Medium-long term savings for dental needs

Post date: 2021-03-02 07:38:46

My son has an inherited dental condition that will need a lot of work in the future. I want to start putting money aside specifically for it. What's the most advantageous way to save for this?

My son is about to turn 3. He doesn't need anything right now, but major expensive things will definitely be coming down the road, culminating in porcelain crowns on all his adult teeth. So, in 10-20 years he will definitely need a lot of expensive work done (~$50,000 in 2021 dollars), and he may need some before that.

Health insurance doesn't cover it. I have the condition too and had looked into it as I've had to shell out the same money for myself.

We will be able to contribute a little bit now, but when he's out of daycare and in school in a few years, we'll be able to put a lot more aside.

I've googled "medical savings account" as I figured there must something, but nothing that I think applies to us. We're not self-employed, don't have Medicare or an HSA. Is there anything for this or do we just need to suffer with a low-interest savings account?

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