Your Most Expensive "Emergency"?

[CaliKid]

And those who totally lack a sense of humor don't get it and often think even a good-natured attempt at humor is a personal affront.

Actually I thought you meant breast implants...

+1

 

[scrabbler1]

Following my 12-day hospital stay last July, I quickly hit my max OOP amount of $6,250 as set in my ACA Silver plan. Most of it came from the hospital bill, but the rest of it came from doctor bills and some prescription drug charges.


I expected to have to tap into my "Tier 2" emergency fund which is the limited-term muni bond fund containing about $40k because my $750 surplus in my local bank's checking account would not nearly provide enough. However, due to some delays in receiving the hospital bill compared to when they first told me how much I would end up owing (confirmed by the insurance company's EOB), I was able to build up some cash surpluses between late July and late December, when the bill finally arrived. I also received a 10% discount of nearly $500 off the amount due thanks to the hospital's "early payment" program. Taken together, I was able to pay the hospital bill without having to tap into that "Tier 2" emergency fund. Paying the bill before 12/31/2015 enabled me to take a tax deduction on my 2015 federal and state income taxes instead of waiting another year to take it.


Still, it was a costly emergency but I am in far better health today than I was a year ago at this time It was worth every dollar.

 

[Marita40]

I'm surprised that there aren't more mentions of pet costs here. The two largest unexpected expenses (emergencies I guess) that have come my way are dental costs (a childhood of many cavities now means many root canals and crowns; implants may well be down the road) and cat care as my two get older (one has continuing hyperthyroid issues and diabetes).

 

[HadEnuff]

I'm familiar with dental implants but not a wife implant. Did you have it placed in your head, neck or posterior?

Well, if they ever come up with husband implants I hope my wife doesn't learn about them. I'm on thin ice as it is.

She'd probably like one that works.

 

[papadad111]

In the past 17 or so years of adult life, I can't say I've ever had an emergency (a sudden and completely unexpected expense) over a couple hundred dollars. Getting pickpocketed, losing something or breaking something. Sick kid. Guess we've been lucky (or somewhat skilled at planning and at avoiding situations that lead to emergencies).

Some is likely good planning. Some peoples emergency is someone else's well planned and tracked expense...

But ... life happens ...

Illness can crop up out of no where for even the best and most purposeful planner.

With kids at home (especially teenage boys) I find myself very often shaking my head in disbelief that they did WHAT... And being glad I have some cash handy for such "emergency" situations.

Perhaps now I'm programmed like Pavlov's dog on the kid related events and surprises.

It doesn't even phase me now and when the sentence starts with "papa. You're never gonna believe what just happened ". I remind myself that yea, here it comes.

DS1 totaled his car last week - on first day of being home for the summer - just as an example ...

New normal, the economists call it. Love those kids but sure hope normal grows up, eventually...

 

[ExFlyBoy5]

For example, we're going to need a new water heater in the next 1-10 years and it'll have to be a more expensive tankless model to get the install up to current building codes. That'll be $2400-3200 depending on method of installation.

I know some building codes can be quite onerous, but I have never heard of *having* to use a tankless model in order to meet said code. Can you elaborate a little bit? Just a little curious...

Good point on the pet expenses. We have 4 furry animals (two that are geriatric) and last year we spent nearly $3K on them and this really didn't involve any BIG medical emergencies for them. AND...this is using a vet that has been a family friend going on 50+ years and with a pretty good discount. I could see that something pet related could REALLY get expensive VERY quickly.

 

[Amethyst]

If it's your money, nobody has the right to tell you you "should have" or "should not have." I'm amazed they can even cure dog cataracts. Was his vision saved?

Mine was an emergency to me but many people say I should have let my dog die.

My pooch developed dog diabetes which led to him going blind with cataracts.
7K for the cataract surgery and insulin.



I am such a pet mom

 

[Amethyst]

Members who have endured the tragic loss of their own children have all my sympathy, double. I do not see how a parent can ever get over that.

 

[MichaelB]

If it's your money, nobody has the right to tell you you "should have" or "should not have." I'm amazed they can even cure dog cataracts. Was his vision saved?

Members who have endured the tragic loss of their own children have all my sympathy, double. I do not see how a parent can ever get over that.

Totally agree on both counts. Lots of difficult situations and powerful memories are evident in this thread.

 

[athena53]

The past year was just FULL of surprises.

