I'm 21 and have $60 in my bank account right now. Sadly that's more than I usually have. If I get hit by a bus that shit better kill me.

@miguelrobb5719

5 жыл бұрын

Daru Hashida don't feel bad. I have $12,000 in my bank and believe me. It's still considered trash

@avocademy

5 жыл бұрын

@@miguelrobb5719 ok

@miguelrobb5719

5 жыл бұрын

Dony Prasetiyo learn martial arts? Thats the last thing people without health insurance should be doing

@j_misinterpreted_relephant7661

4 жыл бұрын

@@avocademy hes right that money will be worth hardly anything because the US is printing money out like crazy and causing inflation.

@natalier5461

4 жыл бұрын

I know this comment is old but if you have a smart phone, you can easily make money online with selling platforms like Ebay, Poshmark, Mercari, AmazonFBA & many more.

Soooo is there any chance that we get to see that extreme parkour vid ?

@WorldWideWong

5 жыл бұрын

or that knife juggling vid?

@VulcanOnWheels

5 жыл бұрын

@@WorldWideWong Personally, I consider their health to be more important than that.

@TwoCentsPBS

5 жыл бұрын

Maybe we can add it as a perk to our upcoming Patreon membership.... 🤣

@claimthecrown

5 жыл бұрын

@@TwoCentsPBS ok gonna hold ya to it then lol

@jackyzhu9761

5 жыл бұрын

So, how do we bring back Obamacare, or at least imitate it? Lobbying? No, the Republicans will reject everything now they’re in control of everything. Lying? Who would do that? Then how? Reply.

*I have question that's bothering me* Would a Transformer buy a life insurance or car insurance?

@leonardu6094

5 жыл бұрын

They would typically get a hybrid insurance. a mix of the two at a reduced rate. Although most come into our offices asking for just some extra oil!

@roidblitzed

5 жыл бұрын

😂😂 good one

@DanielIles

5 жыл бұрын

Duchi next video topic please

@frankjaker

5 жыл бұрын

Asking the real questions here

@yevhenkozlov286

5 жыл бұрын

depends on whom they prefer to work with: surgeon or car mechanic

This topic isn't very often covered! Now I will consider covering it 🤔👍

@narata1541

5 жыл бұрын

You should cover it! More videos like this really helps people like me who aren't "fluent" in things related to money.

@ChrisInvests

5 жыл бұрын

Narata I will consider covering it in the future 👍

Im not sure on how and when your channel started but this definitely gives great advice for the younger crowd. Your videos should be a life management course in school or even as a morning announcement lol. great work you guys!

@lukemaas5745

Жыл бұрын

It is

The problem is, many young people work service industry jobs paying at or near minimum wage. When you can barely make rent there isn't much of a choice in not buying health insurance. I'm glad you two are able to put a positive spin on this topic, but it's honestly one of the most frustrating, stress inducing, and (in my opinion) amoral aspects of living in the United States. 250,000 GoFundMe's, and medical bills being the leading cause of personal bankruptcy are huge red flags that our system is extremely messed up.

@PS27760

Ай бұрын

Yep. I'm 58 working 3 jobs that are min wage. Just trying to survive like everyone else. Because of a back injury, I can not work FT. I have stress induced depression and have tried to end my life on several occasions. You can't BE seen anywhere unless you HAVE insurance. and I keep getting denied SSDI that I'm supposed to be ON. I'm 40% disabled and STILL have to work and I'm in pain all the time. I WILL file for SSI at 62...that's 4 years. I pray I don't get hurt in the meantime. I HATE these fear based sales ads. Even when I had insurance, it didn't cover shite.

The problem is that many insurance companies wil ldo what they can to side step having to pay. And that's a major issue.

@denisl2760

3 жыл бұрын

They also conspire with the hospitals to make uninsured costs astronomically high, that way people are forced to buy health insurance.

@aldeybrutus4109

Ай бұрын

Yeah if insurance companies paid fairly in every case then paying for it wouldn’t be an issue

I didn't have any insurance from 18 until I was 24 when it became required. I have it now because I'm older and I use it, but it is a waste of money for those already struggling financially.

I really do believe that middle class and lower Americans are one catastrophic injury/accident away from having serious financial problems.

@lemontea000

5 жыл бұрын

Felix B I disagree. US government spends the most on health care amongst any nations in the world. The US spend 2-3 times more than the nation with second highest health care spend. People who are below lower income can apply for government subsidized insurance. The problem with the healthcare is the cost of healthcare. .

@leilanidru7506

5 жыл бұрын

lemontea000 isn’t that literally what op just said? That the cost is the problem? Yea they spend the most but it’s still the shittiest system among developed countries. It says a lot more that they spend sooo much yet people are still soo close to being bankrupt due to a major health issue.

@lemontea000

5 жыл бұрын

Leilani Dru Being a first world country is far more than just the healthcare in itself. Pretty much every western countries describe themselves as first world country. Spain has an unemployment of 20% and of those 38% are young adult. America is sitting around 3.5%. Americans have huge spending power compared to any nations around the world. Etc.. I can go on. While the American healthcare system isn’t perfect, I’d argue it isn’t the worst either. Which definitely isn’t a justification that America is not a first world country even if it’s an opinion.

@leilanidru7506

5 жыл бұрын

lemontea000 I was being hyperbolic in saying “shittiest” it’s still extremely shitty compared to MOST developed countries. And ok, if “developed” isn’t a good enough words. I’ll use “comparable” countries. Which should’ve seemed obvious from context but ok. Let’s irrelevantly prop up Spains unemployment rate as a response to the disastrous dumpster fire that is the American healthcare system. Compared to “comparable” countries (Canada, the United Kingdom, auastralia, France, Sweden, Germany, Austria, Belgium, Netherlands, Norway, Japan etc) the Us healthcare system often comes in last in just about everything that matters. And the response to that shouldn’t be, “well look at Mexico, technically they’re a developed country and their annual GDP is nothing compared to ours; we’re so great.” “And have you seen our military budget, bugger than any country in the entire world” idk why u felt the need to get into cherrypicked statistics about certain nations to get into a global dick swinging contest because it wasn’t my point. Neither was my point that America isn’t a first world country because of its healthcare🙄🤦🏾‍♀️ I’m sure the US is an adorable little superpower but I was just trying to make a point about the healthcare system compared to “comparable” countries around the world.

