Showing posts with label Medical Emergency Fund. Show all posts
Showing posts with label Medical Emergency Fund. Show all posts

Thursday, June 13, 2019

3 Benefits of Starting a Personal Medical Emergency Fund

When something happens to us, the world doesn’t stop. This is especially true when it comes to bills. Many people today are starting a personal medical emergency fund to cover unexpected medical emergencies that accumulate major bills or prevent them from working. Here are 3 reasons that you should consider a personal medical emergency fund, too.

Health Insurance Doesn’t Cover Everything

Even if you have health insurance, it can’t cover all unexpected expenses that might occur because of an accident. Many times, dental procedures, weight loss procedures, and alternative treatments are not covered. When something is covered, you may still have to cover a percentage of the cost. 

Many prescriptions aren’t covered, either. An emergency medical fund gives you money to cover the things that aren’t covered by insurance. For people without insurance, an emergency fund is absolutely necessary in the event that they get sick or injured.

Attorney Fees

When you get into an accident, you may have to hire an attorney. An attorney is helpful if you got into a car accident, get injured at work, fall at an establishment, and a number of other reasons. While insurance companies claim to work for you, they are really trying to pay out the least amount possible. 

A personal injury attorney can help you get the settlement that you deserve. They can also listen to your case and tell you whether you should move forward or not. Your medical emergency fund can help pay for the personal injury attorney services.

Medical Emergencies Are Unexpected

If you want to buy a car, you can plan for it. You can save a certain amount of every paycheck until you’re ready to make your purchase. Unfortunately, you can’t plan for an injury or an illness. 

When it happens, you get the bills whether you are ready or not. If you have an emergency medical fund, you will be more prepared when the unexpected happens. This will prevent the bill collector phones calls, which is the last thing you need when you’re recovering.

Going through an illness or injury his bad enough as it is. It gets significantly worse when you see how much it is going to cost you. Make it easier on yourself by planning ahead and building up a personal medical emergency fund. You can use it to cover your medical bills, personal bills, and give yourself a piece of mind after a tragedy.

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