Liz Weston

So get a cup of coffee and get out your plan options, and we'll see if we can help you sort it all out. Today, it's healthcare. Episode two, we're covering all kinds of other insurance, including disability. And episode three, we're talking about vision, dental, pet care, and more. I mean, how bad can it be? We're talking about benefits.

Well, we're going to lead off with health insurance because that is the biggest challenge for most people in terms of the breadth of options to choose from and the math they have to do to figure out what's best for them and their families. And for this, we're going to talk with our fellow nerd, Kate Ashford.

Well, we're going to lead off with health insurance because that is the biggest challenge for most people in terms of the breadth of options to choose from and the math they have to do to figure out what's best for them and their families. And for this, we're going to talk with our fellow nerd, Kate Ashford.

Well, we're going to lead off with health insurance because that is the biggest challenge for most people in terms of the breadth of options to choose from and the math they have to do to figure out what's best for them and their families. And for this, we're going to talk with our fellow nerd, Kate Ashford.

She's written about health insurance for years, and she's a certified senior advisor who covers Medicare and retirement topics for NerdWallet. Kate, so glad you could join us on Smart Money.

She's written about health insurance for years, and she's a certified senior advisor who covers Medicare and retirement topics for NerdWallet. Kate, so glad you could join us on Smart Money.

She's written about health insurance for years, and she's a certified senior advisor who covers Medicare and retirement topics for NerdWallet. Kate, so glad you could join us on Smart Money.

So when you hear the words open enrollment, what happens in your brain?

So when you hear the words open enrollment, what happens in your brain?

So when you hear the words open enrollment, what happens in your brain?

Yeah, for me, it's basically a trigger to run away to Europe for a month or two to avoid the whole thing. But all jokes aside, this is serious business and incredibly complex, so let's start with some of the real basics. We hear these terms all the time, but it doesn't mean that we really understand them. So Kate, how about explaining premiums and deductibles for us?

Yeah, for me, it's basically a trigger to run away to Europe for a month or two to avoid the whole thing. But all jokes aside, this is serious business and incredibly complex, so let's start with some of the real basics. We hear these terms all the time, but it doesn't mean that we really understand them. So Kate, how about explaining premiums and deductibles for us?

Yeah, for me, it's basically a trigger to run away to Europe for a month or two to avoid the whole thing. But all jokes aside, this is serious business and incredibly complex, so let's start with some of the real basics. We hear these terms all the time, but it doesn't mean that we really understand them. So Kate, how about explaining premiums and deductibles for us?

And this is really like a seesaw, right, in that most plans either have higher premiums that you pay monthly or high deductibles that mean you're paying a potentially higher bill if you end up using a lot of your insurance. So how do individuals and families go about deciding which part of the seesaw they should be on?

And this is really like a seesaw, right, in that most plans either have higher premiums that you pay monthly or high deductibles that mean you're paying a potentially higher bill if you end up using a lot of your insurance. So how do individuals and families go about deciding which part of the seesaw they should be on?

And this is really like a seesaw, right, in that most plans either have higher premiums that you pay monthly or high deductibles that mean you're paying a potentially higher bill if you end up using a lot of your insurance. So how do individuals and families go about deciding which part of the seesaw they should be on?

This always feels like such a hard thing to figure out because you're almost being asked to predict what's going to happen to your health in a given year. If you feel like you're healthy, you might take the higher deductible thing thinking you'll never have to pay it.

This always feels like such a hard thing to figure out because you're almost being asked to predict what's going to happen to your health in a given year. If you feel like you're healthy, you might take the higher deductible thing thinking you'll never have to pay it.

This always feels like such a hard thing to figure out because you're almost being asked to predict what's going to happen to your health in a given year. If you feel like you're healthy, you might take the higher deductible thing thinking you'll never have to pay it.

But then you have some sort of a health crisis or an accident and suddenly you're on the hook for all of it before the insurance kicks in. Is that a fair assessment?