Understanding the Cost of Health Insurance with Parita Patel

Ever wondered why health insurance comes with such a hefty price tag? We've got Parita Patel from Parita Health joining us in this episode to shed some light on this perplexing issue. Parita dives deep into the anatomy of major medical health insurance, explaining the principles behind Obamacare, the marketplace, healthcare.gov, and more. She breaks down how these policies, designed to cover every individual including those with pre-existing conditions, can sometimes lead to higher premiums. Get ready for an insightful look at the world of health insurance that could help you make informed decisions about your own coverage.

But don’t get overwhelmed just yet. Parita also walks us through the possibility of opting for non-major medical insurance that could still meet your health needs. Learn how understanding your own health requirements and exploring all available options could translate to significant savings on premiums. Remember, knowledge is power - knowing what you have and what other options are out there could be the first step towards optimizing your health coverage. Don’t miss out on Parita's invaluable advice. Tune in and take control of your health insurance choices today!

Transcript

Speaker 1: 0:00

Hello out there and welcome to the Good Neighbor podcast. I'm your host, mike Sedita, and I am here with my co-host, parita Patel, and we are sponsored by Parita Health Parita how are you doing today?

Speaker 2: 0:12

I am doing great, excited to share some knowledge.

Speaker 1: 0:15

Excellent. So we are here to talk about health insurance, and our question for you today is why is health insurance so expensive?

Speaker 2: 0:24

You know there's a lot of answers to that question. The main thing I will say is in all things in life, especially health insurance, you get what you pay for, right? At least that's what we would think. Now most insurance is major medical, which would be through Obamacare, marketplace, healthcaregov all these names are interchangeable.

Speaker 2: 0:42

Major medical health insurance means you can't be denied coverage based on pre-existing conditions, so really it's meant for people that have a lot of pre-existing conditions. But the thing is is when you have a plan that says yes to everybody, regardless of their health, regardless of their pre-existing, that means that they have to make the plans more, the premiums, high enough to cover those people's expenses. So if you're gonna say yes to somebody, for example, that has a cancer in their history, well, the insurance company is gonna wanna be able to pay for those people's expenses, so they make the insurance more expensive. So when you're looking at plans that have major medical coverage, they're expensive because they're taking everybody on. Now, keep in mind you might not need that kind of coverage. So maybe it makes sense to look into insurance that isn't necessarily major medical but still gonna cover the things that you need, if that makes sense.

Speaker 1: 1:37

That definitely makes sense and there's a whole bunch of variables that people might need to consider. And if they do need to consider those things for their health insurance needs to get ahold of you, they go to peritahealthcom and right from there they can get on your calendar and do an exploratory appointment, correct?

Speaker 2: 1:54

Absolutely. You gotta learn what options are available, and it starts with knowing what you have as well. So set an appointment and we can look at that together.

Speaker 1: 2:02

Contact perita today perihelthcom. Thanks, perita, Thank you.