Tag Archives: Medicine

How You Can Save Money On Prescriptions

**How You Can Save Money On Prescriptions**



View Time:3:21Minutes



Use This Website to Pay Less For Your Meds
cold and flu season is here it is bad enough to feel sick but having to pay a steep prescription costs on top of that can of course make you feel even worse here to talk about a cheaper way to get the medicine that you need as medical expert dr. Holly Phillips good morning how are you today good morning thank you so much for having me I'm good well everybody's interested in saving money especially when it comes to prescription drugs because they can be so expensive so first and foremost how can we save money when it comes to prescription medicine right well many of us don't think about it but different pharmacies actually charge completely different prices for the same medications so RetailMeNot rx saver is both a website and an app that can help it lets you choose your pharmacy based on price transparency as well as convenience all you do is you go over to rx saver calm or the app and you enter the medication you've been prescribed with your zip code then the website shows you pharmacies in your area that sell your medication and most importantly the prices so then you choose a pharmacy based on that list of low prices and you get a coupon which you show to your pharmacist right when you go to pick up your medicine it's really simple patients can save up to $1,000 a year on their prescriptions this way and it's really perfect for people who have no insurance coverage which is a lot of people or one of those plans with a high deductible it can really help everybody and when it comes to over-the-counter medicine how can we save right well over-the-counter medicine very first rule of thumb try to do generics when you can for the most part they have the exact same active ingredients as brand-name medicines but they cost much less also check the ingredients of any multi-symptom cold medication you're taking to make sure that you're not doubling up on the same things so for example if you've already taken acetaminophen for your fever be careful not to take a multi symptom medicine that also contains acetaminophen both for your health and for your wallet and if we want to try home remedies first what would you suggest sure well I you know home remedies are really the basis of treating the common cold because unfortunately there's no magic cure yet but I tell my patients staying hydrated is the most critical thing focus on hot liquids like tea with honey or water with lemon that heat soothes inflammation in your nose and your sinuses my personal favorite sore throat remedy is really simple just a gargle of 1/2 teaspoon of salt in 8 ounces of water and now the benefits of chicken soup are backed up by science there's a lot of great research out there so all of our grandmother's can celebrate and say I told you so absolutely and I think we like to eat it anyway which is great so go ahead and mention the the app egg once again and where people can go sure the website is our x-saber com the app is called the exact same thing there's no fee to use it and it's really simple to use easy one-stop absolutely thank you so much doctor thanks for having me

Save Money on your Pet's Veterinary Bills

**Save Money on your Pet's Veterinary Bills**



View Time:2:38Minutes



Taking preventive measures with your pet’s health care will actually save you money by preventing disease and problems.
when you consider special diets grooming medical and dental care the cost of owning a pet can really add up well here are four ways to save on veterinary care and still get the very best for your best friend the average yearly cost of keeping a dog is about twelve hundred dollars and for a cat that reaches eight hundred dollars clearly we believe in the value of pet ownership and that it is worth the expense yet there are many ways you can save money and still provide the finest care for your pet the best recommendation for saving money at the vet's office is to prevent the diseases that are often easy to prevent and costly to treat first infectious diseases are on the rise but most of these serious infections are easy to prevent the veterinarians recommendation on vaccinations depends on many factors such as the age and lifestyle of your pet and where you live a simple low-cost vaccination can potentially save you plenty in the long run another costly hidden danger one that's even fatal for your pet is heartworm disease while it is costly and dangerous to treat it is often very easy and inexpensive to prevent your veterinarian can help you prevent this disease in both dogs and cats the third area where you can save money is proper dental care you should learn how to brush examine and treat your pets teeth and prevent costly tartar formation this and the home use of a new barrier sealant gel can save you and your pet a lot of stress and money finally stay trim and eat right that sounds familiar doesn't it well the same applies to your pets quality premium foods and daily exercise our keys in the prevention of obesity and expensive secondary diseases by seeing your veterinarian now and taking these for preventive steps you and your pet will be on the road to a healthier lifestyle which will save you a fortune in the long run once again an ounce of prevention is worth a pound of cure and it's especially true in veterinary medicine prevention is the key I'm dr. Jim Humphreys thank you for watching our video please take a moment to visit our websites dr. deborah garrison at the Tresh week veterinary clinic love your dog calm love your cat com t vet calm my pet care tv.com and pet docs on call calm thank you and we wish you and your pit happy in long life

How to Budget Your Money | Nurse Edition

**How to Budget Your Money | Nurse Edition**



View Time:16:56Minutes



Let’s talk budgeting! We explain how we budget, why we do and I show you how I track our income and expenses!

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I am a 3rd year SRNA & ICU nurse. I went to nursing school to get my ADN, started working and then went back for my BSN. I was a travel nurse for 2 years before starting CRNA school. I loved travel nursing so much but I also love anesthesia so I went back to school to become a CRNA. I plan to continue my travel nursing career when I become a nurse anesthetist! Fitness is also a huge part of my life. I’ve competed in powerlifting and Crossfit. Jon and I own a gym together! We are also foster parents to dogs and (soon to be) children!

