Networth and Chill with Your Rich BFF Navigating Healthcare Costs on Your Wealth Journey
8 snips
Apr 30, 2025 AI Snips
Chapters
Transcript
Episode notes
Understanding Health Plan Types
- Health insurance plans vary from PPO to HMO to HDHP in a sliding scale of involvement and costs.
- PPOs have higher premiums but lower out-of-pocket costs, while HDHPs have lower premiums but higher deductibles.
How Deductibles and Coinsurance Work
- Deductibles require you to pay out-of-pocket before insurance coverage begins.
- After deductible, you often pay coinsurance until reaching out-of-pocket limits after which insurance covers fully.
Check Medical Bills for Errors
- Always review every medical bill carefully because 80% have errors.
- Confirm charges and billing codes to avoid overpayments.