123 - The Real Cost of Staying Healthy (Beyond Having an Insurance Plan)

In this episode we're diving deeper into health expenses to help you gain insight into where your money is best allocated. In the last episode, we explored how your health insurance is designed to treat illness, not to keep you healthy. Often, saving for your health treatments is the best option if you want to stay healthy. Unfortunately, that's not an option for everybody, especially those who are already paying for expensive health plans. Be aware that most physicians, especially those working for corporations, are removed from the process of healthcare expenses. Their schedule is full and they don't have time to deeply guide you through your healthcare expenses and options. Educating yourself is so important, especially as you get older. You have to know the basics of your insurance plan and be prepared as to what your bills will look like when you go visit your doctor. The four main numbers you need to know are: copay, coinsurance, deductible, and maximum out-of-pocket cost. Your copay is what you have to pay every time you see your doctor, no matter what the visit is for. Your coinsurance is a percentage of the medical cost for the services you receive, and percentages vary greatly. The deductible is the amount you must pay before your health insurance plan covers any expenses. Lastly, your maximum out-of-pocket cost is the ceiling you have to meet before your insurance will pay 100% your in-network healthcare expenses. Privately-owned, independent practices accepting health insurance are becoming less and less common. This is because their reimbursement is delayed, low, and there is poor coverage. Plus, there is also a rising cost of building a workforce, medical supplies, and more. If you can begin by educating yourself on your health insurance plan, you will make your life and your doctor's life much easier.   Connect with Dr. Cernaianu https://www.herabeautyandwellness.com/  https://www.instagram.com/herabeautyandwellness/  https://www.facebook.com/people/Hera-Healthcare-Mirela-Cernaianu-MD/100063462643162/