WEBVTT - Ask HTM - Combining Our Finances, Dental Insurance Considerations, & When Whole Life Makes Sense #712 0:00:00.080 --> 0:00:02.960 Welcome to Head of Money. I'm Joel and I am 0:00:03.200 --> 0:00:06.120 Matt and today, of course it's Monday. We're answering your 0:00:06.160 --> 0:00:06.960 listener questions. 0:00:26.480 --> 0:00:28.800 Yeah, buddy, I had to say my name real clearly there, 0:00:28.840 --> 0:00:30.640 just to make sure everyone knew knew my name. I 0:00:30.680 --> 0:00:32.840 don't want anybody to forget about me, Joel. But we've 0:00:32.840 --> 0:00:35.080 got do you worry about that? We've got a listener 0:00:35.159 --> 0:00:38.519 question Monday episode lined up for folks. We've got a 0:00:38.600 --> 0:00:41.560 question from a newlywed couple. They've got a money question, 0:00:41.640 --> 0:00:45.720 specifically about combining their finances. Another listener is asking about 0:00:46.000 --> 0:00:49.240 dental insurance, wanted to know whether or not it's worth it. 0:00:49.560 --> 0:00:54.040 And another listener she has a less than ideal insurance product, 0:00:54.080 --> 0:00:56.320 and we're gonna talk about that. Plus we're gonna get 0:00:56.320 --> 0:00:57.320 to two additional questions. 0:00:57.360 --> 0:00:58.600 I feel like two of these questions are right in 0:00:58.600 --> 0:01:01.960 your wheelhouse because people always ask you questions about marriage 0:01:02.000 --> 0:01:04.040 and dental work, you know, because it's it's two things. 0:01:04.040 --> 0:01:05.560 You've got a lot of expertise on where'd you get 0:01:05.560 --> 0:01:08.520 yourdental work? So you no, oh man, this is all 0:01:08.640 --> 0:01:10.920 natural right here. So literally, I think we've even talked 0:01:10.920 --> 0:01:14.440 about this before sitting at a particular light nearish our house. 0:01:14.440 --> 0:01:17.600 There's this giant billboard and it's a billboard for I 0:01:17.600 --> 0:01:19.880 don't think it's a dentist. It's somebody that does Veneers. 0:01:20.840 --> 0:01:25.399 And they've got the most gnarly before and after pictures 0:01:25.680 --> 0:01:28.760 of these guys that I swear must have done meth 0:01:28.920 --> 0:01:31.760 or something like that. But their teeth. I hear that. Yeah, 0:01:31.800 --> 0:01:33.800 it looks I mean, their teeth look terrible. And then 0:01:33.800 --> 0:01:35.959 it's like twenty four hours later and it's a picture 0:01:35.959 --> 0:01:39.160 of this handsome dude and it's literally the exact same dude. 0:01:39.160 --> 0:01:42.640 It's crazy. The mirror dentistry. Yeah, what new teeth do? 0:01:42.720 --> 0:01:44.479 And the girls are like, is that really the same guy? 0:01:44.959 --> 0:01:48.720 I'm like, sweetie, I think it is. That's what Veneers do. Yeah, 0:01:48.760 --> 0:01:50.200 it's impressed. Because of that, I feel like we talk 0:01:50.240 --> 0:01:52.880 about dental work more than the average bear, more than 0:01:52.920 --> 0:01:54.800 the average family at home. But yeah, we are gonna 0:01:54.800 --> 0:01:55.680 get to those question. 0:01:55.600 --> 0:01:57.640 And just the heads up to listeners if you missed 0:01:57.720 --> 0:02:00.400 our announcement last week, we're taking listener questions every single 0:02:00.400 --> 0:02:02.200 Monday from here on out, and so if you have 0:02:02.240 --> 0:02:04.600 a money question, holler at us. You can always submit 0:02:04.640 --> 0:02:07.600 one at out how toomoney dot com, slash ask, or 0:02:07.680 --> 0:02:10.040 just email us with your voice memo. But we're gonna 0:02:10.040 --> 0:02:11.960 be taking a lot more double the listener questions we