regarding care of pets

How do I find an appropriate health insurance program for my needs?
The U.S. Department of Health and Human Services provides information and resources to help find insurance, even for people with an existing disability.  You can also contact your state’s Department of Insurance. 

Government programs and grants may include:

Medicare
Medicaid
Supplemental Security Income
Social Security-Disability
Hill-Burton Funds
Temporary Assistance for Needy Families (TANF)
State-sponsored children’s health insurance programs (CHIP)
Veteran’s and military benefits
Breast and cervical cancer screening and treatment for low-income women:800-232-4636

CancerDancer would like to thank Donald Creech, CFP, CLU, ChFC, CLTC and his associates for compiling information for this page. 
Estate Planning

Estate planning involves learning several terms which may be new to some people. We have compiled a helpful list of definitions and resources to help.

 


Copyright 2012 by CancerDancer