If there ever was a time to have an emergency fund, it’s now, as the coronavirus could lead to a loss of income and possible isolation in your home.
Does this mean you should panic if you don’t have funds saved for a rainy day? Not necessarily, as you can still meet this emergency head-on by making some simple moves that can save you money in the process.
Use Telemedicine Versus Traditional Healthcare.
What’s the number one tip health professionals are spouting over the airwaves right now? If you feel sick, stay home. Doing so can keep you from overwhelming doctors’ offices and hospitals.
Such a recommendation may not be reassuring with all the doom and gloom floating around. Luckily, you can still get medical attention via telemedicine (aka telehealth). Unlike a regular in-person visit to the doctor’s office, telemedicine gets you the help you need via the phone or video chat.
You may have seen telemedicine discussed on the news lately. That’s because it can help doctors treat more patients from a distance without spreading illness via face-to-face interaction. In other words, it comes in handy with COVID-19.
Not only is telemedicine quicker, safer, and more convenient than traditional appointments, but it can also save you money.
Telehealth consultations can cost less than the insurance copay at your doctor’s office. And if you think you have COVID-19, you may pay nothing for testing, as many insurers are now waiving such costs linked to the coronavirus.
Get Free Prescription Delivery
Many experts say you should have a 30-day supply of medication handy if you need it daily. If COVID-19 results in a 14-day quarantine, this suggestion will undoubtedly come into play.
You can sometimes get 90-day prescriptions delivered to you, which would give you a nice stockpile of essential medications, just in case. By arranging for delivery now, you’ll be less likely to run into supply issues later on.
As for delivery charges, CVS Pharmacy just announced that they would waive delivery charges for prescriptions due to the COVID-19 outbreak, making it a great time to take advantage of that offer.
Buy What You Need and What Will Last
Although we don’t yet know if there will be a widespread quarantine or how long the coronavirus scare will last, refrain from scooping up every supply you see. Even if you witness others doing it, wasting money on excessive supplies like pallets-worth of toilet paper isn’t wise.
Even though most expect the electricity to stay on, stray from strictly buying foods that can spoil. Sure, you can buy frozen foods for use later on, but know that anything that needs refrigeration comes with a bit of risk.
Canned goods can last for a long time and are often quite affordable. And when picking foods or any other supplies, always go with the generic options. As this is an emergency, the need for more expensive brand name items diminishes since you should strive to save as much money as possible.