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hi everyone and welcome back to another video today's videos gonna be about budgeting because when I made my ping for school without any student loans video everybody wanted a budget video too so I'm gonna be making that today and I have my guest star husband here John because he's the finance guy and if you thought his channel as well you'll know if you don't go ahead and give it a follow because a lot of the stuff I learned this video actually came from him so we want to give him some credit too so we're gonna get right into it but first I wanted to give you guys a little update on our foster care situation because a lot of people have been asking what's going on with the foster child and if we're gonna be getting a foster child soon as you know we started the process of becoming foster parents in November 2018 and it's now June 2019 and we're still not certified just do delays hopefully we'll be approved in the next two or three weeks we'll definitely be approved in July she said so that's something to look forward to we initially have thought we're gonna be approved in May but stuff happens and things just take longer than you think so we're eagerly awaiting we have everything ready and we'll update you guys as soon as we know something anyways that's what's going on with that so now let's get into the budget the first thing is going to be having a reason for budgeting this is so important because if you don't have a reason or a goal or something that you're working towards you're not gonna stay on track you're not gonna be motivated to save money because who wants to save money just to save money and this is something I learned from John because we used to just work work work and save all of our money with no goals or no reason for doing so and as we got a little older he started saying we should have a goal or a reason that we're saving our money so we don't just feel like we're working and getting burned out and then we can celebrate the accomplishments along the way right I definitely think you need to have your why or an emotional attachment to a large goal like she said I guess we're kind of weird we could save without having that big goal we just like saving to save and I guess we had a vague goal we knew we were saving for something we just didn't define what that was and once we defined what that was we saved even more diligently and more strictly and it got us more excited about the future and about saving and we weren't just putting money away just to put money away so whether that's being debt-free or travel in the world or retiring early or putting your kids through school or buying your mom a car whatever it is putting an emotional attachment to that goal and to the reason you're saving and you'll get there much faster and also feel better doing so when you put that $500 to the side it oftentimes doesn't feel that great and in fact it could sting a little bit because you could say I could've bought clothes or shoes or whatever the case may be but if you say half up with this $500 away right here and I calculate that I know within three to five years that's going to buy me my dream home or pay off my parents house or allow me to travel the world whatever the case may be you'll feel better about saving that money so that's all we really have to say about setting a goal really the goals can be personalized to you guys could be your children's college fund it could be really anything so yeah set a goal write that down and remind yourself of why you're doing this okay another thing we wanted to talk about and this is mostly pertaining to couples so if you're not a couple this is probably gonna be important it's sometime your life but right now it's really important to us and that's communicating about your finances um when you set a budget you need to communicate your expectations to each other if you have somebody who's very frugal and somebody who's a big spender there's gonna be a lot of conflict there so you want to establish everything upfront what you expect of each other and hold each other accountable so doesn't create friction down the line and I highly recommend don't hide your finances from your significant other I heard a lot of people do this they have like other accounts or other cards because they don't want to shop and order stuff then I order stuff and bring the packages in before the other person gets home to hide it and I think you're just setting yourself up for fights and failure there so I don't suggest that at all I would say to each their own a little bit on that like some couples go their entire lives I'd say very few but good their entire lives with separate bank accounts and separate incomes and all that separate retirements and never discuss it I'd say that's really rare and I don't recommend it why not put two heads together and work together towards the same goals I think if you're a couple and you want to make your marriage last anyway you should have relatively the same goals you can have different goals as well but like as far as life and the ultimate outcome I think should be a little bit on the same page but yes communicate often and regularly and also have a way to track each other and keep each other accountable so we actually still have separate bank accounts but we communicate so well that that doesn't we've never had a joint account we basically split the bills for a really long time when we were together and now we just work together really well with finances and we don't need to have a joint account because we hold each other accountable with our budgeting it was tracking everything like he said it's gonna be a little different for everybody communication is key and we recommend having weekly or monthly meetings about your finances if you're just getting started and you have a lot to work on he usually recommends I'm speaking for him he's already nobody tells people I'm capable why'd you just run my YouTube channel – he usually recommends that you meet every week and talk about your weekly budget what you did wrong what you did great what you could do better and later down the line you say you can meet monthly right right I mean you can get it down to yearly if you really want to just the more you stay on top of it the more I want more on track you're gonna stay and it leaves less room for error over time so if you're checking on it weekly it's very rare that you're going to get a wrong charge or somebody's gonna spend money out of turn and nobody's gonna know about it if you let that go like six months it might be too late to fix that exactly so part of budget setting the actual budget setting is to figure out your monthly expenses I'd say this is like the first important thing you must do when you're creating a budget because you have to know what your fixed costs are what you have to spend every month and some of those things would be like rent electric phone bill insurance anything that you have to pay every month and after you figure out all your fixed costs of stuff that's completely unavoidable you're gonna want to figure out your variable costs or your discretionary in discretionary your in discretionary costs and that's basically stuff that you don't need to buy but that you want to buy and stuff you could avoid but it also might make your life better so you might want to incorporate that into your budget as well um I like John talk a little bit about wants versus needs for a second because that's the only thing he's passionate about yes I'll touch on what she just said you want to get all your fixed costs down you know and try to categorize it don't just write all these expenses down in a row it's hard to keep up with but you know your rent electric all the all these should have their own category and should be tracked each month it's that way you know you're not spending $300 in your electric bill when you really could be spending 150 and you're not tracking it so you don't know you're spending that much more than you should be another thing is you can do is you can call these people your cable bill your insurance company sometimes even your rent you pay a few months up front and get these bills down I know like if you call your cable company and say look I want to cancel sometimes they'll cut your bill about 25-30 percent same thing they're an insurance company same thing with your cell phone plan all these can be adjusted so you want to try to get those down as low as possible and then move on to your discretionary funding and you can totally control this like she was saying this is your once versus your needs I think a lot of people would do much better than their budgets and overall finances if they got down this simple concept of once versus needs when you go to buy something when you go to grab something off the shelf when you get online the shop ask yourself do you want it or do you need it and if you want it that's okay we all have once but if it's not a need it could wait and just by waiting on simple things a bunch of little things like that it could really add up to thousands of dollars a year and put that money towards your real goals that goes that mean more to you than just a pair of shoes and that will pay off in the end one thing that we do is we want something that's outside of our budgeted money we don't go to our savings or something else and take the money we do something to make that money to be able to afford the thing we want in addition to our budget so say that we want to go kayaking one weekend it's gonna cost $200 to rent the kayaks to kayak for the day and we need to pay for gas up there we need to pay for lunch and dinner while we're there all that stuff we didn't plan this out we just decided we want to do it well or find some way to make the money for that whether I can pick up a shift as a nurse John can pick up some extra clients we can do some kind of side hustle to make the money we do all sorts of things random makes money on the side down the corner don't worry about that we won't get into all that just in this video but we have a lot of different ways to make money so the purpose of me saying that is just to say that you don't have to give up having extra things but you do have