Kidney Transplantation Finances: Think Creatively
If getting the kidney replaced is the priority, money would be the least of your concerns. But a little financial planning won’t hurt.
Kidney transplant surgery is a complex and costly medical procedure. In addition to the medical challenges of finding a suitable donor and preparing for the surgery itself, there is also the financial burden of covering the expenses.
It is estimated that around 2.2 lakh Indians need a kidney transplant every year.
For many patients, the cost of a kidney transplant is simply too high, and they may struggle to find solutions to manage their finances. Explore some of the ways that can help you manage the financial challenges of a kidney transplant.
Understand your medical expenses
The first step in managing the financial burden of a kidney transplant is to understand the costs. This will help you plan for the financial impact.
Usually, a kidney transplant entails pre-transplant testing, hospital stays, medication, follow-up care, and other expenses.
Check the Health Plan
The next step is to check what expenses are paid for: You need to understand the finances your health plan is going to shoulder. Most health plans are comprehensive, and they help you with the cost of the transplant surgery.
However, there may be out-of-pocket burdens that are not covered, such as travel, lodging, and medications. Hence, it is important to read your health plan documents carefully to map fund flow in advance.
You need not worry about OPD expenses like medicines, lab tests, doctor consults, and so on, if you’re covered with a Kenko Plan.
Create a budget
Don’t wonder where all your money went; create a budget to track your expenses and income. Include all your regular expenses, such as mortgage or rent, utilities, groceries, and transportation. Add in any new expenses related to your transplant, such as lab tests, medical supplies, and follow-up visits.
Explore financial assistance options
Speak with your medical team about any financial assistance programs available to help cover costs. Non-profit organizations may be able to offer financial assistance.
Consider disability benefits
If you are unable to work during your recovery, consider applying for disability benefits that will help you with your daily expenses. You can again check if you’re eligible for any government compensation or assistance.
Plan for time off work
Plan for the time you'll need to take off work for your transplant and recovery. You may need to use your sick leave or vacation time or negotiate a leave of absence with your employer. This won’t just help you financially, but you will also have a job waiting for you once you’re out of recovery. You need not leave your office work in peril.
Build an emergency fund
Trying to build an emergency fund may sound like it's too late just after you know you need a kidney transplant. That said, building an emergency fund or tapping into another one like the retirement fund can help cover unexpected expenses.
However, if you’d spend smart on healthcare, then you may not need to worry about tapping into an emergency fund.
Remember to stay organised, keep track of all your medical bills and receipts, and ask for help if you need it. With proper planning, you can minimise the financial stress of a kidney transplant and focus on your recovery.
Wondering if you can make all your medical bills ZERO? Yes, you can just subscribe to a super-affordable Kenko Health Plan and save a ton of money. Get discounts even on daily healthcare.