Health Insurance Decisions

The video discusses the rising costs of health insurance and questions its necessity, especially for young, healthy individuals. It presents Maria's case, who considers canceling her insurance to save money. The video explores the potential financial risks of this decision, including medical debt from unforeseen accidents. It suggests a middle path with High Deductible Health Plans and Health Savings Accounts, offering a balance between saving money and ensuring financial protection against medical emergencies.

What is one reason the speakers consider not paying for health insurance?

• They have a family history of illnesses.

• They plan to move to another country.

• They rarely get sick and feel it's underutilized.

• They want to buy a new car.

What is Maria's main reason for considering canceling her health insurance?

• She needs to save for a house or retirement.

• She wants to travel more.

• She dislikes her insurance provider.

• She plans to move abroad.

How much does Maria expect to save annually by canceling her health insurance?

• $5,000

• $4,500

• $6,000

• $3,500

What financial burden does Maria face after her car accident?

• $63,000

• $70,000

• $50,000

• $30,000

What percentage chance do people aged 25-34 have of incurring a medical bill of $13,000 or more?

• 1 in 5

• 1 in 10

• 1 in 20

• 1 in 15

What is the purpose of health insurance according to the video?

• To ensure frequent doctor visits.

• To protect against unlikely but costly events.

• To save money on taxes.

• To cover all medical expenses.

What type of health plan is suggested as a middle path for Maria?

• High Deductible Health Plan

• Standard Health Plan

• Family Health Plan

• Emergency Health Plan

What financial tool can Maria use to save for medical expenses and retirement?

• Retirement Fund

• Savings Account

• Emergency Fund

• Health Savings Account

What is the maximum out-of-pocket cost Maria would face with a High Deductible Health Plan in the event of an accident?

• $2,000

• $5,000

• $3,000

• $4,000

What is a benefit of a Health Savings Account mentioned in the video?

• It allows tax deductions for medical expenses.

• It covers all medical costs.

• It offers a high interest rate.

• It provides free medical check-ups.