Financial Impact of Multiple Sclerosis

In addition to helping with the physical needs of a loved one with multiple sclerosis, caregivers may help with financial planning. This is especially true if you are a caregiver who is also the spouse or partner of your loved one with multiple sclerosis.

The financial impact of multiple sclerosis can be as unpredictable as the disease itself. The prospect of increased medical expenses and unplanned changes in income can make financial worries loom large. But there are ways for you and your loved one to have greater control over their financial life. With some forethought and planning, the two of you can reduce the toll the disease may have on their bottom line.

Create a spending plan. Know exactly what you and your loved one have and what you may owe so you can create a realistic budget. Sticking to a budget lets you always know exactly what you have and where it's going.

Set spending priorities. Decide which bills are most important, such as housing, groceries, prescriptions and insurance. Pay these bills first. Review your expenses to see if you are spending money on things you can happily do without.

Apply for all available assistance programs for which you may be eligible, including veteran's benefits, Medicare, Medicaid and state programs for low-income individuals. Further, be sure to contact the Manufacturer of the MS therapy your loved one is taking to make sure you are receiving the maximum allowable financial assistance to offset any out-of-pocket medication costs.

Ask your healthcare provider to write a prescription for assistive devices you may need, such as a brace, walker or cane. Insurance is more likely to help cover the cost when you have a prescription that shows you have a medical need for the device.

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