used, 0:02:12.160 --> 0:02:14.799 like a higher chance of your question getting answered. Yes, 0:02:14.840 --> 0:02:17.120 So please submit one. But Matt, real quick, I just 0:02:17.120 --> 0:02:19.560 want to mention my my buddy, Tim, our mutual buddy 0:02:19.560 --> 0:02:23.000 Tim He so I know that Tim. He did he 0:02:23.160 --> 0:02:26.360 booked a flight via Delta. And the thing about booking 0:02:26.360 --> 0:02:28.079 with the major airlines and not booking with one of 0:02:28.080 --> 0:02:32.919 the discounters, or specifically Southwest, is that there are change 0:02:32.919 --> 0:02:36.160 fees involved when you are, you know, looking to switch 0:02:36.200 --> 0:02:38.000 up your dates or your times or something like that, 0:02:38.480 --> 0:02:43.040 and often they're pretty inflexible. Uh, Southwest is great for 0:02:43.080 --> 0:02:44.160 that because. 0:02:43.880 --> 0:02:45.600 They can be and you know they've got that they've 0:02:45.600 --> 0:02:47.880 got a premium product, so like, we don't have to 0:02:48.400 --> 0:02:50.840 cave to your request, your demands. 0:02:50.880 --> 0:02:52.639 I guess that's what they think, at least right I 0:02:53.160 --> 0:02:56.720 personally impartial to Southwest, but he'd called anyway and he said, listen, 0:02:56.760 --> 0:02:59.359 I know this is like not your policy, but could 0:02:59.360 --> 0:03:00.000 you help a guy out? 0:03:00.480 --> 0:03:02.040 And old delataly, well. 0:03:01.919 --> 0:03:03.560 I mean, Delta probably doesn't want me revealing this, but 0:03:03.560 --> 0:03:05.720 Delta said, okay, sure, yeah, well yeah, they don't want 0:03:05.760 --> 0:03:07.400 other people doing this. But this is one of those 0:03:07.440 --> 0:03:10.000 things where we always talk about asking for a discount 0:03:10.080 --> 0:03:13.079 or asking for some help in one way or another, 0:03:13.440 --> 0:03:15.680 and lots of times a business like that is gonna 0:03:15.680 --> 0:03:17.880 be like no way. But if you ask nicely and 0:03:17.880 --> 0:03:20.440 if you ask the right person, you really might get help. 0:03:20.480 --> 0:03:22.120 You might get your flight changed without having to pay 0:03:22.120 --> 0:03:24.000 a fee. Like there are all sorts of ways that 0:03:24.040 --> 0:03:26.519 you can ask to be refunded for something or to 0:03:26.840 --> 0:03:29.680 change something about a service that you've received, and the 0:03:29.720 --> 0:03:31.800 worst they can do is say no. The worst that 0:03:31.840 --> 0:03:34.680 happens is that the policy as stated is what you 0:03:35.160 --> 0:03:38.040 is what you have to like abide by. 0:03:38.160 --> 0:03:38.720 So that's right. 0:03:38.840 --> 0:03:41.800 Just kudos to Tim for doing the right thing asking yeah, 0:03:41.800 --> 0:03:44.960 and encouragements everyone else out there listening, like, ask for 0:03:45.040 --> 0:03:45.640 the discount. 0:03:45.680 --> 0:03:48.040 Yeah. It gets to show that even though you know 0:03:48.160 --> 0:03:49.480 it's like, well, I know what the rules are, like 0:03:49.480 --> 0:03:51.160 they're going to say no, but you don't know what 0:03:51.200 --> 0:03:54.120 they just announced earlier that week, like what HR or whoever, 0:03:54.280 --> 0:03:57.160 like the performance folks, what they send out and what 0:03:57.160 --> 0:03:59.760 they're willing to make concessions on giving the industry, given 0:03:59.760 --> 0:04:02.560 what's going on, giving internal changes that might be have 0:04:03.160 --> 0:04:05.480 might be happening given what their earnings are that quarter 0:04:05.480 --> 0:04:06.960 where you're like, Okay, we got to turn things around. 