I just opened a second ING account for medical savings. I have lots of things coming up to pay for, new eyeglasses in January, eye exam, sometime next year I need a crown, not to mention whatever tests need to be run for my heart. This month was the first that I didn't have to use the money allocated in my budget for 'medical'. Ok, let me rephrase that, this was the first month I didn't have to use any money aside from my regular medications.
So it occured to me that instead of leaving it in my checking account where I can 'borrow' from it, I should move it to a savings account. But not my emergency fund because I want to keep it seperate.
The plan as it stands right now is if I have a dr apt that month, I'll keep the budgeted money in my checking account until after the apt. Spend whatever I need to up to the budgeted amount and whatever is left over, if anything, gets transferred to the medical savings account. If I don't have a dr apt that month, anything not going to medications gets transferred to the account. That way when I finally get a bill for tests and the like, I have some place to draw from.
I waited til after my dentist apt today to actually open the account. My cleaning was covered 100% but I didn't know if I was due for XRays or not. I wasn't. So the account has been initially funded with $100. Since I haven't seen anything from my ins yet about the Echo I got in July, I doubt I'll get a bill from the clinic this month.
Medical savings.
November 9th, 2006 at 09:34 pm
November 9th, 2006 at 10:10 pm 1163110240
November 10th, 2006 at 01:27 am 1163122045
November 10th, 2006 at 05:45 am 1163137500