Healthshare programs have been growing rapidly over the last decade, thanks in part to their low cost. In today’s episode, Grant talks about what healthshare plans are, how they’re different from a conventional health insurance plan, and what you should consider before signing up for one. Stay tuned until the end of the episode, where Grant shares some tips for deciding whether healthshare is a good option for you.
[02:20] Insurance Basics – The insurance industry is complex and heavily regulated. Grant explains the functionality of insurance and some of the reasons why it’s tightly regulated.
[06:09] What is Healthshare? – How healthshare programs work and differences between healthshare and traditional insurance plans.
[09:44] Sharing Similar Values – One of the reasons why healthshare plans are less expensive is because the members have similar values and lifestyles. Grant reviews some of these similarities and common rules you have to follow to be eligible for a healthshare plan.
[11:19] Legal Status – A healthshare plan is not a legally binding insurance contract. Grant explains the legal background of healthshare plans and what they’re legally required to cover.
[14:23] Limitations – Limitations of a healthshare plan compared to a traditional insurance plan.
[17:39] Is It a Good Option for You? – Grant shares his take on how to decide whether a healthcare plan is the right decision or not, based on your lifestyle and health conditions.