If that was put in a savings account and used for health expenses, is there anyway it wouldn't be a better option? By the time something bad happens, statistically, there should be a fair bit of cash there. It's worth noting that I'm not in the US, and while I know care is expensive in the US, I may be under estimating it.
That's unbelievable - my wife had our child at no financial cost other than taxes and had a terrible experience. If we had used an obstetrician that we paid for out our pocket and she had a Caesarian (I only we had taken that option) it would have cost US$2500 - that's all inclusive with pre birth and post delivery visit and checks. New Zealand.
A friend of mine that had insurance cut off his thumb a few years ago; all told the bill to him ended up being around $80,000. It is unfortunate, but you can't really just save and hope that a tragic thing like that won't happen - it is possible.
