Medical Emergency Fund Calculator

Define Your Medical Emergency Fund Goal

Currency Symbol:

Use these prompts to think about potential costs. This information will help you set an informed target amount below.

I have health insurance I do not have health insurance

If insured, consider these figures (enter 0 if not applicable):

Annual Deductible (Individual):

Annual Deductible (Family):

Out-of-Pocket Max (Individual):

Out-of-Pocket Max (Family):

Co-insurance (% you pay after deductible):

Notes on your insurance coverage (e.g., what's excluded, specific co-pays):

Notes on estimated costs for common procedures/hospitalization in your region (for your own estimation):

Number of people this fund should cover (incl. yourself):

Known/Ongoing Health Conditions (that may incur regular/higher costs)? Yes No

Months of income replacement needed (if unable to work):

Essential monthly living expenses (for income replacement):

Notes on other potential costs (travel, lodging, extra childcare, etc.):

My Target Medical Emergency Fund Amount:

Consider your insurance out-of-pocket maximum, potential lost income, and other notes from section A to set a realistic goal.

Current Amount Saved for Medical Emergencies:

Planned Monthly Contribution to This Fund:

Your Target Medical Emergency Fund: N/A

Your Current Medical Savings: N/A

Amount Still Needed: N/A

Estimated Time to Reach Goal: N/A

Covers costs not paid by insurance (deductibles, co-pays, non-covered services).
Provides for living expenses if you can't work due to illness or injury.
Reduces stress during a medical crisis by having funds ready.
Prevents derailing other financial goals or going into debt.

Set Realistic Goals: Start with a smaller, achievable target if your main goal seems far off. Every bit helps!
Automate Contributions: Treat it like an essential bill. Set up regular automatic transfers to your fund, even if small.
Use a Separate Account: Keep this fund in a dedicated, easily accessible (liquid) high-yield savings account. This separates it from daily spending and helps it grow.
Review & Adjust: Re-evaluate your target amount annually or after major life changes (insurance, family size, health diagnosis).
If Uninsured: Saving is critical. Research local costs for common medical needs to inform your goal. Consider options for obtaining coverage if possible.