I know all the other comments say this... but thank you, this is THE BEST explanation for health insurance I have come across and I have just watched like 50 videos. I was tyring to become a pharmacy technician so I wanted that understanding and you nailed it on the head, I completely understand now... THANKS AGAIN!!!
Agreed thank you for this vid. Very easy to understand and write down notes. I want to know as much as I can about every policy or situation from now on. Before it seemed a bit like a foreign language.
Hey, you can also watch Dr Glaucomflecken's videos ! Very instructive, and very funny And this month, he is doing a series of daily short videos about health insurances
Thanks for breaking the terminology down. Not only is US healthcare a criminal system, but it's insult to injury when they don't even cover this type of info in public school systems.
and a criminal system when I just noticed my deductibles are set so high. Now I understand every year will be as If I didn't have any healthcare coverage. I only go to the doctor yearly for minor things. Therefore, I'll be paying for my bills out of pocket. Then January 1st will be reset again. Also, the coinsurance and copays % may never kick in either yearly until something catastrophic happens (may God forbid)...... That's a crime for us to pay monthly for years after years to only have coverage for something extraordinary that may never happen and we don't want it to happen either. My deductible is 7,000. I never exceed it yearly.
I’m not disagreeing with you at all. In fact, I am 100% on your side. However, let’s be real if this was taught at school, I could assure you that the students would either not care or not pay attention.
I know, right? There should be a class Real Life Skills as an elective. Instead of making me take poetry, lol. Um, Actually from college humour even has a Real Lofe Skills category!!
Its worse here, our economy is like a flailing fish, fighting for its life. The normal state of the U.S. economy is actually very bad. Because of this it goes into convulsive spasms fighting to grow any way it can out of desperation. Tricks, gimmicks, rule changes try to stimulate the economy and prevent it from falling but they only bring temporary relief to people since, when you factor in inflation we are declining.
People believe their currency has the worth it does because they have no other option. Even in a hyperinflationary environment, individuals must continue to use their hyperinflationary currency since they likely have minimal access to other currencies or gold/silver coins.
Inflation is gradually going to become part of us and due to that fact any money you keep in cash or in a low-interest account declines in value each year. Investing is the only way to make your money grow and unless you have an exceptionally high income, investing is the only way most people will ever have enough money to retire.
I've tried investing in the stock market several times but always got discouraged by fluctuations of stock value. I would be happy if you could advise me based on how you went about yours, as I am ready to go the passive income path.!!
My CFA NICOLE ANASTASIA PLUMLEE a renowned figure in her line of work. I recommend researching her credentials further... She has many years of experience and is a valuable resource for anyone looking to navigate the financial market..
Thank you SO MUCH man!! I just joined a new company and I have to compare insurance plans and all these terms were new to me until you explained it so well. God bless you!
I was not fully able to understand these terms after hours of research but this video just made everything clear and now I totally understand these terms so thank you!
When my mother had pancreas attack back in 2007 , she was in a hospital for three months, they did very serious surgery successfully and didn't even ask her for insurance card, which she lost accidentally. (Croatia).
Oh my god. This explained the terms so well, that I just got sadder that healthcare has this many hoops in the US. That aside, thank you for this video. I'm blessed having to review this because I'm looking forward to my first benefitted job. Best of luck to all the job and healthcare journeys on here!
I am a dutch student and I'm writing a final project on healthcare in the US. This single video helped me understand something I had previously been trying to figure out for 6 months! thank you so much!!
Just checked my policy apparently until I pay my deductible of 1800 of a doctor visit I would have to pay the full amount at the doctors. I honestly have no idea why I got health insurance. I feel scammed.
Do you have $1 million in the bank to pay cash for your medical care? Didn't think so. Insurance is about managing your exposure to risk. You pay for that via insurance premiums and deductibles. Health insurance companies also reduce the cost of your health care by negotiating a contract price for most medical procedures. It's a service and you reap the benefits when you need to use it.