to be very conscious of your budget and if you want something extra you need to work for it or if it's not worth working for just skip it until you've met your goals don't don't be like me she yells at me for this is I'm really bad at this I'll do a side job or pick up some extra money or do something and then she's like okay we have the money and I said no that's savings we have to pick up another side job for the money I'm off with that she's like didn't you just pick up extra money to buy this side set item and I said no that didn't count so stick to your goal of what you did that side income for it because otherwise you'll drive yourself you're you're a lot better about it now than he used to be but he used to pick up a job to make $80.00 and then say oh okay we'll go out to dinner like that'll be like $30.00 or something and then he then somebody else will call Andy Billy actually that's not gonna be for this anymore I'm gonna do these other 800 jobs and then it would all get convoluted and it would all end up going to save use anyway so it's not necessarily bad but in the long run it's probably not sustainable not for most so the next thing that's very important and one of the most important things is tracking your spending for accountability for projecting where you're gonna be when you're gonna reach your goals you need to track everything because if you're not tracking everything you have no idea what's going on and your mind is not a reliable tool for tracking your spending because it's very selective and it will leave out all that little stuff you do and think it's not a big deal even though it is once you got it up in the end of the month and you've spent how much on coffee you do this that's a lot of coffee every day right yeah you save like hundreds of dollars a month right well depends on how much coffee you drink you're just saying to track everything and the more you track the more you'll hold yourself accountable for your spending and this is super important and we do spend money on in discretionary things we like to go to eat grab Chipotle grab ice-cream grab a pizza things like that say ice cream again because you spend almost all of our money on ice cream I like ice cream a lot okay so how to track so tracking is just this simple you're gonna get a notebook I call it the playbook you're gonna take that notebook you're gonna write on in front of it playbook 2019 or whatever year it is and then you're gonna categorize your expenses and you're gonna write in it each and every single day every time you get home from work that night both of you or all three of you or how many ever there is need to write in that book everything you spent some time yeah I'm not judging anybody so anyway you're gonna write all your expenses in that book every day and then at the end of the week you're all going to sit down and go over it together and hold each other accountable you do not want to fight or argue this is super important the book should be a happy place not a mean place so when you sit down to go over this I would say for instance Rihanna this week you spend seven hundred eighty dollars on the ice cream how could we how could we improve on that someone must've stole my card yeah right so how can we improve on that seeing this you've got to stop buying an ice cream this won't work and get mad that's never going to work so do not do that work together now if she buys ice cream the next week and the next week at the same rate divorce yeah absolutely immediately you just go down to the divorce lawyer and you get a get a divorce immediately no seriously maybe some counseling something like that but anyway you have to figure that out together and work together so do that with a book the reason I like the book and not the apps Andrea has her own way of doing it which is also fun but I'll talk on mine with the book and the pen and paper it has a motion to it and you are actually physically doing this so please just get that notebook and keep track of all your expenses and I think it'll go a long way for you I know I keep seeing couples and throw pools and all that but if you're single all this applies the same their notebook the spinning the tracking and goal-setting all that applies the same I just get hung up because we're sitting here as a couple but if you're single this works just the same yes and if you're single you'll have to hold yourself accountable which might be a little bit harder because nobody's forcing you to do something but you also don't have to argue with anybody and you're in control of everything so there you go great all kinds of sounds are being single yeah maybe we should do it I'm just kidding guys so um how I like to budget my money is through an Excel spreadsheet I like to use an Excel spreadsheet to budget my money because it does the math for me and I still have to physically type everything in there but it does the math for me I separate it I'm gonna actually show you soon as we're done talking so you can do whatever method you want we actually don't agree completely on this because John prefers pen and paper and I prefer virtual because I feel like pen appeal first rule virtual digital I preferred digital because I just feel like it's more accessible you can upload it to your Google Drive you can access it from your phone or anywhere and you always have it I feel like when I mess up on pen and paper and actually cross it out I want to start a whole new sheet that's probably my though as long as you're tracking that's the important part of that and actually I'm going to show you my spreadsheet right now and I'm gonna link John's PlayBook video below because he showed you how he sets up his budget book and how he helps his clients set up their budget books if they want to keep it on paper versus digital so I'm going to link that video below in the description box and let's go to the computer and see my excel sheet okay now we're gonna take a look at the Excel spreadsheet I just call it our current budget as you can see in the bottom left I organized it by year so first we have the bills which I categorized with a note based on what they are I just put in some examples here for you to see just so you can get a feel for how I do it and then down at the bottom it automatically tows the columns so I can see what my bills are for the month obviously it's not all of our bills then we have groceries gas eating out beamers expenses medical expenses cars taxes our travel which is very important but we don't get to do it every month I still leave that on there just in case our business expenses which is a whole separate thing but sometimes stuff comes out of our personal money we need to track that and then others just for miscellaneous things if I pick something up from the store or whatnot then we have income here which I'm just gonna put on a random number to show you how this works I track all of our income over here and then it totals this down at the bottom and then if you see over here to the right it actually carries everything over for the year so you can see January had a thousand and 975 out in this scenario and at the end of the year it totals everything down on the bottom so you can see what you net for the entire year then I'm just showing you this whole sheet so you can see how the whole thing looks the same basically and I just do that throughout the year try to keep this up to date as much as I can and it really gives you a good overview what you're spending we could spend less on and what you're doing well hopefully that spreadsheet gave you some insight under how I do my budget and hopefully helps you set up your budget as well um I think that's about it for this video yeah big final thoughts are is Senate budget set it go and work towards it hold yourself accountable be disciplined I think that's the biggest one here it's gonna take a lot of discipline I understand all the temptations to spend the money I'm a huge car guy she knows this about me but a long time ago cars to buy but doesn't right I've gone in the dealership's before I just I can't do it because I know that that money that I spent on that car not only with the car depreciate but that money could be used to go towards investments and houses and make a return on that investment eventually I need to get to the point and just let go and buy something I really want right so maybe but it's hard for me for now but it's because I've developed so much discipline you know now it's just second nature to us to save and work towards our goals it's nothing for us to pass up on a dinner or to not buy that case of beer or buy super expensive vacation like it doesn't even really cross our minds anymore we have once but we just are really good at not acting on them anymore exactly and really like when we go on vacation for example because you guys know we love to travel even though you haven't seen a ton of that because I started this channel after I started school and ruin our lives but normally you like to travel a lot and hopefully we get to go on a trip soon but we'll stay in a less expensive hotel or even an air B&B and explore that country and have the same amazing time that we would have we're staying in a five-star hotel of course that hotel is probably more comfortable more luxurious but really is it worth spending five or ten times more than we would spend for a cheap air B&B but I'm going off on a tangent but I just wanted to say that there is balance so maybe we save in Airbnb for eight days and then we stay in a nice hotel for the last two days yeah my closing statements are if you're one of guaranteed get into CRNAs score nursing school if you want to finish school without debt and if you want to get the highest paying job as a CRNA when you graduate you need to go subscribe to my channel oh I wonder what you're gonna say when you said guaranteed to get into CRNA school I was like oh don't say that okay I already showed use channel the beginning if you haven't subscribed already make sure you subscribe now because you know we want to help them yeah a thousand that's all I'm asking for it and I'm like right there almost there it's right there yeah so subscribe to this channel and I hope you guys have a great week see you later

