How To Choose The Best Healthcare Plan (2022!)
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- čas přidán 28. 06. 2024
- How To Choose The Best Healthcare Plan
Need help decking between health insurance plans? We’ve got you covered on PPOs, HMOs, and HDHPs. Open enrollment for most companies starts in November - this video will help you understand the different types of healthcare plans.
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🕒 TIMESTAMPS 🕒
00:00 -- Intro
00:45 -- Open enrollment
01:12 -- Healthcare overview
03:05 -- HMO
03:45 -- PPO
04:55 -- FSA
05:43 -- HDHP
07:00 -- HSA
09:27 -- Which plan is right for you?
11:43 -- How to estimate medical costs
✍️ HELPFUL LINKS ✍️
✦Learn more about Wealthfront 👉 bit.ly/3DHpA5e
✦Check out our blog on this 👉 blog.wealthfront.com/high-ded...
Sources
www.investopedia.com/terms/h/...
www.investopedia.com/terms/h/...
www2.healthequity.com/Investi...
Disclosure
The information contained in this communication is provided for general informational purposes only, and should not be construed as investment or tax advice. All investing involves risk, including the possible loss of money you invest, and past performance does not guarantee future performance. Wealthfront Advisers and its affiliates do not provide tax advice and investors are encouraged to consult with their personal tax advisors to discuss tax-related matters specific to their situation. Investment advisory services are provided by Wealthfront Advisers LLC, an SEC-registered investment adviser, and brokerage products and services are provided by Wealthfront Brokerage LLC, Member FINRA/SIPC.
Health insurance is such a scam.
🫢
Cannot agree more. They kept on rip us off on multiple dimensions
@@pooploops What are PBMs?
@@pooploops what's pbms?
@@emilyboyer9211 pharmacy benefit managers
The fact you have to spend a certain amount before the insurance covers anything is insane
Yeah, but there is gap insurance to cover the out-of-pocket costs.
Health insurance should be free to everyone like other countries do.
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Nothing in life is free. Unless your a leach on Society.
Its not free, its called "taxes" this is how all those other countries do it.
@@rjgreen42 Yes and they spend way less per capita
American system is good for them. Pay more, but at least you get the satisfaction of not being obliged to pay for the care of your fellow man.
THANK YOU!!! I was overwhelmed but your video laid everything out so clearly. Life saver!
Thanks, I’m glad it helped 🙌
Thank you I needed to understand this different things about insurance to get what is best for me. The other videos weren’t helpful like this one.
Thanks! Glad it was helpful.
this is what we all need when getting health insurance! thanks for the help!
Thanks for watching!
Thank you! You broke it down very well making it easier to understand everything.
Thank you!
Thank you so much for letting me express my feelings about your post. You record every blog post so well. Keep the hard work going and good luck. Hope to see such a beneficial post ahead too.
Thanks for watching!
Insurance in US is harder to understand than quantum mechanics
Tony, thanks so much for this video! You broke this down Barney style for me.
It is a great video thanks for the great information and well delivered. This is exactly what I was looking for.
One of the best videos on the topic thanks! New job soon so I need to consider which plan to pick.
Thanks! Glad it was helpful 🙌
Thank you so much for this. Very helpful.
Another invaluable channel, will definitely explore more videos from you, sir.
Thank you 🙏
Thank you so much for this informative video. You explained so well and I am no longer confused. Thanks for making so easy to understand.
Thanks for watching!
Thank you a lot for this video. This is very interesting and informative. Keep posting like those amazing videos, this is awesome.
Appreciate this info👍🏽
Very helpful- Thank you sir!
amazing! much needed thank you
Thanks!
Thanks for enlightened me
this was really helpful thank you
I am recommending this video to all of my friends. This video is so good and simple! Thank you!
thank you!
Great video!! Very informative. Thank you!
Thanks for watching 👋
thank you! you explained this very well :)
Thanks for watching!
Excellent - I finally understand Health Insurance a bit more :)
Helpful guide for navigating healthcare options!
Thanks
Great video thank you! Can you explain in network and out of network?
Thanks, glad it was helpful!
When a doctor, hospital or other provider accepts your health insurance plan we say they're in network. We also call them participating providers. When you go to a doctor or provider who doesn't take your plan, we say they're out of network.
Thank you for this!!
🙌
great video bro
I appreciate the basic knowledge !
Wow this was so helpful!
🙏
Such a great explanation!