@@wiseowl2020 wrong, actually it’s the contrary to reaping any benefits. The health and insurance industry prays on the need to have health care. It’s not a luxury or a privilege, it’s a basic necessity to life. The high cost of medical care automatically cuts anyone but the rich to be able to pay out of pocket for procedures, treatments or medications of a lot serious injuries, accidents and diseases. And some even not so serious but still costly (ex: diabetes) so the rest of the majority of the population needs to have insurance to pay for these costs. And the uninsured ( usually the poor) is stuck with an inflated price set by health companies “ negotiations better prices. The health insurance companies do get better prices by negotiating with health companies. But those prices are even really high by world standards. The high cost of health insurance in the US goes hand in hand to the price of insurance; the higher the price of insurance the higher the profits to the companies. If health care was cheaper more people would be able to pay out of pocket and maybe go without insurance, so the pool of people with insurance would drop too, as well as profits.
@@Penguin_of_Death Health care can not be denied to anyone in the US based in ability to pay. That's a federal law. We also have public aid for those who can't pay. I don't think I should have to shovel half of my earnings in taxes so someone gets "free" health care.
…..how do I say this. THANK YOU!!!! …literally. I’m saving this to my favorites because I don’t even know how to else to thank you for this explanation. I wish this video had ads because you deserve to be paid for this explanation. Guess I’ll just like and subscribe instead lol. But seriously. THANK. YOU.
Thanks for sharing such great information. It is really helpful to me. I always search to watch the quality content and finally I found your post. Keep it up, keep posting!
What a brilliant video. Great advice, simple and practical. I like your video presentation. It is informative too, at the same time. Thanks a lot for your guidance!
Thank you so much for this very helpful video. In the emergency visit example. Let’s say it cost $10,000 rather than $8,000. If my Individual OOP Max was $6,000 then I’d still only pay $6,000 right? If the bill was $100,000 I’d only pay $6000 right? What about drugs? What if I had to take a drug that cost $100,000? I’d only have to pay $6000 right? Thank you so much.
Your videos are very useful and provide lots of information. I have received lots of help from them, please continue to share this kind of information. Thank you.
This is insanely complex. In Belgium 2024, insurance ALWAYS comes in between for a fixed rate, even for the lowest cost. If you visit a doctor, you don't even have to pay everything upfront. You just pay the personal contribution of 4€ and insurance gets billed for the rest.
Thanks for explaining. Thats what I feared when I started actually looking at what they cover its a sham. Unless your really sick and really wealthy its not worth it and pushing it on us is ridiculous we need universal healthcare this is ridiculous their is no real insurance if you have to make more than 80 thousand to afford it its a shame. I feel sorry for families with multiple sick people.
Absolutely enlightening video on 'How Health Insurance Works'! 🌐💡 The breakdown of terms like deductible, coinsurance, copay, and premium makes navigating health insurance seem less daunting. Kudos for simplifying complex concepts! 🙌🏥 #HealthInsuranceExplained #FinancialWellness
Please help me get this point,i have diabities and i'am a New foreigner hère,what should i do?how it's going to work?how much it's gonna cost? Thanks a lot.❤️
What about a lengthy visit to the ER where you get sick or have to stay for several days, and the bills are in the tens or even hundreds of thousands? This happens all the time to people in America. Are you saying that if the out-of-pocket max is, say, $600, you would only have to pay $600 for that entire stay and all associated costs (assuming you're within network)? That seems too good to be true to me. Are there special circumstances for those kinds of situations?
Unless you're paying a pretty insane premium your out of pocket max is going to be in the high thousands, even above your deductible. I pay 230 premium for 6700 deductible and 8500 out of pocket max. Literally won't use it unless something really really bad happens to me
As long as you meet your plan's requirements then yes the Out of Pocket Max is the most you'll pay in a year, the only caveat would be if you are in or out of network as the OOP max for each would vary. If your in-network OOP max is 2000 then that is the most you'll pay in a year for services is $2000 regardless of total cost of services. You can verify with your insurance company how out of pocket maximums work for your specific plan.