@lemontea000

5 жыл бұрын

@@leilanidru7506 do we have issues? something that you've said, I agree on. I was commenting on OP. Whilst America doesn't have the best Healthcare system I wouldn't say they're the worst either. My point was to argue that just because a country has flawed system doesn't necessary jumps to a polorizing conclusion. Countries have different perspective on certain things. As an American I can definitely tell you that the Healthcare is not perfect BUT there's more work to be done. How do you compare to other "comparable" countries when Population is much bigger. Consistentency is more difficult to attain in broader sense. Private insurance has dug deep. People who are uninsured is around 10-12% including half of the % who would've dropped out of health insurance anyway. Now does that justify as saying it's not a first world country? In my opinion, no. Cause if it was, it's a darn richest country in the world with one of the best liberal democracy government with large middle class families amongst any nations out there, but apparently its not a first world(?)

Besides the high costs, I also don't like the fact that it's almost impossible to figure out how much tests or treatments will cost beforehand. I grew up in a place where doctors will tell you the options you have and how much each option would cost (they give you the total so you don't get one bill from the hospital, one from the doctor who treats you, one from the doctor who reads your ultrasound, etc.).

@denisl2760

3 жыл бұрын

Its done that way on purpose. If costs were available upfront, people could budget for it, see if health insurance vs. saving their own money for medical care makes sense. That's not good for health insurance providers. They want everyone to be confused and forced to sign up for their plans no matter what.

@smileypc44

2 ай бұрын

They have a billing’s department, you can call them for those costs

Laughs in canada

@HateTheIRS

3 жыл бұрын

Aight

@bechirbensaber1259

3 жыл бұрын

What do you mean by that ?

@sunkarr7867

3 жыл бұрын

Laughs in America (Canada's slow and weaker service compared to the US)

@wolfpackflt670

3 жыл бұрын

Laughs in America (your paying for your healrhcare via taxes idiot)

@phaniaalexis4925

3 жыл бұрын

@@wolfpackflt670 it’s still less expensive. Health insurance is incredibly high in the us. I personally know someone who died because he refused to go to the emergency room when he was not feeling well. (Too expensive) That’s sad

One possible solution is to move to a country where there's universal health-care. Seriously speaking, I enjoy your videos, but, on this particular subject, I have a hard time understanding why such a rich and advanced country cannot offer health-care to all.

@DanielIles

5 жыл бұрын

Brenda Prai economical arbitrage works for a lot of other things too. Living with a different currency than you earn is incredible

@nicholasalonzo3499

5 жыл бұрын

There is not enough doctors and medical equipment neccesary for everyone to have equal access to health care in the US especially with our current high standards for quality of care and the outrageous number of lawsuits against any sort of mistake on the doctors part our population is higher than most other single payer countries.

@electrosquid8325

5 жыл бұрын

Im Swedish, where we have UHC, but we pay insanse taxes and our helth-care system is dependent on the goverment, so in a financial crisis the quality goes down.

@leilanidru7506

5 жыл бұрын

Electro Squid compare that to here where people actively put their lives at even more risk because healthcare costs are so astronomical or who travel overseas (or to Canada) to get lifesaving procedures done. Ever heard of the stories of people who, despite being in desperate need of one, skip ambulances because it costs soo much. Or people especially the elderly, who have to keep working because they’ve been bankrupted by a major health issue. There’s literally no reason healthcare should be at such a huge and inflated markup in this country and there needs to be regulation to at least make it affordable to all, if not free.

@electrosquid8325

5 жыл бұрын

@@leilanidru7506 Regulation has made healthcare expensive. When eye-laser clinics where de-regulated the price of treatment dropped from 4k to 1k.

Healthcare insurance in America is a joke. You spend so much for "the middle man" health insurance month to month but then when you actually need to use it your insurance company tries to pay as little as possible. We need universal healthcare in this country.

@stevechrollo8074

2 жыл бұрын

Universal Healthcare will raise costs. The problem is that Providers can charge whatever they want to. Not the insurance companies

@jaycefiene9566

Жыл бұрын

@@stevechrollo8074 yep exactly

@stevechrollo8074

Жыл бұрын

Medicare and Medicaid is already bleeding money from the Government to the point that they allowed Private Insurance companies get to manage Medicare Advantage

@meto4837

Жыл бұрын

From one extreme to the next? Unfortunately, universal healthcare is not the solution. Would just give less quality health care to everyone. But yeah, the current system we have is hilarious

@vincem257

Жыл бұрын

@@stevechrollo8074 end intellectual property democratize healthcare so private companies can’t profit off of it.

I’m a college student, blue cross came to my campus asking if i wanted to enroll. They told me they had a great student discount plan, it was only about $20 less than a regular plan. It was still about $400 a month. Yes because i can totally afford that when i was debating wether i could have dinner that day.

It's insurance... statistically you're better off without it if you're healthy, otherwise the insurance companies wouldn't make any money. Look at the actual numbers and you'll see that young people subsidize the costs of older peoples medical bills. Even if you do get hit with a $60K bill, you don't have to pay it all. Most hospitals are EXTREMELY willing to help you get a payment plan that would bring that amount down to less than the $20K you saved anyways if you just mention the word bankruptcy. Even high deductible plans still cost more than they are worth if you're healthy. It's all a numbers game and the insurance companies have run the numbers to make sure they don't lose, which means you pay more than they do.

@ToddTinley

5 жыл бұрын

Sounds like a Casino you are describing.

