Episode 007: Why Americans Pick the Wrong Health Insurance with Dr. Kevin Wacasey
One of the most important financial decisions Americans make every year is which health care insurance policy to carry. According to Dr. Wacasey, the health insurance industry has intentionally made the process seem incredibly simple in order to hide its devilishly complexity resulting in far more money spent than is necessary. He contends that by changing the nature of copays and deductibles, the industry has intentionally misled its consumers.
In this episode, we will discuss Dr. Wacasey's simple formula for determining the best health insurance options using only the annual premium, deductible, and out of pocket maximum. By using his formula he can potentially save you thousands of dollars each year.
We also discuss the value of health sharing as an alternative to insurance and whether or not it makes sense - even for people with insurance - to not use their insurance and pay cash. Spoiler alert: he explains how that process can save you piles of money.
Join me as Dr. Wacasey's folksy humor, vignettes, and aphorisms take you on a humorous journey to leave you better informed the next time you head into the health insurance market.
[caption id="attachment_1722" align="aligncenter" width="240"] Dr. Kevin Wacasey is the inventor of the aptly named "Wacasey Formula" to calculate health insurance purchases.[/caption]
show notes
The Guide of Buying Health Insurance: A self explanatory book by Kevin Wacasey, MD
Healthcareonomics 101: 500 Ways the You're Being Ripped Off by the Health Insurance, and Health Care Industries. Any Questions? A book of humorous aphorisms by Kevin Wacasey, MD
Healthcareonomics: Dr. Wacasey's blog about health care.
Kevin Wacasey's Personal Webpage
@HConomics: Dr. Wacasey's often hilarious twitter feed.
Episode 005: Where is All the Medicine? with Dr. Marion Mass. Referred to in the episode when discussing the root of rising drug costs.
Episode 002: How Direct Primary Care Direct Primary Care Made Me Love Medicine Again with Dr. Belen Amat
Episode 004: A Step-by-Step Guide to Starting a Direct Primary Care Practice with Dr. Chad Savage
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