Mambi (Momby) Arthur-Price
speaker
48 appearances
1 recordings
1 series
first heard Nov 2023
last heard Nov 2023
Mambi (Momby) Arthur-Price’s voice in public audio — every appearance, attributed to the second.
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Appearances
One of the biggest mistakes I see is overbuying a plan, making the choice of taking the most expensive plan, thinking this is the plan that's best for you.
So now you've spent all this money on premiums and you only went to go see the doctor twice.
One of the things that people should be considering for this upcoming open enrollment season is number one, looking at their flexible spending account.
Flexible spending accounts as it relates to dependent care or health care benefits are one of the ways that you can use pre-tax dollars to actually save money when going to the actual doctor.
Another thing that you should think of is looking at your health care savings account.
If you're in a plan that's a high deductible health plan, this is a plan that is beneficial to you because you can continue to use those monies within those accounts, whether you leave the company or not.
Whereas the flexible spending accounts, if you don't use them, you lose them.
When we think about considering day-to-day healthcare, you want to definitely do your annual physical.
Within all the plans throughout the United States, it is free to get your annual physical.
If you've got any upcoming expenses, you want to budget that in now for next year.
And again, take advantage of the flexible spending account.
or the healthcare savings account.
So you can decide which plan actually works best for you, whether it be going into a more fully funded plan, meaning if you are actually going to have to pay more out of your pocket on the front end, then you might want to consider that versus paying a little less out of your pocket on premiums and then putting that money into a healthcare savings account.
Absolutely.
It's a huge factor because, again, inflation is a very real thing these days.
And as we all know, money's tight.
And if we know that we've got a health care issue, you definitely want to consider planning for some of those procedures ahead of time.
It's definitely a challenge and it is a hit or miss.
And that's why I tell folks to if you are going to the doctors regularly and if you know that you're fairly healthy, you may not want to buy into that plan that's costing you $400 a month.
You want to look at the plan that really is going to give you the best bang for your buck.
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