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.
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