Uninsured medical costs are one of the largest potentials expense on a family budget. Medical expense in your family budget is crucial because health insurance terms, profits and regulations change very quickly. In addition, medical protection is directly linked to your family health, by definition, you want to be sure that your survivors can pay for your medical expenses if you die. So after completion of the budget sheet, add a lump sum to the for paying unexpected and uninsured medical costs.
How much to add? Good question! The figure that you decide vary depending on the type of health insurance you now have. If you belong to an HMO, most of your medical expenses are covered. But if you have a private plan to pay 20 percent of costs, then your portion is likely to be much larger. Only you can really estimate this amount. However, most experts say that you should always keep about three months worth of living expenses available, try adding this amount down from the sheet of your emergency fund to cover those uninsured medical expenses.
How much to add? Good question! The figure that you decide vary depending on the type of health insurance you now have. If you belong to an HMO, most of your medical expenses are covered. But if you have a private plan to pay 20 percent of costs, then your portion is likely to be much larger. Only you can really estimate this amount. However, most experts say that you should always keep about three months worth of living expenses available, try adding this amount down from the sheet of your emergency fund to cover those uninsured medical expenses.
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