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Five Ways to Help a Sick or Injured Friend with Money

The basics of personal finance – paperwork, organization, policies and bills – can become overwhelming for someone battling a sickness or major injury. So we’ve put together a list of ways to help a friend or family member who has a health issue. Sending a white orchid might lift a spirit, but helping out in these areas can eliminate some serious stress.

1) Become the health insurance guru: Sorting through mounds of paperwork and tracking down answers to seemingly simple questions like, “Will you pay for homecare?” takes a lot of energy. Offer to study the health insurance policy and be the point person for all questions during recovery. That way, your loved one can focus on getting better and you can deal with the health insurance headache.

2) Check out the disability plan: If your loved one works, there’s a good chance s/he is covered by a short-term or long-term disability plan. This means that they can take some time off and still receive a portion of their paycheck. Sometimes employers automatically provide these insurance plans to employees as part of the benefits package. Sometimes they offer policies with discounted rates to employees. Volunteer to call the human resources department and find out if a plan is in place, how long it lasts, and how much it pays. This is an important to-do that should be checked off the list right away.

3) Set-up automatic bill pay: It makes sense to automate all bill payments, especially if the recovery process is going to take a while. Most checking accounts provide free electronic bill pay these days. Help your injured pal set up an online bank account and automatic bill pay for credit cards, school loans, even utilities. It’s awful to recover from a health issue with a heap of bills and a dinged credit score.

4) Ask about the will: Discussing wills rarely feels comfortable, especially when someone’s life is in danger. But you should consider asking if their financial house is in order, just in case the unthinkable happens. It’s now possible to write a simple will online.

5) Organize support via an online calendar: It’s likely that other friends want to help out but don’t know what to do. Make it easy for them by creating an online calendar and inviting them to sign up to bring dinner, provide a ride to a doctor’s appointment or walk the dog. Keep the calendar, and directions, simple. Check out Lotsa Helping Hands or Google calendar (if you and your friends use Gmail) to get started. Your loved one may feel badly asking for help. Ask for them.

– Kristen Sullivan

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