This was super helpful and depressing, lol. Thank you

Finally. Someone explains this demonic system in a way I can understand. Thank you!

Im learning more from youtube than I did in high school

I did the math. It's cheaper for me to have a cavity, two eye exams, a $400 pair of glasses, a $250 pair of contacts, and 2 dental checkups RETAIL on the HIGH END of avg costs, than to have a PPO plan through my employer. $2100 vs $3400 a year. And that's not including all this deductible and co-pay nonsense!! I'm taking the penalty this year, and cashing in on my family's genes. I'm sorry for those born with pre existing conditions. I really am. It's not fair, and the system is built to farm you.

This is literally a scam.

I'm not American and I have always struggled to understand how health insurance and their plans work in the US as I was curious. This video is the by far the best one to explain it and now I can rest in peace.

So let me get this straight.... I have to pay a fee every month, just to have to STILL pay until I hit a certain amount (my deductible), and THEN that’s when my insurance company will even start considering paying SOME (not all) of the expenses? So I’m paying to have the privilege of paying? How is this right? If I’m paying a monthly fee shouldn’t I be guaranteed covered healthcare on the spot as opposed to having to still pay?

This is crazy if you’re young and don’t go to the hospital that much most of time you don’t even reach that deductible so you always have to pay for everything then next year comes and everything starts over 😮 you practically get robbed

this woman is making the out of pocket maximum sound like we are blessed. oh, thank you lord for this gift from you.

Here in NZ, all I know that when I went to hospital after a biking injury, I got treated then I left, having paid only $1.00 (that's for the can of Coke I bought at the vending machine).

Hot damn! insurance company's are making a ton of money off people!

This is so funny to watch. It made it look like it’s a happy event to pay insurance every month😂

I'm preparing myself to be an adult. Thank you for this!

I despise how this video has cheerful music, narration, and animations when explaining a system that extorts its "members" every single day.

If only it were this easy. Out-Of-Pocket-Maximums are meaningless because the insurer decides what it is applicable to. In 2014 I learned that my possible costs were infinite because many charges were not applicable.

So... I make 28,000 a year 7,000 a year goes on tax, social security, federal and Medicare, i end up with 21,000. Then my health insurance cost 2,400 a year (100 every two weeks) I really end up with $18,600 a year. They expect you to survive on this money. 😑

The rest of the modern world must think we're idiots. (:-(

From my family's experience, this is the best case scenario. Not mentioned is the constant mistakes in billings by both the MDs and the labs, and the hospitals, and the hours on the phone and the agony people go through to fix the mistakes. BTY we are a healthy family with two kids and only need (so far) annual preventive check up and such. God help the people who need constant help, and stuck in the health care's jaws !!!!

Health Insurance in US is the second most profitable industry just after Retirement & Pension Plans. That should tell you everything you need to know.

I teach school and teach an "Insurance Operations" class and this is an amazing video. Excellent job!

I love how optimistic this is.... "Lets say your premium is $200".. Pfft, I wish.. Cheapest plan I can find is almost double that... And "Let's say your deductible is $500" HAH!!! HAHAHAHAHAHA!!!!!! More like five THOUSAND dollars... American healthcare is a really bad joke.

This video may have come out in 2014 but it still explains the system better than most in the present day. Much appreciated!

I thought you just pay a monthly fee and they pay everything. 🙄 Glad to be in Canada.

Wow so if i reach stage 2 near the end of the year,I start all over again?thats not fair at all.

If someone like me can finally understand something like this, you’ve done a great job. Thank you for the video!

I was enjoying this vid until she said that is starts again each year 😂

Thank god, im living in Denmark. You don't have do anything, minior injuries, broken legs, birth, cancer you name it, no need for a special insurance ! You just live your life and pay tax and the system takes care of you

$500 deductible? $2000 maximum out of pocket? HAHAHA! when was this video made? The early 2000s? The 90s perhaps?

Corruption at its finest

So what happens by having a high deductible and being somewhat healthy and never reaching your deductible. Do you just pay for the premiums and the health care? so why do we need the insurance for if we are having to pay them both?

This is THE best video on youtube explaining the process of the insurance world. Thank you for making it so incredibly simple!!!

out of 3 videos I've watched on health insurance this one helped me understand the most (currently working on adult)

I never comment but this video helped me so much! I damn near picked a 3,000 deductible with a premium of 39.50 and an out of max at 5,000. Instead I got a 500 deductible on a 12.50 premium with an out of max at 4,500. This also comes with pretty much $0 in copays. Thank you so much that would have been the biggest mistake in my adult life.

This is the type of stuff I wished I learned in school. Thanks!