@@williamwebster9153 Man, I'm jealous my premium is 500 and my oop max is 8750. Health insurance does everything they can to squeeze every penny out of us. Whats crazy is that Canadians don't even pay more than us in taxes and its all free. no deductibles, no co-pays, and no oop max to worry about. They even pay less in the highest tax brackets. Its crazy how many of my fellow Americans have just eaten up propaganda from private insurance companies.
The U.S. Health Care Industry is one of the biggest rackets of the nation. These health care company entities seem to quite function like a cartel considering their high premiums for their services and products. Even if you get a low plan, you would still end up paying a high cost if you need to take care of a sudden emergency. What's worse, in California, you get penalized for not having insurance at all. One way or the other, they get their money 💰.
Every time i go to the doctor i have to pay 100-200-300$ where goes that money go? Also after couple weeks I get the bill and I still have a similar amount left to pay! Could you please explain that?
I know all the other comments say this... but thank you, this is THE BEST explanation for health insurance I have come across and I have just watched like 50 videos. I was tyring to become a pharmacy technician so I wanted that understanding and you nailed it on the head, I completely understand now... THANKS AGAIN!!!
So happy to hear you found it helpful! Thanks for letting us know. 😀
Yes agreed! This helped so much!
Agreed thank you for this vid. Very easy to understand and write down notes. I want to know as much as I can about every policy or situation from now on. Before it seemed a bit like a foreign language.
Jjhhghhjruclips.net/video/2RFU1rbVz_8/видео.html
Hey, you can also watch Dr Glaucomflecken's videos ! Very instructive, and very funny
And this month, he is doing a series of daily short videos about health insurances
Thanks for breaking the terminology down. Not only is US healthcare a criminal system, but it's insult to injury when they don't even cover this type of info in public school systems.
and a criminal system when I just noticed my deductibles are set so high. Now I understand every year will be as If I didn't have any healthcare coverage. I only go to the doctor yearly for minor things. Therefore, I'll be paying for my bills out of pocket. Then January 1st will be reset again. Also, the coinsurance and copays % may never kick in either yearly until something catastrophic happens (may God forbid)...... That's a crime for us to pay monthly for years after years to only have coverage for something extraordinary that may never happen and we don't want it to happen either. My deductible is 7,000. I never exceed it yearly.
@adrielmarcano306 wow, that is a lot.
WELL SAID!!!!!
Imagine a community so cold that their ethic is "oh, you're on the verge of dying? We'll help you... for tens of thousands of dollars!"
I’m not disagreeing with you at all. In fact, I am 100% on your side. However, let’s be real if this was taught at school, I could assure you that the students would either not care or not pay attention.
Insurance companies struggle to convey this information; here, it was done in 6 minutes. Kudos to you.
This should be RUclips top recommendation that comes up for this type of video.
We're moving up the rankings slowly but surely. :)
agree
Please they should use this guy to explain many more things in life
Dating is next
I agree 😅
It's a crime that schools in the US do not teach this
Seriously!
I know, right? There should be a class Real Life Skills as an elective. Instead of making me take poetry, lol.
Um, Actually from college humour even has a Real Lofe Skills category!!
Its worse here, our economy is like a flailing fish, fighting for its life. The normal state of the U.S. economy is actually very bad. Because of this it goes into convulsive spasms fighting to grow any way it can out of desperation. Tricks, gimmicks, rule changes try to stimulate the economy and prevent it from falling but they only bring temporary relief to people since, when you factor in inflation we are declining.
People believe their currency has the worth it does because they have no other option. Even in a hyperinflationary environment, individuals must continue to use their hyperinflationary currency since they likely have minimal access to other currencies or gold/silver coins.
Inflation is gradually going to become part of us and due to that fact any money you keep in cash or in a low-interest account declines in value each year. Investing is the only way to make your money grow and unless you have an exceptionally high income, investing is the only way most people will ever have enough money to retire.
I've tried investing in the stock market several times but always got discouraged by fluctuations of stock value. I would be happy if you could advise me based on how you went about yours, as I am ready to go the passive income path.!!
My CFA NICOLE ANASTASIA PLUMLEE a renowned figure in her line of work. I recommend researching her credentials further... She has many years of experience and is a valuable resource for anyone looking to navigate the financial market..
