Teaching Health Insurance to Kids

Video Transcript

"My name is Bill Rae. I'm a licensed agent and have been in the field for over two decades. And the question is, "How do we teach children about health insurance?" First of all let me say, excellent question. When we teach our children about health insurance, and we should, it's like teaching them about finance. I would recommend keeping it simple. When we talk about health insurance, there should aware of the types of health insurance that are out there, such as individual health insurance. Are they being offered health insurance through their group. And if they are, what types of plans is that group offering? Are they offering the high deductible programs? Are they offering the copay programs? Are they offering the dreaded HMO programs? Each one of them comes with different requirements, different coverages. So, again, you need to understand the contracts. You need to do a lot of reading, but more importantly, keep it simple. Just discuss with them what a deductible means, what their responsibilities will mean, and more importantly, read the contract. My name is Bill Rae, and I'm helping you build wealth."