@AdamSmith-gs2dv

5 жыл бұрын

@@ToddTinley Well insurance basically is a casino. Insurance is all about risk management

@c.s.5177

4 жыл бұрын

I've heard insurance described as "a bad bet most of the time."

Wow, going bankrupt and avoiding medical care due to the cost. Dystopian.

@superstandard

4 жыл бұрын

if that is in reference to "free" medical healthcare which A. isn't free anyway and B. costs you more through tax then there really isn't any difference.

@SofiaYasmin

4 жыл бұрын

SuperStandard Check the numbers, the US pay more per person than any other country and still is too expensive for regular people

@thebioastronaut4674

4 жыл бұрын

Sofia E. The United States also has one of the lowest tax rates compared to the other industrialized nations with Universal healthcare. You’re still paying for health insurance through taxes

@andrewrocha5816

4 жыл бұрын

The BioAstronaut you can look at the numbers all you want, but in Developed European countries, lower and middle income families and individuals never have to worry about medical costs or skipping treatment and medication and thats worth more than money

@thebioastronaut4674

4 жыл бұрын

Andrew Rocha Perhaps but that comes at the cost of a reduced paycheck. It essentially takes away individual decision making for at best mediocre healthcare.

This topic was very interesting and actually a question I wondered about. I like how you not only told what would happen but also gave another solution to the problem.

@TwoCentsPBS

5 жыл бұрын

Thanks Ruby! Especially younger folks, it feels totally unnecessary. We just wanted to cover all the angles.

@Petr75661

4 жыл бұрын

@@TwoCentsPBS your calculation at 2:28 does not account for the inflation.

Here's the deal (this is a little risky but I've done it and it works): Two Cents just did a video on negotiating with hospitals and I can vouch that this works. If you're uninsured, hospitals have a lot more freedom in what they charge you. if they bill your insurance, insurance tells them exactly how much to charge and the medical practice is obligated to charge that amount (I work as a medical biller so I deal with this every day). So if there's no third party involved, you can get huge discounts on your bills. If it's still not enough and you're okay with doing this (as I am), give the hospital an ultimatum and tell them exactly what you can pay and if they aren't happy about it they can just send you to collections. Collections *will* negotiate with you after a couple years, and if that's still not enough, take solace in the fact that eventually the charges will drop off of your credit reports. The end. I did this myself after getting into a rock climbing accident and being uninsured. This method depends on how well you can handle hits to your credit, so that's something to consider.

@shredpaper9

Жыл бұрын

Fascinating! Thanks for taking the time to explain!

@me-myself-i787

6 ай бұрын

Also, if a hospital charges too much or refuses to tell you their prices, go to a different hospital.

I was actually thinking about this a few days ago well I definitely changed my mind now 😐 Scared the heck out of me

@TwoCentsPBS

5 жыл бұрын

Haha, mission .... accomplished?

@Pivotal_Moment

5 жыл бұрын

One of my bosses said the same thing we all do, "health insurance is too expensive (I haven't been sick in years)", and chose not to get coverage. Woke a morning earlier this year, not feeling too well. Carried on until she wound up at doctor's office as a "walk-in"--paid out of pocket. Wound up in the ER 2 days later. Kept one day for evaluation, properly diagnosed, got meds....and got the medical invoice a month later--$4k!!! She's rethinking insurance since that day, but has to wait until enrollment dates. I'm sure we all have stories, but any level of insurance is better than none. The lowest/"affordable" plan our job offers starts at $145/wk for individuals--$225/wk for family. Again, THE LOWEST, so does NOT include cost of medication, which really hits lots of people hard.

@Pivotal_Moment

5 жыл бұрын

Benny, I HAVE insurance. Inescapable Fact: "we're ALL going to die". 😁 Many of my coworkers throughout the years have opted out of acquiring coverage (especially) thru the employer's partners--the prices are simply ridiculous. I went external and continue to for years now. But during the annual enrollment period, you can't help but to look at the numbers the employers offer....and frown. I try to encourage everyone in my circles to at least investigate options and get coverage. This practice was enforced after doctor's discovered a tumor 3 years ago. You just never know.

@hennore

3 жыл бұрын

Same!

This channel is soo incredibly informative. I took a financial literacy course in high school, but unfortunately it wasn’t comprehensive and didn’t include much on health insurance. I’d love to see more videos on health insurance. Thanks a lot!!

Very good, playing out the scenarious, A skill not to go without

I did cringe a bit with the organic comment. Got my BS in chemistry and another BS in horticulture. Organic is just a marketing buzzword. Means very little as to the healthiness of the food. Even told us to go that route if we wanted to make more money at the expense of our ethics. But really good video and I should consider this in the future. Right now my employer covers whatever i choose since I'm working for the government. However, when I move to a private plan, I'll probably make the switch.

@oatscurry

5 жыл бұрын

Even if they were serious I can't imagine it's that concerning to use the word.

@thecountrychemist2561

5 жыл бұрын

@@oatscurry it is if you work in the biotech industry, work in research, care about science, care about marketing scams, and/or care about people being lied to over their health and getting false hope.

@classiqcoco

5 жыл бұрын

That’s funny because I went to cosmetology school and it said the say thing in our science chapters. I told someone it was just a marketing term, but they didn’t listen to me. It’s because of the fact that it was from a cosmetology book.

@RainAngel111

5 жыл бұрын

Thank you! That bothered me too

@gino14

3 ай бұрын

How can you tell an environmentalist from a scientist? They seem to be very similar on the surface, but you can instantly ferret them out by asking for their stance on "organic" foods and nuclear energy

Do you guys have a video about the different health plans and the pros and cons for each of them? I think that would be so helpful for those who just started their first job with healthcare benefits!

Still thumbsed up the video tho!

@farhananwar3186

5 жыл бұрын

Sara Graves Laughs in every developed country (except for the US), hahaha

@user-go1vj4go6u

5 жыл бұрын

@@farhananwar3186Anwar and many developing countries too.

