Paying for unexpected medical emergencies can be overwhelming, especially when the insurance won’t cover their part of it. A recent caller on The Ramsey Show asked hosts Dave Ramsey and George Kamel a pressing question regarding finances and her health.
Ann, from Phoenix, Arizona, asked, “Is it worth dipping into our emergency fund while we fight insurance to make sure I’m okay medically?”
Don’t Miss:
Ann explained that the doctors think she’s having an ectopic pregnancy. This life-threatening condition occurs when a fertilized egg implants outside of the uterus, a location where it won’t be able to grow and develop properly. Ectopic pregnancies require immediate medical attention to prevent serious complications.
Ann’s husband wants to dip into their emergency fund to cover the cost of the ultrasound rather than wait for insurance approval – which they’ve already been fighting for weeks. As someone who has struggled with impulsive shopping in the past, Ann has a hard time spending money and is wondering if the financial strain is worth paying out of pocket.
“Well, I think your husband is 100 percent right,” Ramsey said. “What are you, a navy seal? You don’t think you need to do this? You need to take care of yourself, girl.”
See Also: It’s no wonder Jeff Bezos holds over $70 million in art — this alternative asset has outpaced the S&P 500 since 1995, delivering an average annual return of 11.4%. Here’s how everyday investors are getting started.
Kamel agreed, stating that is exactly what an emergency fund is for. And while Ann agreed with their sentiment, she was upset about the insurance not doing their part and said that it should be on them, not her.
“I think it’s your problem,” Ramsey said. “You’re sick.” He told Ann to keep fighting the insurance but emphasized that using the emergency fund is what she needs to do to take care of herself now.
Ramsey also pointed out that Ann could still explore ways to minimize costs. He encouraged her to ask providers about cash discounts, stating that many providers offering services like the ultrasound she needs provide discounts to those who aren’t using insurance.
Kamel recommended the app Billy (not affiliated with The Ramsey Show), which allows users to compare prices for medical procedures by typing in a CPT code. Transparent pricing tools can be valuable for finding affordable care without sacrificing quality.
