02.21.23 Medical Bills And The No Surprises Act / Starting Your Emergency Fund

The Clark Howard Podcast

Clark Howard

Investing, Entrepreneurship, Business

4.6 • 4.9K Ratings

🗓️ 21 February 2023

⏱️ 28 minutes

🔗️ Recording | iTunes | RSS

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Summary

The No Surprises Act became law last year to eliminate surprise medical billing, but most people don’t know what it is and what their rights are under it. Clark lays it out so you know your new rights when it comes to medical bills. Also - how much if anything, do you have in your emergency fund? Clark has a way for you to be better prepared for the inevitable rainy day. The No Surprises Act & Your Rights: Segment 1 Ask Clark: Segment 2 Your Rainy Day Fund: Segment 3 Ask Clark: Segment 4 Mentioned on the show Patients Still Receive Surprise Medical Bills, Including for Medical Laboratory Testing, Despite Enactment of Federal No Surprises Act That Became Law on Jan. 1, 2022 Understand your rights against surprise medical bills - CMS Rocket Mortgage - Physician Loans: Are They A Good Mortgage Option For Doctors? Bankrate's Annual Emergency Fund Report | Bankrate Emergency Fund: Everything You Need to Know Fidelity Investments Review 2022: Pros & Cons Money market funds - Fidelity Investments The Monte Carlo Simulation: Understanding the Basics Clark.com resources Episode transcripts Clark.com daily money newsletter Consumer Action Center Free Helpline: 636-492-5275 Learn more about your ad choices: megaphone.fm/adchoices Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	Monso Business Banking. It just works. So you can too. Join businesses like Target
0:05.7	to Wishing by opening a Monso Business account.
0:07.7	What I love about Monso Business account is how easy everything is. It can be filtered,
0:12.8	it can be tagged. We thought we'd have to manage our business around our banks, but that's
0:17.3	not the case with Monso.
0:18.4	My name is Shun. I am the Founder of Target Trition.
0:21.6	Apply in minutes at Monso.com slash business. To apply you must be a sole trader or director
0:26.6	of a limited company, UK Businesses Only, terms and conditions apply.
0:30.1	I'm so glad you're with us here on the Clark Howard Show. Our mission is to serve you and
0:40.0	empower you. So you might better financial decisions in your life. Something we deal with in our
0:45.8	lives, all of us at some point, the healthcare system.
0:50.4	The No Surprise Act, which became law last year, is something that I'm surprised, but almost
0:57.4	nobody knows that the law exists. In fact, one survey I saw said that less than 15% of Americans
1:05.0	didn't even heard of the No Surprise Act. I want to tell you what it means to you and your
1:11.4	wallet. Also on today's show, how much, if anything, have you been able to put aside
1:19.1	in an emergency fund? We're going to talk about that. So the No Surprise Act was passed
1:26.8	and took years to go into effect because people who have insurance and go in network for
1:34.6	care can end up getting stray medical bills that are now in most cases illegal. And survey
1:44.2	says one in five people typically survey was done by morning consult. One in five people
1:51.4	have been hit with a surprise medical bill. The idea of this is let's first deal with
1:58.4	emergencies. If you have a true emergency and you go to a hospital not in your network,
2:07.4	you were supposed to be built based on what it would be in your network. But that's not
	...

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