@Illiyeen_Jameel

5 жыл бұрын

Laughs in Canadian

@MxBeehave

5 жыл бұрын

Lucky bastards

@paolahernandez6733

5 жыл бұрын

You're very fortunate.

Or move to Canada where public healthcare (MSP) costs only 35$ per month. Additional plan (including dental, medications, therapy, eyesight, ...) would cost 400-1000 per YEAR.

@vicgamesvt9682

3 жыл бұрын

About the dental,medications,therapy part is that why canada still has medical insurance companys? Every year my school sends us a letter telling us to get health insurance for $15-$34/year but in my opinion I would just get it if I ever go on vacation.

@vicgamesvt9682

3 жыл бұрын

@Luís Filipe Andrade you would be paying similar taxes as you would in the U.S.A

@vicgamesvt9682

3 жыл бұрын

@Luís Filipe Andrade www.google.com/amp/s/www.cnbc.com/amp/2017/08/07/canadians-may-pay-more-taxes-than-americans-but-theres-a-catch.html. as you can see from this article canadians pay slightly more in taxes but I didn't say the pay the same or less I said a similar amount and a example of how similar they are is this " in terms of total tax revenue as a percentage of GDP, in 2010, the U.S. collected a slightly lower than average amount of taxes from its citizens ($11,365 USD per capita). Canada collected a slightly higher than average amount ($14,693 USD)".

@vicgamesvt9682

3 жыл бұрын

@Luís Filipe Andrade well your not wrong about our healthcare system being underfunded but also that 3.3k increase is a 10% increase versus what americans pay and yes that's not our only taxes we have housing taxes to fund our schools and we still pay for most prescription medications.

@Memoreism

3 ай бұрын

Actually Canada doesn't sound too bad.

You definitely are bringing more value to people, and for that I thank you!

I just recently subscribed to this channel and I seriously love the many different topics you two cover. The video production quality is really great too which makes everything more interesting to watch. Your videos have great content and I seriously appreciate it! Keep up the good work!

creative solutions to extreme healthcare costs: Move to an actual first world country with a single payer system or vote for politicians who have working peoples best interests in mind.

@jpoppinga8417

3 жыл бұрын

When you find a politician on the national level who cares about the working class/little guy you be sure and let the rest of us know. Fyi that means when the cameras are off.

@sammymohamad1250

2 жыл бұрын

"Creative"

@MTKARusty

4 ай бұрын

Are you saying we should not vote for an orange corrupt billionaire narcissist with obvious lack of morality? 'MURICA.

Man this hit the nail on the head. I have a high deductible insurance and HSA and there is enough in my HSA to cover my max out of pocket. It definitely sucks paying insurance for car, home, etc but if anything happens just once it's well worth it!

@TwoCentsPBS

5 жыл бұрын

Agreed!

@Izzy-gh1yj

8 ай бұрын

It’s worth it if they do pay. We spend our time, money, and effort with these insurance companies and it takes a long time to get results from them when they should be doing their job that they are being paid for

@whatevertheheck13is

6 ай бұрын

You're better off suing the insurance companies first because they will only actually pay up after they've gone to court

Wow, didn’t know about the healthcare insurance turned retirement fund. That’s definitely something to look into when I’m working again ☺️ Thank you so much for all this knowledge!!!

Just found your channel and got to say I love this channel! Very informative and entertaining at the same time.

I'm 46 and can't afford to buy insurance, it's scary, I can barely afford the rents

@avighnavohra6889

3 жыл бұрын

keep in mind that you can write off your health insurance. plus you can use an HSA and fill it up before an IRA and it can act like a retirement account if you dont use it and it costs no money to withdraw for medical expenses. If you have employer matching on ur 401(k) then you should use that first if possible

@bobprice9541

3 жыл бұрын

@@avighnavohra6889 If you are not getting insurance from your employer you cannot take premiums off your taxes. My job does not provide health insurance and I can't take premiums off my taxes.

My family uses the HSA option provided by my work. They also do a match on every dollar I put into the HSA for the first $750 I put in. It really is a great option.

I love these videos and wish financial education was still part of the education system here in North America. Thank you for making these videos for free we all appreciate it 😁

@TwoCentsPBS

5 жыл бұрын

Thanks so much! And we have a video coming soon all about the financial education crisis and what can be done about it! -- Philip

A wise man once told me. “It’s better to have it and not need it, than to need it and not have it” ~My Dad

@charlesg7926

2 жыл бұрын

The ultra rich that own the insurance companies, of course want you to believe that. But did you know, they actually did a study and people that don’t have health insurance actually pay LESS for an injury than people WITH it, do? 😮

@charlesg7926

2 жыл бұрын

The reason for this is because you still have to pay a large deductible, and oftentimes the health insurance only pays a fraction. Also, your chances of being in a serious accident are extremely small.

You did not mention that you can negotiate a medical bill and also often get zero interest payment plans for large medical bills.

Investments is all about gambling with calculated risks. Your health should absolutely never be gambled with because even if you do eventually pay off the medical bills, your body will likely never recover or you will suffer the Sequela of your poor choices later in life.

Another topic I'd love to see covered is Medical Tourism. Love the show, keep up the good work, etc etc

@TwoCentsPBS

5 жыл бұрын

Oh, such a fantastic topic! I'm adding it to our Topics List to cover in the future, Diethoc! - Philip

😭😭 thank you so much for this video! As someone who's only a couple years away from full time employment I needed to start thinking about this now! Thank you 2 cents, keep doing amazing work!

@TwoCentsPBS

5 жыл бұрын

Well thank you for watching!!

So glad I live in the UK, we take the NHS for granted but they do a fantastic job

@nekomatafuyu

5 жыл бұрын

Sadly, our politicians are so desperate for a trade deal with the US right now, I suspect they're about to sacrifice the NHS to get one. Then we'll be up the same creek as the Americans >.

