The High Cost of Living Affecting Families

The warm weather is here as the days get longer. It is nice to drive by Dean Park again to see the children playing baseball and softball and families walking together with their pets. As summer is around the corner where many famlies will be planning their vacations and staycations, has anyone noticed the high price of gas recently? Can you believe that we are paying up to $ 4.00 per gallon of gas again?  Also, many families and individuals are also paying higher preminums for their commercial health insurance plans and the cost of buying food has skyrocketed. The Affordable Healthcare Act was intended to make health insurance more affordable and provide better quality services for their consumers. This is not the case. As an example, one health insurance company in the Worcester area raised their rates from 8% to 20% per year. For those who chose the former, they are now responsbile for increased co-pays and higher deductibles.

 Specifically, if an individual or child needs day surgery, the family has to first pay the $1,000 deductible upfront before the standard $ 250.00 co-pay applies therafter. Prior to the increase, a family would pay only $ 600.00 and still be forced to pay this expensive co-pay prior to having surgery.  The ability to have reasonable and affordable payment plans are no longer in existence as medical providers are worried about being paid.  Despite the high costs of daily living in Shrewsbury and in Massachusetts, what are families supposed to do?  Cut down on buying healthly foods and avoiding required surgeries to promote their quality of lives? Are we promoting single families where it will be be easier to be on the State Mass Health system either for free or at a reduced rate? 

Here are some options:

 1) Contact your state and federal legislators to voice your concerns for increases in the cost of living in our state. The state house number is: 1-617-722-2000.  Congressman James McGovern's number is 508-831-7356.

2)  Be creative in budgeting your funds to sustain a quality of life for your families. For example, you will have to make a list of your wants and needs and find that many of your wants will have to be cut to pay for your needs.

3) If you are experiencing financial stress, seek out counselor in your area. Shrewsbury is well-populated with qualified mental health professionals such as counselors, social workers and psychologists.

4) Seek out a local financial planner to help you evaluate your monthly living expensive. Again, Shrewsbury has many qualified licensed financial planners in the area.

5) Take out books from the Shrewsbury Public Library on Financial Planning and Budgeting.