Oh my. I have my health insurance thru my employer for 2 years and HR didn't explained to my about it. And this video of 4:55mins explained to me everything. I hope HR's in every company present this video to new hires.

Nice. Only thing it missed was covered vs uncovered expenses. Only covered expenses count toward your deductible. Make sure your provider gets the insurance company to say it’s covered. Otherwise YOU’RE paying and it doesn’t count for anything

Usually, I never comment on KZfaq channels, but your channel is so convincing that I never stop myself from saying something about it. You’re doing a great job Man, Keep it up.

This was the best explanation of how health insurance works I've ever seen. So simple and to the point. Really Helpful!

500 deductible for a 200 plan where do I sign up bhahaha!

In Australia it works differently (if we choose to get private health, we have universal health care for those who choose not to). We pay the monthly premium and then have waiting periods for each service. For example things like optical have a 2 month waiting period, things like dental surgery have a 12 month waiting period etc. But once you have served that waiting period, it doesn't restart again each year. You've served the waiting period even if you change private health insurers. Every now and then insurers will even have a deal where they waive all 2 and 6 month waiting periods. Once you have served your waiting period, the insurer will contribute a certain amount or percentage towards every service you are covered for, up to your maximum allowance every year. That maximum allowance resets every year, but the waiting periods don't. Edited to add: I've never heard of deductibles or maximum out of pocket, we don't seem to have that here with private health.

Super informative! I did notice that I couldn't use closed captions though. Thankfully, KZfaq studio and other online services can make that an easy fix! As 360million people rely on utilizing close captioning to understand videos, adding them to your videos can help your message reach a wider group of people and promote inclusivity! Thanks!

This video really helps me understand health insurance and how to really know what to expect with certain plans and services. Thank you i can now comfortably teach this to my class mates.

Thank you so much for finally helping me understand how the healthcare insurance costs work.

Thanks for explaining the health care key concepts in such a easy to understand way!

Very helpful. Thank you and so sad it's expensive and complicated we need to watch a video on how to get ripped off by the insurance.

I ended up broke after watching this.

Premium is a monthly membership you pay every month that covers like breast cancer,diabetes, cholesterol is covered by premium.At the first stage of the begging of the year you pay for most of your healthcare until you reach the deductible.A deductible is amount of money you how to pay for your care before the insurance share the cost.now when you get health services you will pay for all them health services until you pay the 500 dollars but once you paid all of that then that's when thing will changes then when you enter the second stage that's now when you get healthcare services your insurance company will share the plane but it depends on the plan you choose.

I hate our healthcare system

Thank you for this VERY helpful video!

One thing you can be sure of: the insurance company will try to pass on as much cost to you as possible, all the while raising your premiums every year. Your copays go up, and your benefits will be less. That’s how the game works. They have the game set up in their favor. You can be sure of that.

very helpful video thanks. however, this insurance thing sounds like a big scam to me

Beautifully explained! Thanks for sharing!!!

thank u for also being one of the few that explains these confusing terms!

This is a really good video that breaks down health insurance.

Awesome. Thank you for explanation. I’m a foreigner here and having hard time understanding different terms.

Thank for explaining it in such a simple way to understand.

This is very helpful and I now have a better understanding of how all this works, but I also have a better understanding of how stupid this system is.

I have an autoimmune disease that has no known cause or cure. My medication costs over 6k per month without insurance. My OOP max is $2800. So assuming the insurance holds true to that figure I have a $2800 annual fee for having a disease I didn't choose. Cool.

I literally can't even afford to just get a regular check up due to my deductable not being met lmao... Universal health care for America? Never.

BEST EXPLANATION OUT THERE

The deductible is and copay is much higher than this. And if you reach your max out of pocket for the year, most like your premium will go up. Even worst they might choose not to insure you anymore. What’s more messed up is there are lots of fine prints when a insurer can actually not pay.

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 video. Keep it up, keep posting!

Thank you so much for this informative video. You explained so well and I am no longer confused. Thanks for making it so easy to understand.

STAY HEALTHY LOL

Wow American health insurance is so sad! But great video

Knowing is power! my ER visit bills from CHI St.Luke's included charges for pain-relief injections never done, facility & procedures for Severity Level 4 and Level 5, while I spent total 3.5 hours sitting on a chair in their waiting room - (real severity - Level 2, as max) with some labs work and CT test performed and met the doctor at the very end - in 3+ hours after arrival... They say with straight face that extra & upcoded charges are correct - WATCH OUT FOR THAT!!! - you may need lawyers... BTW: who has to check the charges levels: Me or Insurance co I pay monthly?