@AdamSmith-gs2dv

5 жыл бұрын

The NHS is a disaster. Even with your insane taxes it is still underfunded and close to bankruptcy.

@munstergirl25

4 жыл бұрын

@@AdamSmith-gs2dv insane taxes? Income tax is Not that high and national insurance is barely anything compared to other European countries.

I still don’t like the health-insurance system that we have in the US but this is a very good analysis of how to deal with it. Very helpful, thanks!

@TwoCentsPBS

5 жыл бұрын

You're welcome!

Suggested solution for those not from the States but living there, get yearly check ups and dental work done in your native country, much cheaper anywhere else.

I'm so glad you covered this topic!

@TwoCentsPBS

5 жыл бұрын

Thanks Serena! We appreciate you watching :)

Another invaluable channel, will definitely explore more videos from you, sir. This will help me plan my parents insurance, thank you!

I think I have the mindset of most people my age: "Oh, I got in a serious accident that costs thousands of dollars in damages? Guess I'll just die."

This video is great, I work in the insurance business and I tell people the same thing. You can't afford not to have insurance. I've seen so many people cancel their policies because they don't use them and bam, something bad happens and they're screwed. It sucks that it's so expensive but there's nothing we can do about it. If you can't afford major medical at least get something like Aflac that can pay you for accidents, hospital stays and cancer. Hell ask your employer to look into them and offer them at work (doesn't cost the business anything) because the rates are almost half off when they are through an employer and not bought directly.

@leilanidru7506

5 жыл бұрын

Braden Skidmore is there really nothing we as a country can do about healthcare? Really? idk man elections are coming up. And like gun control there’s always something we can do about it. People just choose to throw their hands up and act like all the bad stuff happening is par for the course or collateral damage. The entire American healthcare institution needs extreme and major reform. I’m not sure what it’s gonna look like myself but saying there’s nothing we can do about it isn’t true at all. Not because we have oh so much power as a people to change legislation and how this country is run, coz we all know, corruption, lobbyists and big corporations run politics atm but because it’s only this way because we made it this way. Horrible healthcare policies isn’t a fact of life that we can do nothing about. Like pills for example. Actually cost very cheap but sold at an eyewatering cost. Is there reeeeaaallly nothing we can do to fix this shitty system? Or do we just not want to do it?

@lee1davis1

5 жыл бұрын

You promote insurance bc you live off your customers premiums. Charging more than you should so you can go to Japan. All insurance is theft. Hospitals should create payment plans.

@Lycaon1765

5 жыл бұрын

I mean, the insurance industry could stop working with doctors to artificially raise prices. That's a start.

@TwoCentsPBS

5 жыл бұрын

I'm so curious now! Since you work in the industry...what is one thing you wish everyone knew about insurance?

@TheBskids

5 жыл бұрын

@@TwoCentsPBS Pretty much what you covered in this video. People think of insurance like a service that they need to get something out of because they want to feel like the money they're spending is going to give them something in return. That's not the reason why we get it, it's a safety net for when you need help, but I understand why people feel the way they do. I completely agree that it is too expensive and some serious changes need to happen to make it more affordable. I don't have all the answers or pretend to know what is best to do about such a complex issue in our county. In my job I just try to help people understand what is the best option for them and their family with the system that we have.

Great topic. I have this conversation in my head every time I pay my health insurance! This really puts things in perspective.

@mikesimms1820

Жыл бұрын

$320 a check for me !!! 🤦🏻‍♂️

Watching this video makes me glad I’m from the UK. God bless the NHS.

@owl2944

3 жыл бұрын

amen

great video.....please make a video on auto insurance and when to opt in or opt out of comprehensive/collision coverages

@jcrowley1985

5 жыл бұрын

Go on Kelly blue book. If your car is worth less than the annual premium, cancel collision. Typical of cars older than 5 years. Though if you have financing you may be required to keep comprehensive. Why I buy used cars with cash

Yeah, I'll stick with not having health insurance. The health insurance industry and healthcare industry as far as a financial standpoint is concerned, are a total racket. Universal Health Care should be a right not something that we're forced to pay for. On top of that if you don't want to have a premium that's thousands of dollars high, then you're forced to pay hundreds of dollars a month. The whole situation is ridiculous and I for one choose not to conform to it.

@youwhat.

5 жыл бұрын

Why should professional’s labor as well as tons of other costs be a right? It’s overpriced and has a lot of issues but that doesn’t mean we should jump the gun

@onezero1441

2 жыл бұрын

If you’re overall healthy, you can get an affordable premium and a zero deductible, low max out of pocket policy. Ask me how [=

@katl1489

Жыл бұрын

Also I have gone to the ER and explained to them how I can't pay. Medical debt doesn't effect your credit like normal debt. I still have a good credit score and the hospital just wrote it off. Also I did get in a bad car accident 5 years ago and walked away with minor injuries. Actually if I would have had bad injuries I could have had a law suit with a huge pay out. Life is strange sometimes.

@antonio8897

11 ай бұрын

The problem with not having health insurance is if anything should happen you’ll quickly lose control of your financial situation staring down the barrel of thousands in debt.

Great video love the content and really helpful advice with good real life examples.

Your videos are very useful and provide lots of information. I have received lots of help after watching this post, please continue to share this kind of information. Thank you.

I gone 20 years without insurance. That's about $105,000 . As for accidents, well better hope a wealthy person hits you. They need to lower health cost to $200 a month. But yeah it can happen to anyone. Funny thing is why is it cheaper to pay cash at doctor office but yet they charge health insurance 3 times what you paid. That's crazy how doctors take advantage of health insurance

Love the color coordination :D. I did a health insurance check-up because of this vid. I stuck with the same plan, but I understand why now better

@TwoCentsPBS

5 жыл бұрын

Awesome! Glad nothing needed to be changed, but so much better safe than sorry!

