Working Wealth Podcast

Most People Have No Idea How Their Health Insurance Works

Episode Summary

Most people don't think about health insurance until they're forced to — and by then, it gets expensive fast. Patrick Rogers and Josh Crumley of HealthMarkets break down ACA marketplace plans, private coverage, Medicare, and the 2026 subsidy cliff. If you're self-employed, retiring before 65, or losing employer coverage, the rules just changed — and this episode explains what that means for your financial plan.

Episode Notes

Most people don't think about health insurance until they're forced to — and by then, it gets expensive fast. Patrick Rogers and Josh Crumley of HealthMarkets break down ACA marketplace plans, private coverage, Medicare, and the 2026 subsidy cliff. If you're self-employed, retiring before 65, or losing employer coverage, the rules just changed — and this episode explains what that means for your financial plan.

 

Topics covered:

ACA marketplace vs. private insurance · Health insurance before Medicare at 65 · The 2026 ACA subsidy cliff · Medicare planning basics · Deductibles and out-of-pocket costs · Healthcare costs in retirement · Health sharing ministries · COBRA and coverage gaps · Common insurance mistakes · How health insurance affects your overall financial plan.

 

00:00 – Intro & Podcast Disclaimer

00:38 – Meet Josh Crumley & Why Health Insurance Matters

01:28 – Why Health Insurance Feels So Complicated Today

02:45 – The Different “Buckets” of Insurance Plans

05:00 – Why Premiums Have Changed So Much

07:58 – ACA Plans vs Private Insurance

10:45 – Health Sharing Ministries & Alternative Options

13:40 – What People Need to Know About Coverage Limits

16:25 – Provider Networks Explained

19:15 – Understanding Deductibles, Copays & Out-of-Pocket Costs

22:05 – What Happens If You Don’t Have Coverage

24:50 – Emergency Care, Hospitals & Financial Risk

27:25 – Why Healthy People Still Need a Strategy

30:10 – Healthcare Costs & Retirement Planning

32:55 – Medicare Basics & Planning Ahead

35:30 – How the Industry Has Changed Over the Years

38:15 – The Biggest Mistakes People Make With Insurance

40:40 – Planning for Future Healthcare Expenses

43:40 – Long-Term Care & Aging Considerations

46:30 – Final Thoughts on Flexibility & Financial Planning

49:00 – Where to Learn More & Closing Thoughts