Losing your health insurance, and setting financial goals

NerdWallet's Smart Money Podcast

NerdWallet Personal Finance

Business, Education, Investing, How To

4.2 • 665 Ratings

🗓️ 27 July 2020

⏱️ 32 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Losing your health insurance can expose you to medical bills that could bankrupt you. Most people can get subsidized coverage through HealthCare.gov. Also, setting financial goals requires thinking about what’s most important to you and then making a plan. As always, send us your money questions! Email [email protected] or call or text the NerdHotline at 901-730-6373. And visit www.nerdwallet.com/podcast for more info on this episode. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	Ready to launch your business? Get started with the commerce platform made for entrepreneurs.
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0:23.3	like you sign up for your one dollar a month trial at shopify dot com slash setup
0:32.6	welcome to the nerd wallet smart money podcast where we answer your personal finance questions
0:38.4	and help you feel a little smarter about what you do with your money. I'm Liz Weston. And I'm
0:43.1	Sean Piles. As always, be sure to send us your money questions. You can call or text us on the Nerd
0:48.1	Hotline at 901-730-6373. That's 901-730 Nerd. Or you email us at podcast at nerdwollot.com. And if you want more
0:58.8	nerdy goodness delivered to your device every Monday, slam that subscribe button. In this episode,
1:04.0	Sean and I discuss how to plan and actually achieve your money goals with the help of one of
1:08.9	our favorite nerds, Kim Palmer. But first,
1:11.8	in our This Week in Your Money segment, Sean and I dig into what to do if you've recently
1:16.6	lost your health insurance. Right. This is something that a lot of people are going to be
1:20.4	dealing with if they haven't already. Because of job losses between February and May,
1:25.6	5.4 million people in the U.S. lost their health insurance.
1:29.8	That's according to a recent report by Families, USA, a healthcare advocacy group.
1:34.2	And for some context, 3.9 million lost their health insurance due to the Great Recession between 2008 to 2009.
1:41.0	So in just a few months, more people lost their health insurance due to COVID than during the
1:45.3	peak of the Great Recession. These numbers are really staggering. They are staggering, and that
1:49.8	puts people at real risk because not having insurance means that you can be subject to just
1:56.1	bankrupting medical bills. And it's really difficult, and I really want to acknowledge how difficult and frustrating this entire process can be.
	...

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