I love the video and the tips every video brings. However, about the CD at 2.5%, that’s a VERY unlikely scenario. At least in Australia. I’ve shopped around and the highest rates offered are around 1.80%. On top of that the rate is not guaranteed to remain the same if you decide to extend the term. If you know a bank that does terms at 2.5% I’d sign up today.

We travel to Colombia for all of my health and dental work. The flights, travel and medical costs are far less than my deductible here in the U.S. and we get to stay with friends and family while we're there.

LIVE IN CANADA!!! We go to the hospital and end up paying with a handshake at the end! (Our taxes are high sure... but so those California ;))

@mytube6538

5 жыл бұрын

Bogdan Nitu um taxes are high here too in the US. Trump just changed a law where taxes are higher but not all of it will come out of our checks that way 47% of Americans owe at the end of the year. People who have never owed owe now. So you have to claim zero and not married even if you are and have extra money taken out for state and federal every check so hopefully you won’t owe.

@sadtoy1193

5 жыл бұрын

I heard the waiting lines were long though? Is this a true statement?

@exantiuse497

5 жыл бұрын

@@sadtoy1193 Yes and no. If you have a non-serious injury or illness you might have to wait a long time to meet a doctor on the public side... but you can have private insurance or just go see a private doctor and pay yourself, many people with extra cash do this with less serious problems. When it comes to serious, acute problems, however, it isn't true at all, if you have a life-threatening illness (or something that might leave you disabled etc) you will be treated immediately, they will call a doctor to his home if all are occupied. People don't die in the waiting room unless something went horribly wrong

@AdamSmith-gs2dv

5 жыл бұрын

@@mytube6538 Americans have no understanding of how high taxes are elsewhere. In Canada gasoline is $4-$5 a gallon despite oil being at $55 a barrel (for comparison we were paying $4-$5 a gallon when oil was at $147 a barrel). In the UK it's even worse, per gallon gas there is close to $6-$7 a gallon! We'd be paying that if oil was over $200 a barrel!

@keithkallmes931

3 жыл бұрын

Actually compared to the US, Canada has lower taxes and lower federal spending, as well as lower federal debt, fewer regulations, and an overall more free-market-capitalist-oriented system similar to Australia, New Zealand, and Ireland: www.heritage.org/index/ranking One could assert that medical expenditures are the exception, but the crazy fact is the US government spends about the same on medicine per capita as the Canadian government in the form of medicare and medicaid.

This feeling when you watch this from country with free healtcare.

@freesoftwareextremist8119

5 жыл бұрын

It's not free, you still pay for it.

@exantiuse497

5 жыл бұрын

@@freesoftwareextremist8119 Free is the wrong word. Affordable is the more accurate one. Affordable as in almost every country in the world pays less taxes for their public health care systems than the US pays for Medicare&Medicaid

@pawsnotclaws2772

5 жыл бұрын

Gryczany lucky

@owl2944

3 жыл бұрын

@@freesoftwareextremist8119 if you don't have a job, or you earn below the tax bracket, you aren't paying for it.

I extremely like the video, man. Very helpful and informative. Thank you very much. It is presented so well too. Great, positive work.

When I was in my early thirties I had appendicitis, my insurance ended shortly after and I was stuck paying the aftercare. Meanwhile I was looking for new insurance and I got complications of the surgery. To make a long story short, I ended up with a very large medical bill. (They gave me 28 years to pay!) The rare complication made me uninsurable, so I wasn’t able to get insurance until I heard about the ACA bridge program that was for uninsurable people until the ACA was implemented- so I racked up more medical debt. Shortly after that a family member living abroad got cancer and needed her payments up front before treatment, I couldn’t not help. Already financially strained, I started a go fund me for her and got $0, which is not uncommon! I always tell people to take my story as a warning, make sure you always have medical insurance. I too had insurance on and off when I was young, not anymore!

I think if the healthcare prices were more transparent, mandatory health insurance benefits eliminated,Medicare and Medicaid were destroyed or privatised and people were encouraged to invest money for emergency healthcare costs in things like say a health savings account and extremely disencouraged to buy health insurance plans at all the cost of healthcare would go down extremely fast and reach affordability.

The video only mentioned the $4,500 deductible. What about the $15,000 maximum out of pocket?

@Febreezy

5 жыл бұрын

Right! I didn't like this video.

@yoavmor9002

4 жыл бұрын

Then get a policy which doesn't have such a high max???

@yoavmor9002

4 жыл бұрын

Like seriously, you have no right to complain if you only look at one policy, or worse, the federal regulation.

@wilsonfineart

4 жыл бұрын

And lots of those high-deductible plans are very poorly regulated

Awesome! This is what I do; have an hdhp and save into an HSA. I have very few health problems and get a cold maybe once or twice a year. Great advice!

@TwoCentsPBS

5 жыл бұрын

Awesome, so glad to hear it's working for you!

First of the year I’m canceling my health insure and couldn’t be more psyched about it!!

I knew an older couple, healthy and active, who didn't have health insurance. Well, part of being active is excercise... The wife got into a bicycle accident while enjoying a bike ride on a path along the beach, hit her head hard on a rock. Husband called 911, determined she was in critical condition. Far away from hospitals, she had to be life-flighted by helicopter. Cost over $100,000 dollars. The choice was between that and his wife's life. Of course, he summoned the help. She has recovered now. With her mom in her last years, the couple was able to borrow against their inheritance to cover the costs. Still... Not at all ideal. In many ways, tragic for them.

Extreme Solution: move out of the USto any modern country with universal health care.

@DA-bm2mj

5 жыл бұрын

but expect to get double taxed from both the new host country and the U.S.

@briandeleon3478

5 жыл бұрын

F Maz Yeah and pay insane taxes and then have to wait an equally insane time for the doctor to look at you? Have you heard the stories from Britain or Canada or other countries?