#51 President Trump Expands HRA's!

**#51 President Trump Expands HRA's!**



View Time:32:9Minutes



IN THIS EPISODE: President Trump has done it again! A very good thing, that is, with the stroke of a pen Trump has unraveled another disastrous piece of ObamaCare with an Executive Order that expands the availability of HRA’S to millions of employees.
Tune in to the Healthcareonomics to hear health care expert Dr. Kevin Wacasey explore different ways Americans can save on health insurance, and health care.

This episode’s guest is Tom DiLiegro, the owner of Benefit Advisors of Charleston, South Carolina. Like many other employee benefits experts who are disrupting the traditional health insurance model, Tom is dedicated to helping employers make better decisions when it comes to saving money on both their health care, as well as their health care coverage.

To learn more about Tom, visit his website at

And the next time you’re shopping for health insurance, to find the plan that makes the most financial sense use the Dr. W’s Equation app – now available for Android and iPhone.

You can also learn more about how you can save money on your health insurance and health care by checking out Dr. Wacasey’s books:

Follow Dr. Wacasey on social media:

Blog – healthcareonomics.com
Parler – @hconomics
Twitter – @hconomics
health care Oh nah mcc's changing healthcare by changing the way you think about health care hey welcome to the healthcare anomic spod cast everybody I'm dr. Kevin Wade Casey your host and joining me today is Tom DeLay grow well one of my favorite guests the guy who helped kick off this podcast series healthcare anomic for employers Tom thanks for coming on the show how you doing today I'm doing great always a pleasure to be with you I look forward to these podcasts though thanks for having me back great I have to get your secret you asked me back I had a Rotary Club that asked me back I gotta invite my wife and you guys need to tell her but what makes you ask me back on cuz uh I could use some help well like to be on but yeah Tom and I follow each other on social media we have a lot in common Tom as a benefits advisor with tell us your company name again benefit advisors of Charleston benefit advisors of Charleston that's a Charleston South Carolina but he does work across the country and I'll have information on how you can contact Tom and then links to all his services below when it published the video but today what we planned on talking about something happened within the past week that made the news a little bit made the news but I wanted to get Tom's perspective on it and have him explain it to everybody because I think it's huge and it is this president Trump has signed an executive order expanding the use of HRAs within the health insurance world and so Tom why don't you tell us what an HRA is and then let's get into what presidents Trump executive order means for employers and their employees out there sure so an HRA is nothing more than a provision in the tax code it was part of the 1952 or 54 a Revenue Act signed into law by President Eisenhower which pretty much gave every employer the ability to reimburse on a tax-free basis qualified medical expenses okay it was been in existence for 60 years very underutilized which I'm sure we'll get into later on in this podcast so that's what it stands for then that's what HRA is a health reimbursement account correct arrangement one of my biggest pet peeves this one people and I saw one the other day the Wall Street Journal called it a health reimburse an accountant I cringe and I go no it's an arrangement because there's no account it's a commitment to pay you don't actually pay until somebody incurs a qualified expense okay okay so this separates it from the HSA that hopefully our viewers are familiar with the health savings account which is a great thing to have it's a great way to spend your money on your healthcare tax-free tell me this before we get into president Trump's recent action is it possible for an employee to have an HRA and an HSA yes they can't overlap they just can't overlap the qualified expenses I refer to are 213 the expenses and anybody can go out Google's section 213 D and there are thousands of things that are considered qualified healthcare expenses that can be reimbursed for or paid for using HSA dollars now well you know who would make that decision who would make that decision on whether you pay for it with your HSA pre-tax dollars or whether the employer pays for it with the HRA therein lies the rub that's why they're called consumer driven health plans they're consumer driven accounts so you and I and everybody who uses these accounts are expected to know some of the provisions of the tax code otherwise there are major penalties if you overlap what use an HRA and an HSA for so you could have what's called the stacked accountant so long as the HRA doesn't reimburse anything below what qualifies health plan is being hsa-qualified then you can absolutely stack them together okay okay yeah getting into the benefits like level three okay gotcha gotcha but basically the bottom line is if you are an employee and you work for an employer who offers both HRAs and HSAs I think it's fair to say that you should be working with your employee benefits folks your health benefits folks within your company or your advisor outside right outside the company to maximize the savings that you would achieve both through the pre-tax dollars afforded to you by your health savings account as well as the ability for your employer to reimburse certain of your medical expenses over and above the health savings account with their dollars okay so that's what an HRA is a health reimbursement arrangement so let's get back to that again so the HRA tell us what had what did President Trump do recently that is such a big deal why the news HRAs so again based on the original tax law this is essentially out-of-pocket medical expenses what the HRA was intended to be used for right Medicare Modernization Act came into play in 2002 which you know more strongly tied the HRA to a traditional group health plan so since 2004 so people have always associated out-of-pocket deductible and out-of-pocket expenses this part of a group medical plan to being things that are can that can be only tied to an HRA so let me interrupt you there ingeras clarify for the listeners who don't understand so around 2000 as I write in my book the guide to buying health insurance in healthcare around the turn of the millennia a health insurance company started raising deductibles to me that's an effort for them to increase their their profitability by paying for less of your health care but you're still on the hook paying them they didn't grab their premium as much if at all but they went up on the deductibles so they showed that out-of-pocket responsibility they increase that on the pay on the behalf of the patients now what happened there is since that started creeping up what you're saying is the HRA is something that is really designed to help cushion that blow because if you have a two or three or five thousand dollar deductible offered through your employer-sponsored group health plan which that's what employee employer sponsored health insurer is if you have that high of a deductible then through an HRA vehicle your employer will actually pay for those qualified health care expenses so let's say you have a knee replacement or something you blow through the five thousand dollar deductible that you have through your group health insurance you're saying that if you have an HRA through your employer then the employer will pay five grand they will pay or they referred to as buying back the benefits right so you buy an inferior or perceived inferior health insurance plan with their very high deductible if you save on the premium creating a delta and the HR raise money that's thrown back at that deductible okay make it look less