When you quit your day job and live off of your real estate business, you’ll have to pay out of pocket for health insurance. For many Americans, shifting away from an employee-sponsored health plan is a scary idea, but it doesn’t have to be!
On this episode of Investing in Real Estate, you’re going to learn how to make more informed decisions about healthcare plans. We’re covering deductibles, premiums, out-of-pocket expenses, and more. If you’ve ever wondered how to pay for your health insurance yourself, this one is for you!
On this episode you’ll learn:
Why relying on an employer sponsored healthcare plan is a flawed way of thinking.
Two questions you should ask yourself when choosing a healthcare plan.
How to incorporate medical insurance into your Freedom Number.
And much more!
Why Relying on an Employer Sponsored Healthcare Plan Is a Flawed Way of Thinking
You might not know this, but you probably already pay a lot for health insurance. Because it automatically comes out of your paycheck, you might not consider this as one of your expenses. However, you should! Take a look at what you’re paying monthly for health insurance. Your employer is not doing you a favor by providing this service for you. You can certainly find a similar (or even better) plan for your money.
Two Questions You Should Ask Yourself When Choosing a Healthcare Plan
When you’re selecting a healthcare plan, it’s important that you tailor it to your lifestyle. First, you should ask “what can I afford?” Second, consider “what are my family’s needs?” You might anticipate a certain deductible or certain services covered depending on the health of your family members.
How to Incorporate Medical Insurance Into Your Freedom Number
When you calculate your Freedom Number, consider how much you need to live—including health insurance. Remember, you are likely already paying a pretty penny for a plan that might not even serve your family’s needs. Include healthcare costs in your overall expenses.
FIVERR.com ← Get 10% off your first order with code CLAYTON
LinkedIn.com/investing ← Get $50 off your first job post
Book a Call with Our Team
How to Live Like a Boss on Business Credit Cards
Download the free Financial Empowerment Bootcamp
Download the Freedom Cheat Sheet
Subscribe to Investing in Real Estate on iTunes
Find Your Financial Freedom Number
Subscribe to the Morris Invest YouTube channel
Like Morris Invest on Facebook
DISCLAIMER: I am not a financial adviser. I only express my opinion based on my experience. Your experience may be different. These videos are for educational and inspirational purposes only. Investing of any kind involves risk. While it is possible to minimize risk, your investments are solely your responsibility. It is imperative that you conduct your own research. There is no guarantee of gains or losses on investments.
AFFILIATE DISCLOSURE: Some of the links on this channel are affiliate links, meaning, at NO additional cost to you, I may earn a commission if you click through and make a purchase and/or subscribe. However, this does not impact my opinion. We recommend them because they are helpful and useful, not because of the small commissions we make if you decide to use their services. Please do not spend any money on these products unless you feel you need them or that they will help you achieve your goals.
Ready To Build Passive Income Through Rental Real Estate?
Ready to talk about your goals? We're here to show you the tools and teach you the process to begin earning legacy wealth for you and your family.
Health insurance is an investment, not an expense. So, paying for the investment itself should not be a burden. Once you understand this, it becomes easy to handle your health care insurance.
Love that! Thanks for reading.