0:04:06.960 --> 0:04:08.920 We're going to start making some concessions. 0:04:08.400 --> 0:04:11.040 Maybe like demands lower or actually they want to switch 0:04:11.080 --> 0:04:13.320 to you've heard is less packed, and so we want 0:04:13.400 --> 0:04:15.000 him to be on this other earlier flight. So we'll 0:04:15.040 --> 0:04:17.520 do it because it helps us out. You never know exactly. 0:04:17.600 --> 0:04:20.560 I love it. Yeah, it does not hurt to ask Joel. 0:04:20.600 --> 0:04:22.640 Let's introduce the beer. Are you ready for a big 0:04:22.640 --> 0:04:25.400 one here on this Monday always? This is a yeah, 0:04:25.400 --> 0:04:28.000 this is a bigger beer. This is Angel of Darkness 0:04:28.160 --> 0:04:30.800 by Wicked Weed. And what's crazy you can tell that 0:04:30.839 --> 0:04:33.680 this is Wicked Weed from a couple of years ago 0:04:33.680 --> 0:04:35.920 because it's like the old label because you know, they 0:04:35.920 --> 0:04:36.560 did a rebrand. 0:04:36.600 --> 0:04:39.359 That's a great thing about a good sour is sometimes 0:04:39.360 --> 0:04:41.520 it tastes better a few years left in the bottle. 0:04:41.560 --> 0:04:43.080 So we'll give our thoughts on this one at the 0:04:43.200 --> 0:04:43.800 end of the episode. 0:04:43.839 --> 0:04:44.440 It smells great. 0:04:44.480 --> 0:04:45.800 But Matt, let's get to the topic of hand. We're 0:04:45.800 --> 0:04:48.120 answering listener questions on this episode and let's get to 0:04:48.120 --> 0:04:50.920 the first one. This one is about your Pearly Whites. 0:04:51.600 --> 0:04:55.080 Hi'm Matt and Joel. This is Phil from Annapolis. I 0:04:55.120 --> 0:04:58.719 wanted to get your opinion on dental insurance. I know 0:04:58.800 --> 0:05:02.680 you've mentioned other financial instruments in the past, such as 0:05:02.760 --> 0:05:05.719 home warranties and so forth, and episode number seven hundred, 0:05:07.240 --> 0:05:09.640 I thought that you might have a unique take on 0:05:10.120 --> 0:05:14.320 dental insurance. From what I understand, most dental insurance does 0:05:14.360 --> 0:05:17.320 have a cap as what they pay out, and also 0:05:17.400 --> 0:05:20.320 there seems to be a fifty dollars deductible pretty frequently. 0:05:20.839 --> 0:05:23.720 So anyway, I welcome your input and thank you very much. 0:05:24.400 --> 0:05:26.039 I feel like Phil needs to take the mat route, 0:05:26.040 --> 0:05:29.360 which is not only avoiding dental insurance, but avoiding dental work. 0:05:30.240 --> 0:05:34.040 Just it has been ten years. Well, so I got 0:05:34.040 --> 0:05:35.840 my teeth checked out last was it last year? Is 0:05:35.920 --> 0:05:38.719 right before we moved, and it had been ten years 0:05:38.720 --> 0:05:41.080 before I had previously seen the seen the dentists. Well, 0:05:41.080 --> 0:05:46.280 your philosophy has always been today broke my teeth weren't broke. 0:05:46.680 --> 0:05:50.000 I mean, it depends on why do I need one? Hey, 0:05:50.040 --> 0:05:52.560 it's true, but it is a personal thing. Right, I'm 0:05:52.640 --> 0:05:55.960 lucky enough to have healthy teeth, healthy gums when I 0:05:56.000 --> 0:05:59.320 went last year, no Cavity's baby do So okay, let 0:05:59.320 --> 0:05:59.960 me throw let me. 0:06:00.080 --> 0:06:02.800 Some people are naturally predisposed to have clean mouth, I guess, 0:06:02.839 --> 0:06:03.600 and you're one of them. 0:06:03.680 --> 0:06:06.080 So here's the thing I might be assuming that all 0:06:06.080 --> 0:06:09.120 of our family members also have the same teeth as 0:06:09.360 --> 0:06:13.000 I do. So this is where the real