Selling old house: DH noticed that the basement drain was running slowly. Cost to ream it out with jackhammer: $3,000.

New house: one week after moving in we got a note that we had to have the backflow valve on our sprinkler tested. It failed. Cost to replace : $2,000. (I've since been told that was way too much.) We also knew that the HVAC system was 20 years old. Sure enough, furnace needed to be replaced last fall and A/C this spring. I have to say, though, utility bills are way down compared to the previous house, which was bigger and had older HVAC. The good news is that we LOVE this house. Roof is 2 years old and has a 50-year warranty so at least we don't need to worry about that.

I have a dental bridge that's about 10 years old and they don't last forever. When that goes, I'll get an implant. Expensive, but I love the ones I already have.

 

[braumeister]

I had one about 15 years ago. Went out one morning to get the newspaper and noticed a small geyser spurting up in the lawn.

The pipe between the water meter (near the road) and the house had burst, so it was all my responsibility. About 150 feet of plastic pipe that I had to suddenly get replaced with copper pipe. Had to write a very unexpected check for over $6,000 that day.

The good news is that the pipe manufacturer had settled a class action lawsuit a few years before, and I was able to find out about it from an internet search. I filed a claim and got about 90% of the cost reimbursed from the settlement fund.

 

[Big_Hitter]

Members who have endured the tragic loss of their own children have all my sympathy, double. I do not see how a parent can ever get over that.

they don't - my parents never have

 

[Dash man]

Divorce followed by loss of job. Happened in the mid 90s and put me in a tough place. No comparison to the loss of a loved one, but was a prolonged financial burden that took years to recover from. Couldn't begin to put a dollar amount on it.


Enjoying life!

 

[kcowan]

Not an emergency but finally got around to replacing all appliances in our snowbird condo after 20 years. GE Profile gas stove, fridge, dishwasher and clothes washer. All good now for the rest of our lives.

On teeth, we spare no expense. Bacteria in the mouth can make the whole body sick! Both of us have gone through renewal in the last two years. The theory is that this is an investment that should last the rest of our lives.

All in all, less than a new car. Going to be driving that 2008 for a few more years.

 

[Big_Hitter]

On teeth, we spare no expense. Bacteria in the mouth can make the whole body sick!

yup, (at the risk of being called "rich" again) which is why we are big on dental care, both preventative and emergency

 

[W2R]

On teeth, we spare no expense. Bacteria in the mouth can make the whole body sick! Both of us have gone through renewal in the last two years. The theory is that this is an investment that should last the rest of our lives.

Besides, who really wants to be missing a tooth? Whether or not others notice it, to me a missing tooth feels like my hand just fell off or something. I'm not whole. So, my oral surgeon is happy to cooperate by doing implant surgery and my dentist is equally happy to put crowns on the implants.

Honestly, I'd figure out how to afford this even if I was poor, which I'm not. Likewise, I'd figure out a way to afford a prosthesis if my hand fell off at the wrist, no matter the cost.

Caveat: I have one implant already, and another one is in the process of being done and should be finished in July. A third tooth will be replaced by a bridge attached to the other two implants that are next to it. My mouth is a construction zone at present.

I have always had bad teeth, and budgeted for dental care in retirement, so in that sense dental work is not unexpected. However, recent advances in implants have made this much more expensive procedure something that I unexpectedly need to pay for sometimes instead of a bridge.

 

[RE2Boys]

All this fuss about a missing tooth, I had a tooth removed when I was 19 as family didn't have the money to put a cap on it. Never been a problem in 47 years. But I would not want to lose another one in that quadrant.

But did spend $1200 last year on a double crown (one piece over two teeth). Not sure what I'd do if faced with an implant situation, maybe just leave a gap.

 

[MoneyCat]

When we bought our house three years ago, the furnace failed only a few months after purchase. The previous owner thought he was Mr. Handy and he rigged up a dehumidifier that sent the water directly into the furnace and rusted the thing right out. We ended up replacing the furnace with a brand new 98% efficient Carrier unit at a cost of $10,000. We could have sued the previous owner over this, but that would have taken months -- if not years -- and cost us even more with all the legal fees.


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[Big_Hitter]

When we bought our house three years ago, the furnace failed only a few months after purchase.

that's why I like home warranties....but there is another thread on that topic

 

[ExFlyBoy5]

When we bought our house three years ago, the furnace failed only a few months after purchase. The previous owner thought he was Mr. Handy and he rigged up a dehumidifier that sent the water directly into the furnace and rusted the thing right out. We ended up replacing the furnace with a brand new 98% efficient Carrier unit at a cost of $10,000. We could have sued the previous owner over this, but that would have taken months -- if not years -- and cost us even more with all the legal fees.