I just looked her up on the web and I would say she really has an impressive background in investing. I will write her an email shortly.
Thank you SO MUCH man!! I just joined a new company and I have to compare insurance plans and all these terms were new to me until you explained it so well. God bless you!
Hands down the BEST video to explain the absurd complexity of US Healthcare plans and jargon. Thanks
I was not fully able to understand these terms after hours of research but this video just made everything clear and now I totally understand these terms so thank you!
When my mother had pancreas attack back in 2007 , she was in a hospital for three months, they did very serious surgery successfully and didn't even ask her for insurance card, which she lost accidentally. (Croatia).
I think it time for me to move lol
Oh my god. This explained the terms so well, that I just got sadder that healthcare has this many hoops in the US. That aside, thank you for this video. I'm blessed having to review this because I'm looking forward to my first benefitted job. Best of luck to all the job and healthcare journeys on here!
I am a dutch student and I'm writing a final project on healthcare in the US. This single video helped me understand something I had previously been trying to figure out for 6 months! thank you so much!!
Haha you are lucky.
At this rate, as an American I want to move to Europe. Or Canada.
What was your conclusion?
Just checked my policy apparently until I pay my deductible of 1800 of a doctor visit I would have to pay the full amount at the doctors. I honestly have no idea why I got health insurance. I feel scammed.
Thank you for the explanation. Only in America we have to go through this non-sense.
Probably the most simplified and well-communicated breakdown of all this lingo. Thanks so much.
This 6 minute video just taught me so much. Thank you
A way to explain healthcare without being politically polarizing…
What a fantastic video!
Awesome! Thanks for the feedback Matthew.
shabbirhealth.blogspot.com/2022/08/next-gen-nutrition-tracking-apps.html
Wow! Finally! Someone who could truly break it down! Thanks!
Thanks this helps a lot. I got my first job that gives me health insurance so it was a bit confusing.
This was really great, thank you so much to you & your team for taking the time to explain! 🌺🕊
This is a very comprehensive and well put-together video. Thank you so much!
Thank you for the insights. You are a help, especially for newbies in the insurance business.
Thanks for explaining this, they still ripping us off but thanks
Perfect explanation. I can finally understand what has bewildered me for far too long. Thank you for your helpful contribution to the world!
So basically health insurance is useless unless you pay thousands of dollars out of pocket. Thanks!
Do you have $1 million in the bank to pay cash for your medical care? Didn't think so. Insurance is about managing your exposure to risk. You pay for that via insurance premiums and deductibles. Health insurance companies also reduce the cost of your health care by negotiating a contract price for most medical procedures. It's a service and you reap the benefits when you need to use it.
@@wiseowl2020 Sounds like a savings account
@@wiseowl2020 wrong, actually it’s the contrary to reaping any benefits. The health and insurance industry prays on the need to have health care. It’s not a luxury or a privilege, it’s a basic necessity to life. The high cost of medical care automatically cuts anyone but the rich to be able to pay out of pocket for procedures, treatments or medications of a lot serious injuries, accidents and diseases. And some even not so serious but still costly (ex: diabetes) so the rest of the majority of the population needs to have insurance to pay for these costs. And the uninsured ( usually the poor) is stuck with an inflated price set by health companies “ negotiations better prices. The health insurance companies do get better prices by negotiating with health companies. But those prices are even really high by world standards. The high cost of health insurance in the US goes hand in hand to the price of insurance; the higher the price of insurance the higher the profits to the companies. If health care was cheaper more people would be able to pay out of pocket and maybe go without insurance, so the pool of people with insurance would drop too, as well as profits.
@@wiseowl2020 Or just live in a country where healthcare is a right, not a privilege
@@Penguin_of_Death Health care can not be denied to anyone in the US based in ability to pay. That's a federal law. We also have public aid for those who can't pay. I don't think I should have to shovel half of my earnings in taxes so someone gets "free" health care.