Well, my premium is just about the same amount as I'd pay out of pocket for my asthma medication. I might as well pay $320 a month to get the medication along with dental, vision, and preventative care visits. It's also nice to know that I won't go bankrupt if something bad happens and I end up in the hospital. Still, I envy Canadians.

This is insanity. I wish we had Medicare for all or some version of it, just so we don't have to deal with the nightmare of insurance companies.

Insurance Companies are literally profiting off of us we need a fully covered Healthcare system.

Wow! What an amazing and easy to understand explanation. Wish I would have had those years ago. Thank you very much!

Amazing explanation.

the only way I could have understood this was by this video thank you!

I just learned this. I’m so pissed now. 😂 😂😂😂

What if for the entire year all you did was your annual physical which is considered a preventative care. Does hat mean you will be required to pay the FULL deductible at the end of the year even though all you did that year was see ONE doctor for your annual physical?

This makes me want to cry. I will never not be in debt.

This guy Eric Hirschkorn is a hardworking fellow. I have known him for more than 30 years. He knows his insurance! I would buy from him.

Just corporate welfare !!!

At least you don't have the complicated system we have in Canada where we go to the hospital and after extensive treatment, we leave and the biggest expense is the gift shop purchase of a box of chocolates! Then comes all the paperwork.... what to do with the receipt for the box of chocolates?

Simple yet insightful explanation! Gratitude!

This video should be played in schools!

Baffled by premiums, deductibles and out-of-pocket maximums? NO, not really :-) That is because I am Canadian! I am indeed very happy to be Canadian! Now that I am healthy, I pay more than I take out.. People that need care are taken care for free. I might one day need the same.. We take care of each other! Simple :-)

Hi there! I could have sworn I’ve been to your videos before, but I realized it’s new to me after browsing through some of the published videos. Regardless, I’m definitely happy I stumbled upon it and I’ll be subscribing it and checking back frequently!

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!

Very helpful!

Wow Its very simple informative video Thank u

This is a fantastic video. It's clear and easy to understand your explanations. Thank you for providing this information.

WOW! This was SO CLEAR!

Thanks so much for this video. If I understood correctly, here in Croatia we only pay premium and we are at the stage 3 from that very moment.

Finally I understand all about my insurance . Thank you.

Finally got the concepts right. US Health Care system is truly confusing. Thanks for helping in the simplest manner. :)

The NHS (National Health Service) in UK. Everyone working pays and puts a little bit in the pot for everyone including themselves. A lot less than the premiums and co-pays etc in these examples. (Which of course is the profit margin for the insurance companies.) That's it. Of course with mass immigration they are having to build more hospitals etc and there is waiting lists for certain non emergency things. But it's not about profit for health Insurance companies. It's about health for all from cradle to grave supported by each other. A form of 'socialism' despised in USA.

I learned that In My Health class in 10th Grade that my Coach teacher discussed the PowerPoint of The notes which is have to be “ Insurance “

BTW this is just for Medical Insurance. Dental is separate and it's payment structure is slightly different. Vision is different too.

They should take the cutest cartoon shit out and explain plainly. NO ONE, ABSOLUTELY NO ONE IN THE US IS COMFORTABLE WITH THEIR INSURANCE. well rich people are, but everything is swell where money is no object

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.

Here in New Zealand we have free universal public healthcare that cover most of our healthcare needs (such as treatment at public hospitals and prescription drugs covered by PHARMAC) but we do need private health insurance to cover things not covered by the public healthcare system (such as private hospital, drugs not covered by PHARMAC, mental health and dental). I may buy supplementary private health insurance from NIB or Southern Cross.

We kind of do what the US do. So here in Ireland, if you choose to go private instead of public, so if you have a pre-exsisting condition, depending on the plan you were on previously, you will or will not be covered. I was on my moms policy up until August 2021, then i went onto a new system. I only pay 68.88 euro a month which is about 70 some bucks a month. After that, they do the rest.

Is that deductible renewed or refreshed every year? I see some deductibles be at 7900$

Watch out for the words "not a medical necessity" by the insurance co. When I had surgery my doctor kept me in the hospital for one day. My insurance co is very well known, and paid for everything except the one day in the hospital. They said one day in the hospital was not a medical necessity and refused to pay for it. They expected the surgery to be out patient, even though my doctor said a one day stay is normal for this type of surgery. So now I have to file an appeal and try to get the insurance co to pay. If not, the hospital will send me a bill, which can be very expensive. When I had the surgery scheduled, I had no idea that I would have this problem.

How about this. Our government says....As a law abiding citizen. If you’ll go out and get a steady job or jobs. Pay your taxes which keeps our economy flowing and running smoothly for 25 years. You will be rewarded for your dedication and hard work to our great country with absolute, top to bottom, everything covered healthcare?