coins behind glass with words In Case of Emergency Break Glass The reason emergency funds exist is to provide financial support in the case of a significant unforeseen expense, and health care costs are one of the top expenses most people will face. (Photo: Shutterstock)

If there were a financial 10 Commandments, establishing an emergency fund with three to six months’ worth of living expenses would be near the top. Most experts will tell you this is a critical requirement for overall financial health and well-being.

What far fewer people are talking about, though, is the importance of creating a separate emergency fund earmarked for potential health care costs. By using health savings accounts, or HSAs, as dedicated medical emergency funds, savvy savers can take advantage of unparalleled HSA tax breaks and save big money on the health care costs they incur.

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