than the actual insurance product that was purchased by the health insurance company so I would you know I would say that the advent of HSAs and HRA is actually pour gasoline on the fire of exploding out-of-pocket expenses because the health insurance company said what you can just put in an HRA it's called consumer driven health plans so we're gonna jack up our-our deductibles for the plans that we put on the market right in some technique was premium a current new premium B creep that Delta which gives a pot of money that they can throw to the out-of-pocket expenses as a part of it investable so I did Oprah I'm thinking of an interesting question here that just popped into my mind and that is let's because I'm a huge advocate if you want to save money on your health care costs one of the best ways of doing it is really hiding the fact I'd like to say that you should lie and and hide the fact that you have health insurance when you go into a facility like for instance if you go into a place and ask for an MRI if you offer to pay cash you might find that MRI hopefully you should find that MRI for a few hundred bucks and you can get it right then and there if you try to get it through your health insurance it's gonna be significantly higher often in the thousands of dollars right exactly and if you have a high deductible health insurance plan then that means that either you or your employer is going to be on the hook for those thousands of dollars so here's the question I have now that I've set the stage this hall is very complicated right that's why we have yes yes but here's the question I have for you let's say that I have health insurance with a high deductible $5,000 deductible I have an HRA that's paid through my that promises to reimburse me employer for qualified medical expenses but let's say I want to be a nice guy and I want to save my employer money I want to save money myself I don't want to file it on my health insurance so I'm gonna go to the Imaging Center in that $5,000 MRI I'm gonna get it for five hundred dollars five hundred sit in that the actual price not the cost the charge so could I then submit that I know that I can submit that to again I know I can submit that for it is saying for reimbursement but can I submit that to my employer under the H depends okay it depends so it depends if you have an independent fiduciary third-party administrator pushing the paper on those claims okay if a health insurance company is administering that HRA for you know they're never gonna allow you to carve that out because again it's what's in the language of the HRA plan document if they say we're gonna reimburse deductible expenses then the answer your question is no because again they're trying to drive people to use their plan oh my god if the it's an independent freestanding HR administrator and you have a savvy broker like myself and you can say we'll worry worse any to 13d expense not tied to the deductible then sir you can have that HRA reimburse all out-of-pocket expenses and you incentivize them to exactly ask for the cash price because that HRA can then be used to reimburse that to 13d expense not necessarily a deductible the all deductible expenses are two thirteen d qualified not all – 13 d expenses are good octopod your deductible I understand I know basically so Savi employers would be wise to investigate who's handling this and what you're saying is if a third party administrator is handling the health benefits administering the help infants then it's highly it's more likely that an HRA arrangement could be used to reimburse the employee in this regard all right if it's if you're getting your if the if your all – if you're turning it all over to a health insurance company yeah fat chance on that because they keep it all in-house and and here's my take on this my conspiratorial take is they want to keep everybody hooked on health insurance they want to keep it all in-house as much as possible they can the health insurers do not want you setting foot outside because once you do you see the wide world you say wait a minute maybe health insurance isn't such a great idea after all not that I'm advocating dumping your health insurance folks not at all but there are all there are alternatives and there's many many different ways to skin a cat and having a 200 dollar deductible with a five dollar copay for your employees these days is ludicrous and you shouldn't be doing that so people like Tom or why do I have people like Tom on the podcast is to help out with these ideas to start as I say healthcare anomic sizz changing healthcare by changing the way you think about healthcare and health insurance in particular that's what we're talking about today so let's get into the whole president Trump thing and what he did and how's this going to change the landscape of what HRAs are and how they work yes so what ultimately all he did was the Internal Revenue Service was changed the tax code to allow for the same tax treatment that an employer would give employees through a group health plan and allows them to use that same tax treatment to give employees money to buy individual insurance okay so let's unpack that a little bit so explain what you mean by tax treatment so if you have a group health plan it can be an above the line deduction via section one one twenty five so that premium comes out of your paycheck tax-free so nobody pays taxes on that the employee correct the employer they don't pay taxes on that okay correct on the individual market prior to this ruling you could buy individual insurance but the premium payment that you would pay to the insurance company is a below-the-line deduction it's an after-tax expense so there was a disparity between how insurance was treated but purchased through an employer versus earns purchased on the individual market by the employee yeah so all HR a language that Reese cannot recently did was say okay you can take tax-free employer dollars in the form of an HRA contribution and make it available to employees who happen to buy individual insurance coverage okay you region acts parity between individual insurance purchasing and group insurance purchasing yeah so rich Weinstein and I we went over this in an episode of Obamacare exposed about how Obamacare the Affordable Care Act was set up with the intention being the very sly intention being to get people eventually get people off employer sponsored health insurance plans because they're not being taxed be correct the the IRS is missing out on tax revenue because of that and we we guessed now perhaps you know the answer better than we did but we guessed that each year the IRS is getting hit with approximately I want to say it's 300 billion dollars I'd forget them yeah I take issue with that I mean that assumes it's the IRS is money what I'm saying is that they're missing out on hundreds of billions of dollars in taxable revenue based upon this rule what is the rule that created this is I figured it was after World War two there was a certain rule that said health insurance premiums paid by employers are tax-free nobody pays taxes on there's no corporate tax on that money there's no employee tax on that money so as long as you as long as you're an employer and you offer your employees health insurance you get it tax-free they pay the premiums it comes off here as you say above the line deduction well that's very unfair to us individuals in small business owners who purchase our own health insurance because we got to pay the taxes on it correct and that's a huge way for the health insurance company the health insurance industry to keep people in the idea or to keep people in the in the corral if you will of group sponsored or employer sponsored health insurance plans which i think is bad because it it doesn't promote competition it doesn't promote a lowering of premiums and we've talked about that before but what Obamacare what the architects of Obamacare