Thank you!
Thankyou very helpful
🙏
great breakdown
thank for your sharing
Thanks for watching!
Good job covering the basics! Please note that HSA participants pay an in network allowable amount, not the full billed amount 😊
this literally sounds like a SCAM .......u have to pay this, oh wait u gotta pay this now, oh now u need to pay this before we help, oh but u can't use those places just these, of sorry we don't cover that, IT NEVER ENDS. and in the end u continue to pay wtf. WHY DO WE ALLOW THIS
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My heart goes out to senior citizens who shouldn't have to decide between food or their medicines....
@lizjo7213 what about me I'm barely 30 lmao
Great video, very informative!
Thanks!
Indeed
HOW AM I SUPPOSE TO KNOW WHETHER OR NOT MY HEALTH WILL DECLINE
It’s a fun game health insurance companies wanna play
Thank you! But gosh I'm still unsure. There's only $1,000 out of pocket max difference between our high(no deductible) and base plan(deductible 1,500). The high plan would be a bit over $5000 more a year in premiums. Wouldn't it make sense to pay less in premiums and if we get really sick, just reach the max out and then all is covered? Thanks!
If you have a solid emergency fund (6months worth of savings) to rely upon, in your case it might make sense to choose the HDHP. Thanks for watching!
I am a fairly young type one diabetic (28/male) who see's my endocrinologist probably 3-4 times a year. I am well controlled and only use my insurance mainly for those visits and to get my medication (insulin,pods,cgm). Should I get the HDHP plan or stick with the PPO plan. HDHP is $29 versus the PPO being $123 biweekly (saving $200 monthly seems like a lot to me, but not sure how this will affect my costs). Not sure if theres a bigger discounts on my medication or how it will affect my visits
Very imformational
Thanks!
What about alternatives to traditional health insurance like healthshares, short term insurance, and members clubs like CYA?
What would be the best insurance epo or ppo for which scenario is one begter
thank you
Thanks for watching 👋
Looking for healthcare for my girl friend this was very helpful !
Thanks! That’s great to hear.
I went to the emergency room in nov 2020. My blood sugar was too high for the machine at drs care to read. I was misdiagnosed in the ER as a type 2 diabetic. In dec of 2020 I was tested for antibodies and it turned out I was a type 1 diabetic. Because I was so unprepared I am still paying off my ER bill. Last year my company switched insurance to Aetna and started using their simplepay program. Its been an absolute nightmare and has been flat out horrible.
This year we just got our open enrollment emails. They kept the aenta simple pay, but have now added a PPO type option and a HDPD option. Im trying my best to research with option is the best for me. I feel like im trapped between choosing 3 crappy options and im so stressed out. I feel like making the wrong choice could absolutely blow up my finances. Insulin isnt cheap.
Sorry to hear this!
people needs to remember this is an American problem. Many other developed countries aren't like this. this needs to change.
@@AZ-ht7vy Saying this often does absolutely nothing to help us. Also, those countries have higher taxes which Americans can't afford and whatever happened to Obamacare that was supposed to help? Saying other countries have it but don't mention their wait times, their unwillingness to treat certain conditions and Americans paying for the defense, misses the mark. This also doesn't help us as if we can change it. And yes, I know thie comment is old.
"A plan is considered high deductible if it's over $1,400." Me with a $6,000 deductible at 23 years old. 😅
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I just don't get it. I can't find any plans that are less than 25% of my monthly budget? like how can i afford to take care of my health when I can't even survive if I pay for iy
Sorry to hear that - hope you can find a plan that’s better for you.
Thanks Tony, very helpful 👍🏼
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What health insurance would be the best for me , i see a therapist weekly, do physical therapy weekly, and have lots of prescriptions
You helped me understand health insurance plans and the lingo a little bit better. But the fact that it is still confusing is what makes America the worst!
Thanks for watching!
I lose my parents insurance in July. Will it be impossible to get health insurance in the middle of the year like that?
This video needs more likes, comments and subscribes.
Can’t say I disagree 💪
When will Wealthfront start offering HSAs?
We don't have any plans to do so but never say never! Sorry!
I think I understand the high deductible now. Basically no one can actually afford health insurance so you pay low premiums and then will pay everything else out of pocket. If you get a major illness then a $10,000 deductible is a discount if you owe millions or hundreds of thousands of dollars.
Another way to look at HDHP-you can set aside tax free savings to invest for future healthcare expenses.