@erikstevenson2445

5 жыл бұрын

@@briandeleon3478 as a Canadian, taxes aren't that bad. Assuming a $100k per year individual income (top 10%) the amount of tax that goes towards health care is only about $250/month. Also, the waits are in almost every case because someone went to the emergency room for an earache. Heart attacks and appendicitis still get through quickly. There are other problems, like a shortage of general practitioners but overall I prefer it over paying $500+/month then spending extra every step of the way.

@user-hl7bw8yw7n

5 жыл бұрын

Brian de Leon nah, I'd rather wait for a few minutes with my broken leg than go in tens of thousands of debt for the luxury of being treated immediately.

@AC-ey1tn

5 жыл бұрын

Who's going to pay for it

It depends on country and one's income level, but general idea is: - cover basics (e.g. flu, kid's diseases, small surgery, etc) from your pocket - it gives you quick waiting queues, much quicker than waiting for insurance company processing, etc. You can return back to your work even within hours or days, instead of wasting weeks or more as it's often in case of insurance, especially country-maintained public insurance. It also motivates people to take care of their health - have insurance to cover the most serious cases you wouldn't be able to cover from your pocket (serious surgeries, cancers, serious accidents). That's what exactly what word "insurance" means - it's not to cover frequent occurences (like flu), but rather to cover something infrequent, unexpected (cancer, fire, etc)

I know it's not within the scope of this video, but I really recommend the book "An American Sickness" which covers a lot about WHY health insurance and medical bills are so expensive im the first place. Excellent video as always!

Oh MAN am I glad to live here in Canada 😀. Broke my finger, walked out without a single bill. Had a repetitive wrist injury, all my costs came to $60 simply for a couple braces not covered here in Saskatchewan. Edit: All that without private insurance. Pretty sure they [insurance co.] covered the braces anyway. Edit 2: Btw I had a X-ray with the broken finger.

@louib716

3 жыл бұрын

What is the tax cost? With how cheap my health insurance is ($37 per paycheck) and how much money I make, I'd end up paying more in taxes than 37 bucks.

@FamilyMSV

3 жыл бұрын

Enjoy the 30% sales tax.

US citizen here. I had an emergency in New Zealand this January, and when I estimated the cost, it would have been around $15,000 here. In New Zealand, they covered everything with their universal health care, so I paid $500 NZD... About $350 USD. So, my answer? Vote for politicians that will fight for universal healthcare.

@gff655

5 жыл бұрын

I love Threat Wire btw. Or you can do what the UK does spread the cost amongst everybody in the country you you only pay sub $* and nothing at the hospital when that energy is better used at getting better. In England you only pay a little bit towards prescription medicine (£7). * The maths is done by scaling up the cost of the NHS and then dividing it by the US population

@ShannonMorse

5 жыл бұрын

@@gff655 incredible!! Wish we had something like that here.

I live in the UK but I still watch everything you make it's always such high quality.

@TwoCentsPBS

5 жыл бұрын

Oh wow thank you!!!

Thank u guys for awesome video! Could u guys possibly do a video on just how much home/car insurance we should have? Perhaps a run the numbers scenario? 🙌🏼🙏🏻🙂

After watching this I understand how lucky I am to be living in a country where medicine is free (well, we pay taxes for it to be free, so I guess it's not free?). Work always comes with insurance and I also pay an additional 10 euro per year to get a compensation if something bad would happen to me. Not long ago my mom was in a small accident and broke her foot - not only all operations and staying in hospital was free - she also got some money for it which she spent on medicine afterwards and in the end didn't lose a cent. Seriously, I won't stop paying that 10 euro...

I agree. I think most people should get High Deductible Health plans. Insurance isn't for everyday expenses - it's for large but rare payments. You don't use your car insurance to replace your wheels, you use it for when you busted your motor. I don't see why we don't do the same with healthcare.

@leilanidru7506

5 жыл бұрын

I don’t know much about the healthcare debate but routine fixes on your car don’t drain your wallet like literally anything healthcare related would, especially without insurance but completely out of pocket. Imo those are two different things.

@ntwalipat2

2 жыл бұрын

@@leilanidru7506 It's a very good comparison!

My mom didn't have an insurance, but saved the money for an emergency. Well she had the emergency, eventually, a bowel surgery. So far so good, but after the surgery she stayed for 15 days in intensive care. Do you know how expensive intensive care is? They charge you for bed, which is already more expensive than a bed in a regular hospital room. They charge you for the 24h doctor and the nurses, besides everything used like dippers, linen, the mosturizer, hospital gown. Medicines and medical supplies are more expensive too. The same pain killer in the intensive care is way more expensive than in a regular room.

Could you do a video on Pyramid Schemes

@AdamSmith-gs2dv

5 жыл бұрын

Insurance basically is a pyramid scheme

@denisl2760

3 жыл бұрын

@@AdamSmith-gs2dv And a protection racket. "Pay us and we will protect you from the bad guys." (The bad guys is actually us, but you don't know that.)

I'm not gone lie I'm 29 and the only time I've ever had health insurance or any of my job benefits is when the government forced us to get it. I don't get sick at all, I didn't get covid (yet) and I'm always in the house or at work. Not saying anything can't happen but if nothing has happened to me this far that would of been alot of money spent for nothing. I'm the same way with car insurance. I just don't get it. Never been in an accident. ( YES I KNOW IT CAN HAPPEN)

@QuesoDaddee

8 ай бұрын

Except car insurance is worse because its a requirement and its to cover the OTHER drivers, not you. I've been seeing more hit and runs lately which tells me more people are without insurance which leaves you vulnerable and at a loss if something does happen and that's extremely discouraging. Oh and insurance usually goes up after an accident regardless of whos at fault. Big ol scams

@dark12ain

8 ай бұрын

@@QuesoDaddee man exactly like when I first got my car they told me I had to have insurance to even drive it off the lot. So I got insurance it was literally $3 less than the actual monthly bill for the car. I let that shit go the next month.