This is the best explanation video I’ve seen yet!! Thank you !RUclips top recommendation that comes up for this type of video
shabbirhealth.blogspot.com/2022/08/next-gen-nutrition-tracking-apps.html
What a fantastic video. Great explanation. God bless you, man.
This bloke knows his subject matter.
I’m sure insurance companies want this dudes head on a stake for explaining this too well.
As noted below, this is BY FAR the clearest explanation of this terminology and how the different items interact. Thank you
What a dance! So many strings and levers to honk/pull/move... Thank you for the clarification.
I am subscribing to your channel. You have wonderfully in the simplest way explained what seemed to be tough to understand. Thank you
thank you, thank you, thank you., Explained for all people to understand. I can't thank you enough. Thumbs up and subscribed.
This is so thorough and explained so simply. Thank you
Very good explanation with examples. I have a question. Does Co-pay kick in, only after we have met our deductible?
Thanks for the feedback. As for your question, unfortunately, this varies by plan, so you'll need to ask your provider.
Thanks so much
It is a great video thanks for the great information and well delivered. This is exactly what I was looking for.
…..how do I say this.
THANK YOU!!!!
…literally. I’m saving this to my favorites because I don’t even know how to else to thank you for this explanation. I wish this video had ads because you deserve to be paid for this explanation. Guess I’ll just like and subscribe instead lol. But seriously. THANK. YOU.
Thank YOU for this amazing feedback. :)
You are a G for making this video. It's unfortunate how complicated all of this has to be, thank you for making it simpler!
Best explanation I have ever heard. Thank-you!
Thanks for sharing such great information. It is really helpful to me. I always search to watch the quality content and finally I found your post. Keep it up, keep posting!
Thank you so much you are the best explainer ever!! *watching from my job*
Ofc my wisdom teeth start hurting this month. When my plan resets 😭
Great video. My deductible says N/A. Is that the same as saying the deductible is zero?
Premiums are 1000% profitable revenue for these criminal companies
Agree 👍
Healthcare is so ridiculously expensive we can’t afford it yet Canadians get it for free. Make it make sense
Thank you so much it's sad that schools don't teach this
They worry to much about being Woke!
This video contains a lot of information and is also very accurate. Thanks to you for sharing knowledge with us.
I live in Europe, i watch this video when I'm sad, it always lifts me up.
smooth - simple - nice explanation
What a brilliant video. Great advice, simple and practical. I like your video presentation. It is informative too, at the same time. Thanks a lot for your guidance!
This is the best Insurance explanation I have found ever.
Dude thanks a lot. Just got my first job out of college and yeah I have a lot of learning to do.
Thanks for such an easy explanation for the complex insurance terms.
I am learning so much from watching your videos. Thank you so much for sharing this amazing source of information. This one is quite helpful.
very easy and straight forward , thanks for explaning
Lol
Best Break Down for health insurance. Thank you so much, really insightful and needs to be shared!!
This is so informing!
Thank you so much for this very helpful video. In the emergency visit example. Let’s say it cost $10,000 rather than $8,000. If my Individual OOP Max was $6,000 then I’d still only pay $6,000 right? If the bill was $100,000 I’d only pay $6000 right? What about drugs? What if I had to take a drug that cost $100,000? I’d only have to pay $6000 right? Thank you so much.
Thank you, I was stuck on stupid when trying to understand all of this on my own.
Your videos are very useful and provide lots of information. I have received lots of help from them, please continue to share this kind of information. Thank you.
That was easy to understand. Thank you!
such a great explanation video. thanks
We appreciate the feedback. Glad you found it helpful. 🙂
Amazing video. Thank you so much that actually helped alot!
So glad you thought so! :)
I've read and watched a number of explanations to this and nothing seemed to solve my confusion. Your video finally got it right for me. THANK YOU!
What if you don’t meet your deductible at the end of the year? Then what? Do I owe that still?b
Thanks for making sense of all of this, thanks a lot
Explained very well!!
Wow!!! This was THE BEST explanation!!!!!
This is insanely complex. In Belgium 2024, insurance ALWAYS comes in between for a fixed rate, even for the lowest cost.
