When I mentioned that our stockpile has meant that I don't need to go shopping, Mr. Credit Card pointed out an emergency fund provides peace of mind too. I hadn't thought about our emergency fund much because it's always there. In fact, so much of our finances are on autopilot that I hadn't thought much about money in the midst of the medical-induced stress.
Not surprisingly, then, during the current medical crisis, money hasn't been a source of stress - even though we've been spending significantly more on fast food and toys.
I haven't seen anything on the actual medical costs yet. I expect them to be substantial, but I don't have to worry about our ability to pay them. Because we've had good financial practices in place for years - namely, good health insurance, a flexible spending account with wiggle room, and a solid emergency fund - there should be more than enough money to pay the bills.
(Which isn't to say that I'm not interested to get the explanation of benefits statement from our insurance company, because I'm very curious to see how much a three-day hospital stay can cost. Not to mention three trips to the ER and an ambulance ride!)
Previously: How much should you contribute to a Flexible Spending Account?
4 comments:
I'm glad you and Marc are so conscious of your health benefits and take advantage of your FSA. That was one of the most important benefits offered to me when I was working, and often meant I could see a doctor when otherwise I wouldn't be able to afford it. I don't envy you the sight of your first bills from those visits- been there,done that, and still paying for the ambulance ride! I'm happy to know that it won't hurt you the way health care can hurt the ill prepared (like I once was).
Thank Goodness you have health insurance. My Husband had an overnight stay in ICU and it was over $100,00 for the care and room. Luckily we also have good coverage. Something must be done to regulate the astronomical fees these hospitals charge.
when hubby was in the hospital, three nights cost 5000 a night. I was only topped by the actual surgery, which cost 90,000. Not to mention all the other costs. I would like to thank my insurance company for footing all those bills.
Thanks, everyone! I only have my c-sections to go off of, and I think they were about $1000-ish out of pocket for us. I was in there for three nights also, and had surgery, but then again, my understanding is that OB stays are pre-negotiated at a set price. So ... I don't know if that's a good predictor or not. We shall see!
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