fill I 0:06:13.000 --> 0:06:14.599 probably will get to your will answer your question here 0:06:14.600 --> 0:06:16.240 in a second. But Joel, so I haven't take We 0:06:16.279 --> 0:06:17.880 haven't taken any of the kids in to get their 0:06:17.880 --> 0:06:19.919 teeth checked. And our oldest is ten, she has not 0:06:20.040 --> 0:06:23.080 yet been into the dentist. Obviously, we've got younger kids 0:06:23.080 --> 0:06:25.800 as well, And so that's the potential frugal or cheap 0:06:25.960 --> 0:06:28.479 where I might wear Kate and I. It's both of 0:06:28.560 --> 0:06:30.839 us where we might be going a little cheap because 0:06:30.839 --> 0:06:33.039 we haven't taken them into the dentist. But it's also 0:06:33.120 --> 0:06:36.200 because in the state of Georgia, you need a certain 0:06:36.240 --> 0:06:37.719 form filled out in order for them to go to 0:06:37.720 --> 0:06:40.680 the public school. It's the Georgia Department of Health Form 0:06:40.760 --> 0:06:44.400 thirty three hundred. I know it because it's always kind 0:06:44.440 --> 0:06:46.719 of a battle to get your pediatrician to sign it, 0:06:46.760 --> 0:06:50.320 but they are authorized. They can sign off and say, oh, yep, 0:06:50.360 --> 0:06:51.240 I looked at their teeth. 0:06:51.279 --> 0:06:53.600 They're good, and I figure's so authorized to roll their 0:06:53.640 --> 0:06:55.400 eyes when you ask them to do it. They're like, 0:06:55.560 --> 0:06:56.640 just take your kid to the dentists. 0:06:56.640 --> 0:07:00.000 But I figure, if there's something bad enough that a ptry, 0:07:00.400 --> 0:07:01.200 your family. 0:07:00.920 --> 0:07:03.400 Doctor will be able to catch it. Sure, but at 0:07:03.400 --> 0:07:04.640 some point I do know there's. 0:07:04.440 --> 0:07:05.120 Something really wrong. 0:07:05.160 --> 0:07:07.720 Hopefully your patric shop like, dude, come on exactly and 0:07:08.120 --> 0:07:10.320 speak to you forthrightly. But at some point, yes, I 0:07:10.320 --> 0:07:10.680 do know. 0:07:10.880 --> 0:07:13.400 Everybody, don't send in the hate, noil I we will 0:07:13.440 --> 0:07:15.240 take our kids to the dentist, but it's a thing 0:07:15.240 --> 0:07:17.880 in our household. Literally, Kate Man, this is long winded. 0:07:18.160 --> 0:07:20.520 Last point. Did did I have I shared that Kate 0:07:20.560 --> 0:07:22.480 got me dental tools for Christmas last year? 0:07:22.520 --> 0:07:22.600 No? 0:07:22.840 --> 0:07:24.360 Did I have ever even told you this? 0:07:24.400 --> 0:07:24.440 No? 0:07:24.520 --> 0:07:26.040 I didn't know that. It was like a stocking stuffer. 0:07:26.120 --> 0:07:29.280 It was like a joke, but literally like the little 0:07:29.320 --> 0:07:31.480 pick with like little scraper she got me a little 0:07:31.640 --> 0:07:33.160 like it was a pack that you could buy of 0:07:33.240 --> 0:07:36.760 dental tools. And I'm like, babe, you're just you're taking 0:07:36.800 --> 0:07:38.920 things a little too far here, because I'm not going 0:07:39.000 --> 0:07:41.360 to like poke my up myself in the gun, you know, 0:07:41.400 --> 0:07:43.560 like that's like the painful part. Let me reinforce getting 0:07:43.560 --> 0:07:47.000 your Partically, anything you hear on this podcast should not 0:07:47.080 --> 0:07:49.760 be done for batim. You should listen to the advice 0:07:49.760 --> 0:07:52.960 of a trusted medical professional. And I have not used 0:07:52.960 --> 0:07:55.080 these tools. I'm just saying it, Okay, I think it 0:07:55.120 --> 0:07:58.120 was part joke, part he actually might want to give 0:07:58.200 --> 0:08:00.480 us a shot. So let's get it. Let's get to 0:08:00.520 --> 0:08:01.120 Phil's question. 