did was they said okay we're gonna use this thing called the Cadillac tax and we're gonna start out high but we're gradually gonna increase as premiums increase the Cadillac tax is going to slowly increase but eventually these things are going to reach a matching point where so many employers are going to have to get hit with this Cadillac tax they're gonna throw their hands up and they're gonna say hey listen folks here's some money go buy your own health insurance and then that shifts those plunk see even there was provision in the Affordable Care Act that disallowed that that they couldn't you couldn't commingle employer dollars with purchase and individual health insurance so so there was a provision that that didn't allow that I remember in 2014 even further 2010 we thought what this was going to be the end of employer sponsored insurance and employer just give him a stipend and everyone's gonna go to the exchange yeah buy their health insurance on their own and the benefit was going to be the employer contribution but I think it was the Department of Labor from not mistaken are the IRS I can't remember which agency said uh-uh you can't do that we're not gonna allow that because you're not we're not gonna allow you to co-mingle employer and employee funds when it comes to the purchase of individual insurance so again this is just as much as it is a directive to allow HOAs to buy individual insurance it's almost as much of a rollback on that original provision by the DOL or IRS from 2010 which disallowed it Wow so I'm I'm Wow there's a lot to unpack here so let's get this straight let's set the stage make it clear employers have been incentivized since after World War Two to provide health insurance for their employees correct because they pay that money to XYZ health insurer tax-free biggest tax write-off in the country in the nation because that's what I alluded to earlier the Treasury misses out on if I'm not mistaken it's hundreds of billions of dollars a year over a taxable revenue that gets shunted into health insurance premiums well I know that that it's probably a trillion dollars a year that gets spent on health insurance premiums by employers so you know hundreds three to three hundred billion dollars a year in actual taxes that would be realized by the Treasury is getting every year because of this rule that's been around since the 40s so Rich's point was within the Obama care exposed podcast that the Cadillac tax was going to try and get people get employers to shunk people into buying their own health insurance either employer-sponsored for employer paid for or employee individual paid for and as a result of that more tax revenue would be coming in to the to the Treasury every year correct but now so now you're saying that what President Trump has done via an executive order is he's not only expanded HR a availability for people but tell us what he's done regarding that tax issue are you saying now that individuals are gonna be allowed to go out and buy health insurance policies and not with previous employer dollars no the employer contribution because the only way to do it before this regulation was a gross up of salary hey your health insurance we think in this market based on where you're located is averaging about three hundred dollars so wait wait no judge no anomaly all to help but we're gonna give you a raise three hundred dollars a month yeah right okay ask you likely to use it for health insurance now you can't make the employees buy health insurance with it but they increase their salary by or hourly wage by three hundred a month that subjects that increase the payroll taxes right yeah seven and a half percent payroll tax so all the provision now has done is said hey you can give that employee 300 bucks you can actually dedicate it to individual health insurance reimbursement and that contribution that you're making for them is not subject to payroll tax Wow so so let me get this straight again so now what President Trump has done is said that employers guess what now you can give you instead of playing this game of under the title and wink-wink nudge-nudge now you can hand your employee an extra amount of money and say here go forth and buy your own health insurance plan correct it's on us here's an amount of money and it's not taxed is it the same as existed since World War two where nobody's paying tax on that number or the employee that's correct Wow okay that's that's pretty huge I think that's a great shake-up right if you ask me that's how it always should have been right you would be that's all what's you doing yeah well I'm all about tax deductions and everything else so yeah I think that you know if health insurances is tax-free for a certain group it ought to be tax-free for everybody now how many people across the country I've heard estimates on the news in the millions 15 mads objections like 11 million people could be impacted but in a positive 11 million employers are employees employees individuals why so few well a very good question is it just at any weighting is it just not that many employers offer HRAs these days yeah the biggest draw is gonna be your small mom-and-pop employers who are trying to retain employees and frankly you know a lot of people even when it came to full enactment of Obamacare 2010-2014 a lot of employers who have figured it out said listen we've done this forever we're not gonna pull back yeah yeah like what we're doing despite the cost right right how but we like taking care of our employees so they weren't impacted they were gonna roll with the punches and continue to do doing what they were doing so I think the projection is small because it with estimating that is primarily gonna be small employers yeah and it's gonna be those people who maybe kick the tires on offer a group plan but never had the wherewithal to do it are now gonna be pushed over the edge to where they're gonna say yes sure I'll give him a tax free site then no problem the interesting thing about it will because when this was gonna be rolled out it was it was accepted that this might be the wave of the future and there were a lot of studies done right around the time the Affordable Care Act was passed and I think the average contribution was estimated and my memories fuzzy a little bit but I think it was like 280 dollars on average and if an employer was gonna give 280 employees were actually gonna go out and not spend more than what their employer was interview right so even that's really by competition in frankly that's almost my fear this is a very good step but it almost is gonna drive people to very low cost and people are gonna shop the price and not pay attention to the benefits that have they're gonna become consumers yeah may or may not be a good thing but if there's nothing that we hope this does is it starts to lower the price lower the premiums of these policies as health insurance companies have to start competing for individuals business yep and Wow so this is along with the Association health plan stuff that President Trump did I think he's really taken a few jabs maybe even a good cross yeah this one body blow to the health insurance industry of course they don't want individuals I mean I see this as a win-win actually because the health insurers as long as the employer is perceived to be paying for it which the reality is the employees are missing out on the raise because the employer paying for the health insurance but as long as the employer is handing money out to the employee the employer is incentivized to do it because they still get the tax write-off the employees incentivize them to go out and buy health insurance as opposed to just giving them some money under the table wink-wink nudge-nudge and giving them money under the table which I can go out and buy an xbox with or whatever Iraq they want to so now the employees are going to go ahead and buy health insurance plans on the open