I got health insurance through work, which meant I could eliminate pre-existing conditions (very important) when I left that employer, I was able to hold my account for 25% extra in payments. It was the best thing ever for my family and I to get, covers so many of our medical costs and more importantly covers the surgery we've unexpectedly gotten - saving us way more than if we had to pay directly.

If social media has many unseen benefits, this is one of them. Contents like this is very helpful

Never heard this discussed before on KZread! Thank you!!

@TwoCentsPBS

5 жыл бұрын

We need to discuss it more!

100% agree! HSA is where it’s at! Millennials often do not want to pay for health insurance for this very reason.

@jasonharris765

5 жыл бұрын

The only issue with HSA are they are great....if you make a good amount of money. If you live paycheck to paycheck and make just a little too much for assistance, it sucks...

@bobprice9541

3 жыл бұрын

Isn't HSA only available with high deductible plans that are only available if you employer offers it?

I’m currently 23, but when I was 21 I ended up needing both an emergency appendectomy and cancer screening. I found out while in the hospital that my dad had been lying for two years that he was paying my for my health insurance and had taken me off of his plan. I ended up having to pay the whole thing out of pocket. I worked 70 hours a week over the summer and 50 hours a week during the school year but managed to lay off the $18,000 (after out of pocket discounts) within a year. It wasnt easy, but was possible. I do not recommend anyone go without health insurance. But I am grateful that it is not forced upon the US like it is in other countries.

So helpful, Thank you.

Does Maria live in CA? 😁 I do and am over 50 but under 65 (medicare) I pay about $1200/mo (or $14,400/yr) with a $6000 deductible. So before insurance kicks in I pay over $20,000. In the 10 years to medicare thats $144,000.

I live in Canada so this is something that I don't think about. But I will get health insurance if there's no Universal Health Care here for peace of mind.

I live in a country where healthcare is free so insurance isn't needed, but I used to have it when I lived in Ireland and only used private healthcare as the public care was terrible there. I actually used it often despite being young and healthy, in my teens I had a lot of MRI scans for sports injuries from martial artes and running.

Thanks for giving food for thought. It seems the US approach is low taxes to allow individuals to self manage insurance and other basics. But given the stats on crowdsourced bill pay that system seems to be broken. As an expat I can confirm, Europe’s approach seems to work much better at both a individual and societally (macro economic) level. 2cents. Can you address the impact that collective debt and failure to pay bills costs a society in overall reduction in quality of life (health, education, national stability, etc).

Imagine having to pay for health care

@jasonharris765

5 жыл бұрын

Pros and cons to wherever you live. I'm sure you know this :)

@joeshmoe7899

4 жыл бұрын

Nothing is free. Somebody pays for it.

I am floored that healthcare costs that much. The most I ever had to pay was like 200 for the ambulance. Man I love universal healthcare

@saleh.hashmi

5 жыл бұрын

actually there was a study done which showed average spending on healthcare was more in Canada than US per person ( for same benefits). The probs are the high taxes here. If u willing to put up with that ur welcome to move here.

@lsjax72

5 жыл бұрын

@@saleh.hashmi United states is also the only country in the world that has people going bankrupt due to medical bills.

@saleh.hashmi

5 жыл бұрын

@Yussef Saber lol really u sure abt that? I don't think so

I’m still not interested in insurance but I’m definitely interested in getting a health savings account as well as a flexible savings account. Couple that with a medical savings card, it should be a good safetu net for possible risks, especially since it will make it cheaper. I’ll never e beg online for health, health is far to important, it needs its own money dedicated to it. I’ll also stay away from credit cards. Thanks for making these videos guys. The fact that there are people as misguided as Maria makes them very important.

This is how I've been explained insurance works, so please correctly inform me if I'm wrong. For those that can't really afford it in the first place and still get it with a high deductible, your deductible has to be paid first before they pay anything. So paying 4k before the year is up and your insurance renews is practically impossible and you'll have to pay another 4k before the insurance pays anything. At that rate, they don't end up paying anything because you can never manage to pay 4k a year. If it was my case, I wouldn't be able to pay it I know that for sure and I'm stellar at budgeting. So without putting myself in the hole every month with bills, I can't realistically afford to pay for insurance. Luckily I'm still on my dad's, but he does have the high deductible and that's why I know I wouldn't be able to realistically pay 4k a year.

Single payer healthcare! Uninsured should pay the same costs as insurance companies

You should do a video about student loan debt and how to repay it, or deal with lenders, or what happens when you go into default or other options, etc. No clear video I’ve seen on this yet.

Really nice job with these videos, sometimes you guys are a lotyle too camp for me to stay engaged but this video felt like the perfect balance.

This is a great social service. Thanks guys

The question is how much would healthcare even help and how much would you still pay out of pocket?

@SPQR_14

5 жыл бұрын

Exactly... High deductible plan = bankrupt, low deductible plan = bankrupt, no insurance = bankrupt... The choice is obvious, assuming you make less than 50k like most people!

I was ‘young and healthy,’ then one evening I started having pain under my rib. I was told I had stage IV cancer that same day. I was 29 years old. Just be really careful, medical bills are monstrous.

@pinklipstickx19

4 жыл бұрын

Were you approve for Medicaid

Hey Two Cents, would love to hear your opinion on life insurance such as term and permanent. Great video by the way!

Wow what a great channel. I just discovered it, watch a few videos and subbed immediately

Medical share programs are also an option.

@andreimircea2254

5 жыл бұрын

Alain Garcia ; what is a Medical Share Program ?

@TwoCentsPBS

5 жыл бұрын

Agreed! We originally planned to mention them, but they didn't make it into the final script. They are non-profit health cooperative plans that generally have to have some religious mission or affiliation to qualify. Programs like Medishare is a common example, and they work like High Deductible plans, but cost less and don't have the absolute "guarantee of payment" like insurance does. -- Philip