It’s a simple fact of living in the United States: Painful health care costs come up out of nowhere like a twisted ankle or a bump on the head. Then there’s the bizarre case of a father apparently hitting the roof over the cost of his wife’s baby delivery: an example of sticker shock turning into relationship shock.
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A 32-year-old mom told the Reddit subforum “Am I the A-Hole” she’s now considering “ending her marriage.” The woman received an epidural, along with support services to help her give birth: nursery time, a lactation consultant, postpartum supplies, and even hospital food and blood tests. Necessities, right?
Not according to her husband, they ain’t. The man apparently took one look at the $8,000 bill and derided his wife for accepting such “luxury” treatment. She says he even claimed she “caved” after getting an epidural in her 24th hour of labor — even though he’d encouraged it at the time. And so he demanded the charge come out of her personal savings because “he shouldn’t have to pay for all of [her] extra requests.”
Is a few thousand dollars worth 14 years of a relationship down the drain? Even if this example tops them all, it’s undeniable that money fights permeate most if not all marriages, especially when a big bill blindsides a couple. The lesson here is simple: Preparation for unexpected medical costs matters. Here’s how you can get your finances in order before trouble strikes.
Use a health savings account
The Health Savings Account (HSA) is a tax-advantaged funding source that helps you save up for medical expenses. Contributions are tax-deductible and withdrawals for qualified medical expenses are tax-free, so you’ll save money the instant funds leave the account to pay a bill.
The contribution limits for 2023 are $3,850 per individual and $7,750 to cover your family, according to the IRS. That’s up from the $3,650 and $7,300 thresholds in 2022. The HSA can be used not only to help you save money for short-term health expenses but also to build a cushion over time.
That’s because you can actually invest HSA funds in stocks and bonds. But of course you’ll always discuss these options with a trusted financial adviser before setting up an account.