Comment by SoftTalker
Comment by SoftTalker 12 hours ago
Hard to say because differnent things have different coverages but I'd ballpark it at $5K worst case. That would hurt, but it would be managable.
Comment by SoftTalker 12 hours ago
Hard to say because differnent things have different coverages but I'd ballpark it at $5K worst case. That would hurt, but it would be managable.
"Maximum out of pocket" is a single dollar amount listed somewhere in your health insurance plan. It'd be in the ballpark of $8 or $9k. (Again, double it.)
If you are saying you only have $5k saved then your plan effectively reduces potential bankruptcy-level of healthcare debt down to a manageable level of healthcare debt.
If you have a high-deductible healthcare plan (HDHP) through an employer, look into setting up regular contributions from your paycheck into a health savings account (HSA). You can use an HSA to build a healthcare emergency fund (and later invest those saving like you would in a regular retirement account, which is what it turns into when you hit retirement age).