If you visit a doctor, you don't even have to pay everything upfront. You just pay the personal contribution of 4€ and insurance gets billed for the rest.
The US is terrible with anything heath insurance.
Great explenation. Thanks!
Thanks for explaining. Thats what I feared when I started actually looking at what they cover its a sham. Unless your really sick and really wealthy its not worth it and pushing it on us is ridiculous we need universal healthcare this is ridiculous their is no real insurance if you have to make more than 80 thousand to afford it its a shame. I feel sorry for families with multiple sick people.
This video is super helpful!!! Tnx a lot!
did you explain "deductible does not apply"
Absolutely enlightening video on 'How Health Insurance Works'! 🌐💡 The breakdown of terms like deductible, coinsurance, copay, and premium makes navigating health insurance seem less daunting. Kudos for simplifying complex concepts! 🙌🏥 #HealthInsuranceExplained #FinancialWellness
Please help me get this point,i have diabities and i'am a New foreigner hère,what should i do?how it's going to work?how much it's gonna cost? Thanks a lot.❤️
THE UNITED STATES HEALTH MAFIA PLAIN AND SIMPLE! Moving back to Australia!
Brother, TAHNK YOU
Thank you , a better more understandable explanation of Dreadful Health insurance.
Would a spouse be considered an individual or family if it's just us two on the policy?
Very informative! Thank you!
Glad it was helpful! 😀
OMG thank you so much! You just made my life easier.
Thanks, you really helped explain health insurance to me!!!
Licensed Agent in all states ! Here to help
Very well explained Ty ❤
What if i have low premiums and low deductibles?
This is very helpful, thank you.
What about a lengthy visit to the ER where you get sick or have to stay for several days, and the bills are in the tens or even hundreds of thousands? This happens all the time to people in America. Are you saying that if the out-of-pocket max is, say, $600, you would only have to pay $600 for that entire stay and all associated costs (assuming you're within network)? That seems too good to be true to me. Are there special circumstances for those kinds of situations?
Unless you're paying a pretty insane premium your out of pocket max is going to be in the high thousands, even above your deductible. I pay 230 premium for 6700 deductible and 8500 out of pocket max. Literally won't use it unless something really really bad happens to me
As long as you meet your plan's requirements then yes the Out of Pocket Max is the most you'll pay in a year, the only caveat would be if you are in or out of network as the OOP max for each would vary. If your in-network OOP max is 2000 then that is the most you'll pay in a year for services is $2000 regardless of total cost of services. You can verify with your insurance company how out of pocket maximums work for your specific plan.
@@williamwebster9153 so you just pay it because thats what everyone else does? Why not just throw it in savings? That’s a lot of wasted money.
@@williamwebster9153 Man, I'm jealous my premium is 500 and my oop max is 8750. Health insurance does everything they can to squeeze every penny out of us. Whats crazy is that Canadians don't even pay more than us in taxes and its all free. no deductibles, no co-pays, and no oop max to worry about. They even pay less in the highest tax brackets. Its crazy how many of my fellow Americans have just eaten up propaganda from private insurance companies.
The U.S. Health Care Industry is one of the biggest rackets of the nation. These health care company entities seem to quite function like a cartel considering their high premiums for their services and products. Even if you get a low plan, you would still end up paying a high cost if you need to take care of a sudden emergency. What's worse, in California, you get penalized for not having insurance at all. One way or the other, they get their money 💰.
very informative video. helped me alot. keep it up.
The US healthcare system is disgusting and inhumane but I appreciate your clear and helpful explanation!
Every time i go to the doctor i have to pay 100-200-300$ where goes that money go? Also after couple weeks I get the bill and I still have a similar amount left to pay! Could you please explain that?
thanks for expanation of coinsurance
Insightful video! Thanks
amazingly explained !!
Insured Closing letter
so helpful thanks
Great Video, I will be including the link to this video in my training for my community.
That's awesome! Hope it helps folks get a handle on all this. Thanks for letting us know. 😁
This is a masterpiece! I have been going through mental stress trying to understand these concepts. Thanks.
homeowners insurance is best 🥰🥰🥰