So if I have a visa for more than 6mths and want private medical, I still need to pay the $81 /mth for public regardless if it’s used ? So it’s a tax?
Well I choose the low out of pocket cost so Hopefully I get really sick next year to take advantage of it. I will start to eat Wendys everyday
Frosties for LIFE
I am intended to go Germany for masters studies and age 40. is that for German heath insurance plan?
So at the beginning of the year when people are picking up their prescriptions, they're paying their deductible plus a copayment?
They typically aren't paying in full for it. For example, many health insurance plans cover 80% of the cost, meaning you cover 20%. This 20% adds up until you meet your deductible.
tqq
What would you recommend for someone who is young, relatively healthy, but does regular physician and dental visits and pays for monthly medication? I feel like following your explanation, I should pick a higher premium with a lower deductible, but I am still scared to make a stupid decision...
That’s hard to say but you could compare the two options you have, estimate the visits you expect in the next year, and compare how much each plan would cost you side by side.
Good question
Im paying $750 prem for $1700 deductible and $9k max
Does this apply to Canada?
As far as we know, no.
I have a question I don’t even know how this works is hard for me to understand I’m young I’m 20 and I need to go to the dentist but they are charging me 2,000 dollars I don’t know what health plan to choose what would be a great plan to choose some one please answer with some help thank you !!!!!!! 7:28
Hi it depends on the deductibles and how often you may visit a doctor.
Keep voting R.
It's so complicated do I need to get a degree in this to see a doctor? I have a POS II. So as complex as this video is it didn't even cover my situation. This whole industry smells like scam
Move to 🍁.
I believe hsa is only for self employed?
My employer offers several different plans that have HSA option. I'm in California if that matters.
I have a quick question
How can we help?
Do not-in-network expenses get covered after the out of pocket max?
If it's a covered service, your plan is likely to cover out-of-network services after the out of pocket max is met. You should confirm that with your specific plan.
What a mess.. Could they make it any more complicated?
Health service in the USA is ridiculous. The quality is one of the best on results but the obstacles to reach it makes people not to be able to have it. What's the point of having the best doctor in my neighborhood if I can't afford it and he will do nothing if I can't afford it....
Health should be something that people get as a human right or a supported need which is affordable to help them live better and recover not something they get as luxury necklace which is worn only by the ones who can afford it.....
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💀 *THEY DIDNT TEACH US THIS IN SCHOOL* ….
& I never calculated to find X or Y in real life 1 time …
Man this seems like a decent video, I couldn’t stick with it and try to listen to what he was saying because of the background music being so loud Donk Donk Donk. Lose the bass and I would love to watch this video. Be well.
Thanks, appreciate you watching what you did and providing that feedback!
I didn’t even notice it. I guess different people are sensitive to these kind of things
definitely could've used more visuals and mapping out what he was talking about instead of just looking at his face in a circle in the corner
You need Phd to understand them, well thinked
sooo what is best for an 18 year old male🤧
If you don't anticipate having many medical expenses, it's likely going to be the HDHP. Make sure you build up that HSA while you're at it!
Procrastination in collecting payments might end up the healthcare companies to bankruptcy!
You never know maybe your patients will die tomorrow and they can no longer pay! Then you ended up “I wish I have collected the money on the spot”!
The service now pay later is a scam!
😂😂😂
its difcult i casn understand your video
Thanks for watching! Subscribe to our channel here: czcams.com/users/wealthfrontvideos
I'm scared because I have got hit with the Obamacare tax penalty in 2021 and 2022 for not having health insurance, mostly because I just don't have the budget for it but I'm a little confused on what to purchase. I pray God simplifies these issues and problems in the name of Jesus Christ. Amen.
This is incorrect, penalties have been removed. You didn't calculate income for subsidies, correctly. Happens.
health care is better up here in Canada then in the USA because Canada has government health care, with private health care like in the USA , lots of money is wasted on advertising , when that money could be better spent to give someone health care that desperately needs it. if you live in the USA and you are trying to choose the best health care the choice is easy , move to Canada. American health care sucks.
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So CONFUSING JESUS AND WHY DOES IT COST SO MUCH????
Just get to the details 1:13
Thank you a lot for this video. This is very interesting and informative. Keep posting like those amazing videos, this is awesome.
Thank you! Please share with your friends 🙏
Health insurance should be free to everyone like other countries do.
🙌