Medical Bills and how much to pay

iVillage Member
Registered: 12-12-2004
Medical Bills and how much to pay
13
Fri, 09-02-2005 - 12:53am
HI, Danni. I know this may have been addressed before, and I feel silly asking about it. But, how much, if any, do you set aside for "unexpected" medical bills. I dont have one of those programs at work (yet) where you can set aside so much per yr. toward expenses. I did that once, and I didnt have a lot of extra expenses that year, so I "lost" that money at the end of the year. Is it really a good idea to open another account (i.e., savings at another bank) and use it just for that? Whiz.

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iVillage Member
Registered: 03-27-2003
Sun, 09-04-2005 - 9:52am

I think all the suggestions have been great. I would add (and sounds like this may be the case with you that this is one you can't always predict). DH has flex medical account so we put in $1000 for the year. Sounded great until insurance decided DD had seen the specialist too much so now each specialist visit ($84) plus any X-rays ($104) isn't covered.

We are going to switch and go with enough taken out each month to cover the deductible. We have a high deductible so it seems like it would help.

Taleyna

iVillage Member
Registered: 08-19-2003
Sun, 09-04-2005 - 10:09am

I am afraid of trying the flex spending account because of losing the money that we do not use. I wish they would pass some sort of law that allows you to transfer the unused portion to you traditional IRA at the end of the year.

Since they do not we do our own medical savings. It works I just have to make sure we only use it for medical.

Shannon


Pregnancy%20ticker
iVillage Member
Registered: 12-12-2004
Sun, 09-04-2005 - 3:13pm
Hi, Shannon. I just want to say, thanks a million for all of the ING advice and how you do it. I truly appreciate it. I went to ING and downloaded it, and am printing up the forms for the "orange" account and the CD info. Will start with $50.00 for now, per month. With gratitude, Whiz.

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