individual market I just see it as a win-win-win the helps rural industry still gets business because unlike you know if if left up to people I mean I like this throw it on the statistic what did 90 percent of people who don't have health insurance also share in common they work they have jobs but they either work for a company that doesn't offer it or it's too expensive for them to buy it or a significant number of those 90 percent who don't have health insurance just choose not to buy it they say are not worth it I I need to get this I need to do that I need to do this and so they don't buy health insurance so I see it as a win-win-win all around so really the HRA thing and so here's my question for you so now for the first time I guess ever we're now saying that employers since the advent of HRAs have been able to share and they've been able to co-mingle employer employee dollars as far as health care costs through the HRA but as I like to say health care ain't health insurance to totally accept things so now you're saying that really for the first time the employer and employees can commingle money as regarding health insurance costs as well correct and so as this yeah yeah is this falling under the HRA provision or is this called a new thing or what wouldn't what is well there's something right now called the Kyocera it's called a qualified small employer HRA okay okay that has limits so thanks IRS for giving that opportunity back in 2016 but much like they always do what they give they take two steps back sure there are caps on what employers can contribute to a queue sarah and they limit what you can spend it on so in this case on a queue sarah you can use it for health insurance premiums or out-of-pocket expenses or both public expenses for healthcare correct okay okay section 213 me like I mentioned earlier I see but they were subjected to certain caps right from what I understand in the most recent legislation one it's not limited to a small employer to 250 and it's not limited to you know an employer that that does or doesn't offer group health insurance okay it's just giving another avenue or channel for employers to provide tax-free money to afford health insurance premiums yeah in this case specifically on the individual market Wow Wow I think it's I think it's a huge boost it's a huge written for for everybody involved now we'll see how much it takes off because it may be available to 11 million yeah well but I don't know that most health insurance brokers and benefits advisers out there are gonna really latch on to this efficient app they will but you know a lot of them are still making money off the good old fashioned status quo there yeah exactly 11 million potentially affected it'll be interesting to see how many shakeout and that's why we're doing this is to get the word out and get employers thinking differently because you need to find somebody like Tom yeah find somebody who will help you save money who works with you to save as much money as possible and who's completely honest and upfront with you Tom I love you so uh let's let's say this that how is it that President Chrome is able to pun intended Trump Obamacare and established law passed by Congress how is it that he's able to cross that line with the separation of powers and everything else constitutionally is this a constitutional thing that he's done with this border it's an administrative function okay you know I arrest and view all fun of the executive branch and okay now there was a comment period and he just exploited his ability under the legislative powers of the administrative state to change some provisions in the tax code okay so let me clarify for the viewers when I went to law school for a year I'm not a lawyer okay but one of the most fascinating things we discussed was the fiction and tyranny of administrative law and that is we elect Congress every so often we elect representatives and senators who are our suppose of legislative body right and they pass laws that have the force of law throughout the United States well unfortunately in the in the early 20th century I think it was the executive branch under the president's office started creating all these administration's like in FDA and USDA and the APA Department of Education created out Jimmy Carter I mean in all these administration's passed rules and regulations by let's call it what it is the deep state bureaucracy they get to pass mounds and mounds of rules and regulations that have the force of law and yet they're not passed by any elected representative so really we don't live in a representative or constitutional republic anymore that's represented where the laws it's sad are elected representative it's very sad john stossel does a great job of exposing this and showing just piles and piles of rules and regulations get passed every year um so basically what President Trump has done is what you're saying is that Congress passed Obamacare and it has the force of law but implementing that law enforcing that law falls to the IRS correct so in Obamacare and I've read every page of it came out but I I don't know how many times in there it says I don't know how many hundreds of times the Secretary shall yeah and this Terry Schappert Eanes to the HHS Health and Human Secretary on who falls under the executive correct so it says the Secretary shall dot dot dot right and Secretary shall whatever it comes after that is enforced by the IRS correct so what President Trump is done is said the Secretary shall not basically it's essentially right they took a comment period they took in comments from everybody right and then they said okay here's what the Secretary shall do we're gonna allow this and it's gonna be enforceable by your local friendly IRS agent absolutely beautiful so in all it for as far as we're concerned it's going to stand the test of time it's constitutional and there's really little danger of finding it going away any time it kicks off January of 2020 so this next open enrollment period if you're working with an agent or an adviser who's not saying to you hello mr. small employer instead of taking your 20% group increase fix your cost to this task you used to go out on their own health insurance and your cost is whatever you would like it to be don't you now it's like you and I have talked the other piece of this is the insurance still sucks so what we have to do now is pick up and say hey individuals not only employers pay attention to what you're buying that's right that's right and that go get to my colleague oh you that that goes to my point of hey man you got to do everything you can as a health care consumer as a patient to save money even if it means saying I don't have health insurance well Tom it's been great thank you so much I and one thing I do want to say to everybody before we go is that what I just said about this new rule this fantastic win-win-win for everybody it seems that standing the test of time it may only last until January of 2021 if we don't do our thing and invoked for the right person to lead us for the next four years so please everybody take to heart what President Trump is doing to help lower your health and and your healthcare costs it's phenomenal and unfortunately it's having to go around Congress to do it because they are not incentivized to do it but he is so Tom thank you so much I hope you'll come back please absolutely thanks I let's not be strangers so until then everybody stay healthy now you can easily compare health insurance plans and pick the one that makes the most financial sense with the doctor double use equation app available for Android and iPhone and for more information on how you can save on health insurance and health care check out my books available now on Amazon iTunes and Nook to help spread this message please click the like button on this video you can also subscribe to the healthcare anomic youtube channel and visit health care or nameks com

