9.25.19 Open enrollment; Massive airline fees; Hot deals today

The Clark Howard Podcast

Clark Howard

Business, Investing, Entrepreneurship

4.6 • 5.2K Ratings

🗓️ 25 September 2019

⏱️ 37 minutes

🔗️ Recording | iTunes | RSS

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Summary

We’re nearing open enrollment. If your employer offers the option of a lower payroll deduction for a high deductible health plan or higher pay deduction for a lower deductible plan – It’s usually best to pay the higher premium, especially if you have health issues. Due to backlash, more employers will offer the option to pay more for a lower out-of-pocket. High deductible plans can be HSA eligible – a tax-advantaged account for medical expenses. Many employees don’t fund their HSA – which allow medical payments with pre-taxed dollars. Then they’re hit with bills they must pay with after-tax dollars. Fund an HSA – it amounts to a 20 to 37% discount on medical bills – depending on your tax rate. It’s important to have disability insurance. You have a 3 times greater chance of becoming disabled than dying during your core working years. Social Security disability is an arduous, lengthy process and is often denied. Take what your employer provides for free and beyond that, buy your own policy. Airline junk fees amount to $35B per year – this is true will all airline except Southwest. American, United and Delta advertise low fares, and the sell you up to fares way higher with all kinds of fees. United alone charges a huge fee for carry on now, taking that cue from the hard discounters. Before you buy, know what all the fees are and what you can handle. Clark and Deals Producer Charis talk about a recent Clarkdeals.com survey and the best deals around the web today Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	May 2023, German Paper 1. Students should listen carefully to the recording,
0:06.9	read the questions and try to ignore the churning in their stomach, the shaking in their hands,
0:12.6	or the little voice that matters, do best I need your heart. Make sure they hear another voice
0:18.8	that asks, are you okay? That reminds them, you've got this. A proper chat can ease exam stress.
0:27.2	Britain Get Talking ITV.
0:36.3	Great that you're here on the Clark Howard Show because I hope that you can learn ideas to me
0:42.1	so that you're empowered with knowledge so you can keep more of what you make.
0:46.8	Coming up in just a few minutes, the airlines want to pick your pockets of the money you make.
0:52.4	I'm going to tell you in today's Clark Rage what you got to watch out for don't get burned by.
0:58.8	And coming up later, I want to give you an update there are a lot of deals today that I want to
1:05.9	make sure you know about so if you want to take advantage of the savings, you can save that money.
1:13.9	So we are just weeks away when a lot of employers start doing open enrollment.
1:22.2	We're further away, I guess we're six weeks away from when open enrollment comes online for you
1:31.6	if you have to buy your own health coverage. And I want you to know that this is part of a continuing
1:40.0	series where I'm going to talk about ways that you can make smart decisions with the benefits
1:46.6	you're offered by your employer or making decisions when you're responsible for your own benefits
1:52.5	yourself. So first things first, you know a lot of people have really suffered with the high
2:02.7	deductible health plans. Employers went to those so heavily because it was all this talk about how
2:11.1	we needed to be consumer driven to drive prices down that you would be incentivized to shop
2:18.7	around for medical care if you had to pay high deductibles. That was the idea. As I've talked about
2:27.1	in the past and I certainly well in the future, we're not being given the information up front
2:32.0	on pricing for that to really work out. But part of this is about employers feeling a burden from
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