Why your health insurance is so expensive
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Why are health insurance premiums increasing this year?
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What factors contribute to rising healthcare costs?
That's why over thousands of businesses have made the switch. So why not you? Try Odoo for free at odoo.com. That's O-D-O-O dot com. Support for this show comes from Odoo. Running a business is hard enough, so why make it harder with a dozen different apps that don't talk to each other? Introducing Odoo. It's the only business software you'll ever need. It's an all-in-one, fully integrated platform that makes your work easier. CRM, accounting, inventory, e-commerce, and more. And the best part? Odoo replaces multiple expensive platforms for a fraction of the cost. That's why over thousands of businesses have made the switch. So why not you? Try Odoo for free at odoo.com. That's O-D-O-O dot com. I'm wondering if having healthcare coverage is worth it from a financial perspective.
It feels pretty bad to be in healthcare in America. It makes me want to move.
I just stick with the millennial health care plan, which is don't get hurt, don't get sick.
You guys, it's time. We got to choose our health insurance again. Gonna be honest, I've been off my parents' insurance for almost a decade now, and I still call my mom to try to figure out which plan is best for me. Because somehow, it keeps getting more complicated.
Hey, JQ. This is Natalie.
When I signed up for my benefits, I was given a big book. And I was told, read the book and pick your benefits. And I kept asking, what do these policies mean? Can someone help me understand all this information in this book?
And I was told, no. The benefit specialist kept telling me, I cannot pick your benefits for you.
How do different health insurance plans compare in costs?
So if the HR specialist isn't helpful, who else are we supposed to ask on what these policies mean for us? Well, Natalie, we got you. I'm Jonquan Hill, and today on Explain It to Me from Vox, we're going to make sense of open enrollment together. What all those acronyms mean, why we're paying so much more this year, and whether there's an alternative that actually works. First up, I talked to Lisa Jarvis. She writes about healthcare for Bloomberg, and she says that like with any major decision, the key to choosing insurance is to start by looking within. I would say the first thing to think about is how you use your healthcare. Are you going to the doctor regularly? Do you have a standing appointment with a healthcare provider that you want to make sure you can keep seeing that same provider?
You know, do you have prescriptions that you take regularly? And then you want to look at what your options are. There's a few different kinds of plans that might be offered to you. There's an HMO, there's a PPO, and then there's some other things that are kind of in between. So an HMO, You're going to have to pick a primary care provider. That person is sort of determining how many other specialists you can see. You have to ask for permission. A PPO, you have a lot more flexibility. That one, you can go see a specialist usually without a referral. You can also see out-of-network people with a PPO plan. So I would be looking at... how you're using your health insurance, what you think your healthcare needs might be going forward.
For example, are you turning to an age where you suddenly need a little more visits to the doctor? Are you thinking that you might be growing your family in the next year? And just sort of weighing what you think you're going to need in the next year and then looking closely at the fine print of your plans. Okay, when it comes to price, how do these plans shake out? So you'll notice that the HMO is probably going to be cheaper than the PPO. And that's because you've got this limited network of providers.
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Chapters
8 chapters
1
Why are health insurance premiums increasing this year?
0:00–0:27
2
What factors contribute to rising healthcare costs?
0:27–2:22
3
How do different health insurance plans compare in costs?
2:22–4:34
4
What does open enrollment mean for consumers?
4:34–6:35
5
How can consumers navigate their health insurance options?
6:35–8:28
6
What are the pros and cons of high deductible health plans?
8:28–11:07
7
What alternatives exist to traditional health insurance?
11:07–13:34
8
How can we address the healthcare system's affordability issues?
13:34–32:19