Budgeting for healthcare expense is a new process for the healthcare consumer to understand and complete. This process is becoming more critical since the management of healthcare and associated costs have shifted to the consumer. The following is a guide to assist the healthcare consumer in the budgeting process.
ANNUAL HEALTHCARE BUDGET TEMPLATE
| Healthcare Expenses | Computation | Projected Annual Costs |
| Monthly Insurance Premiums | 12 months/monthly premium | |
| Projected Annual PCP Visits | Visits/Co pays per visit | |
| Projected Annual Specialty Visits | Visits/Co pays per visit | |
| Projected Chronic Visits | Visits/Co pay per visit | |
| Projected Annual Prescriptions | Co pays per Prescription/Number of Rxs | |
| Elective Surgeries | Out of Pocket | |
| Emergency Medical Expenses | Best Estimate |
By now, you clearly have an idea on how complex healthcare planning is and how important it is to you and your family. This process should be an annual event. The first year is the worst because of the learning curve. Subsequent years will be easier.