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And you would have most likely lost. Unless the previous owner attempted a repair and tried to hide it, you would probably be out some legal fees. Now...if you have a home inspection and your inspector SHOULD have seen it...then that's a different case.

 

[FI by 2024]

I'm with those who really haven't had emergencies. I've had some $700-$1000 expenses, but all stuff I knew would happen eventually and had budgeted for. I've also given large ($3,000-$12,000) grants to people that I've paid within a couple of days of being asked, but those were funded from an account I keep specifically for that purpose and I don't consider them emergencies. Yes, I have an account funded exclusively to give to family and friends in need. I've actually never used my emergency fund (I'm one of the recent OPs asking about the necessity of EFs).

Bclover, I'm with you on being a pet mom. My dog is my baby and I'd do whatever it took to keep him with me, unless doing so would cause him harm or diminish his quality of life. I paid for a small elective surgery for him recently and didn't bat an eye at the cost, which really surprised my vet. It's funny to me that people will spend hundreds of thousands to keep humans alive but think I'm weird for paying a few hundred a year to keep my dog healthy. Would I pay as much to save him as, say, my mother? Of course not. But a few thousand over a 10-15 year lifespan in exchange for a loyal companion is a price I'm willing to pay any day.

 

[ERD50]

When we bought our house three years ago, the furnace failed only a few months after purchase. The previous owner thought he was Mr. Handy and he rigged up a dehumidifier that sent the water directly into the furnace and rusted the thing right out. We ended up replacing the furnace with a brand new 98% efficient Carrier unit at a cost of $10,000. We could have sued the previous owner over this, but that would have taken months -- if not years -- and cost us even more with all the legal fees.


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You probably could have saved a lot by going with a somewhat lower efficiency unit. The savings are incremental once you get into the (now) basic ~ 92% furnace. I doubt 98% versus 92% would pay for itself over the life of the unit, unless maybe you were in a very cold climate.

Now in the old days, going from the plain-jane 55% furnace to an 85% unit (main difference being a draft inducer fan which allowed the use of a more advanced heat exchanger) would make a big difference in the gas bill, and they aren't all that much more expensive.

-ERD50

 

[GravitySucks]

I guess you could catagorize this as an emergency.



$25,000 for daughter's funeral expenses. She passed away unexpectedly at 22 years old, one month from finishing college. She had no student debt as we paid for the four years and she had a job.

So sorry for your loss. I'm sure the expenses were the least of the issues.
God Bless

 

[FUEGO]

Some is likely good planning. Some peoples emergency is someone else's well planned and tracked expense...

Illness can crop up out of no where for even the best and most purposeful planner.

I'm hoping our $0 deductible, $500 max OOP insurance plan will mitigate most illness or injury related costs (but sure, there might be out of pocket expenses not covered by insurance).

DS1 totaled his car last week - on first day of being home for the summer - just as an example ...

Here's a buck twenty five for the bus fare on the way to your newly acquired job to help you pay for your new car?

 

[FUEGO]

I know some building codes can be quite onerous, but I have never heard of *having* to use a tankless model in order to meet said code. Can you elaborate a little bit? Just a little curious...

I could probably do a separate thread about it. Basically, the current water heater replaced the original lowboy one installed in 1972. The current one is very tall, and the exhaust piping doesn't have adequate room to go up and out, so it goes over with a slight down slope then back up and out. Also not a 3' clearance between the exhaust outlet on water heater up to first combustible material on house.

Other solutions would be:
-an electric water heater ($$$ operating costs over the years probably plus probably some electrical work to get a new circuit w/ adequate amps over to the WH - this would be cheaper initially than the tankless install but probably cost an extra $20-30/mo to heat the water at least while the kids are in the house)
-a gas water heater installed inside the house in a newly built utility closet ($$$ to remodel, loss of square footage inside; still have to exhaust somewhere; my understanding is that combustion steals your air conditioned or heated air inside the house which equals higher heating/cooling costs).
-tankless - could be installed lower on the crawl space wall and vented out the side of the foundation wall or installed outside (but plumber said the elements will be harder on it).

I'm very curious about a cheaper alternative than what I've mentioned.