The Personal Finance Podcast How to Plan for Healthcare Costs (By Age)
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Jun 25, 2025 Discover how to navigate healthcare costs throughout different life stages. The discussion highlights alarming statistics and projected expenses, emphasizing the importance of early planning. Learn strategic insights tailored to personal health and family needs, and explore financial strategies for managing healthcare expenses. From understanding insurance premiums to effective negotiation tips, this insight-packed conversation equips listeners with the tools to secure their financial future against rising medical costs.
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Rising Healthcare Costs Insight
- Healthcare costs in the U.S. rise at about 7% annually, outpacing general inflation.
- Average healthcare spending per person is $13,493, signaling the importance of proactive planning.
Choose Coverage by Health Status
- Assess your health status and needs to determine the right level of coverage.
- Prioritize plans you can afford fully, including worst-case out-of-pocket maximums.
Healthcare Tips for 20s
- If under 26, stay on your parents' health insurance plan for free coverage.
- If healthy, consider a low premium, high deductible plan with an HSA for tax advantages.