Price transparency in health care would save money for Americans | IN 60 SECONDS

**Price transparency in health care would save money for Americans | IN 60 SECONDS**



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POLL: Can Americans shop for medical services?

AEI’s James C. Capretta argues that the federal government can help Americans reduce their costs by facilitating transparent pricing.

ARTICLE — Toward meaningful price transparency in health care 

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Health care in America is expensive in
part because consumers do not play the same role that they do in other sectors.
Prices are high, and patients get many services that will not improve their
health. Consumers will be able to shop for non-emergency medical care only when
it is easy to compare prices on an apples-to-apples basis. In today's
complex and opaque market, that's not possible. The federal government is the
only entity with the reach and capacity to unlock pricing for consumers. That will
require two steps: First, the government should establish a required pricing list
for common interventions. The key is standardization to ensure comparability
across competing suppliers. Second, Congress should require insurance plans
to pay for all out-of-network services on the pricing list at their average
payments for those services. Consumers would get to keep the savings when
getting care with prices below the amounts paid by the insurers. These steps
would make it easy for consumers to shop for services and thus would encourage
providers to set their prices as low as possible. Is it possible for consumers to
shop for medical services under the right circumstances? Let us know in our
poll. Also, let us know what other topics you'd like our scholars to cover in 60
seconds, and be sure to like and subscribe for more research and videos
from AEI.