0:08:01.200 --> 0:08:03.240 Sorry, Phil, let's get to it and specifically talk about 0:08:03.320 --> 0:08:05.640 dental insurance and our thoughts on it. Monetarily, we won't 0:08:05.880 --> 0:08:09.320 let insurance that's not dental care. Lack of desire to 0:08:09.360 --> 0:08:10.960 go to the dentist impact our advice here. 0:08:11.080 --> 0:08:12.720 I don't mind it, actually, I don't. Yeah, like when 0:08:12.720 --> 0:08:14.960 I go into the dentists, it's actually I think I 0:08:15.000 --> 0:08:17.400 almost view it like you getting a massage where somebody 0:08:17.520 --> 0:08:20.840 is working on me making so weird, healthier and better. 0:08:20.880 --> 0:08:22.560 You're the only person who thinks that. I think. Do 0:08:22.560 --> 0:08:23.680 you feel that way when you get it to get 0:08:23.680 --> 0:08:25.960 your cartooned up? Like I feel so good after getting 0:08:25.960 --> 0:08:27.600 my car tune decks? I'm just like, oh man, this 0:08:27.640 --> 0:08:29.160 thing is perfect, and I'm glad I did it, But 0:08:29.360 --> 0:08:31.920 in the moment, I'm like, this is painful from not 0:08:32.520 --> 0:08:33.120 terribly painful. 0:08:33.160 --> 0:08:35.240 My teeth are frying too. But uh, okay, let's get 0:08:35.240 --> 0:08:38.160 to Phil's question. And first the question is like, how 0:08:38.200 --> 0:08:39.880 are you getting this dental insurance policy? 0:08:40.000 --> 0:08:40.160 Right? 0:08:40.280 --> 0:08:43.080 That's true because if it's subsidized through your employer, it's 0:08:43.120 --> 0:08:45.600 likely still worth it because you're paying a fraction of 0:08:45.600 --> 0:08:48.200 what it actually costs to have that insurance. But if 0:08:48.240 --> 0:08:51.480 you're buying it as an individual, it's it's not nearly 0:08:51.520 --> 0:08:54.160 as important as you as you think. From specifically, from 0:08:54.160 --> 0:08:56.319 the financial perspective, it doesn't mean that you shouldn't go 0:08:56.360 --> 0:08:58.760 see the dentists, but it means that you're you might 0:08:58.800 --> 0:09:01.400 not need the insurance, you might not come ahead having 0:09:01.520 --> 0:09:05.559 that insurance. And so, like all insurance policies, the specifics matter. 0:09:05.960 --> 0:09:08.360 Health insurance is a no brainer for most people, and 0:09:08.400 --> 0:09:11.319 not because it allows you to get cheaper prescription drugs 0:09:11.480 --> 0:09:14.640 or you know, doctor's visits with a cope. We should 0:09:15.040 --> 0:09:16.800 do away with cope is in my estimation, I don't 0:09:16.800 --> 0:09:19.280 think it's a good part of the insurance system. But 0:09:19.320 --> 0:09:21.280 the whole reason to have medical insurance is because how 0:09:21.280 --> 0:09:24.160 you're going to be covered if something catastrophic were to happen. 0:09:24.280 --> 0:09:26.679 The annual out of pocket limit is like the best 0:09:26.720 --> 0:09:29.760 benefit you have. That's the best part of health insurance. 0:09:29.840 --> 0:09:32.720 Knowing that you're not on the hook beyond a certain amount. Yes, 0:09:32.840 --> 0:09:37.000 you get the worst, most devastating diagnosis, a life threatening 0:09:37.080 --> 0:09:40.520 disease or injury, and you know the hospital bills could 0:09:40.559 --> 0:09:42.959 rack up, and saying guess what, I'm capped at ten 0:09:43.040 --> 0:09:45.320 K or twelve K out of pocket for my family whatever. 0:09:45.520 --> 0:09:47.959 That annual out of pocket max is your saving grace. 0:09:48.320 --> 0:09:51.640 It's not the wellnesses or checkups that allow you to 0:09:51.640 --> 0:09:54.439 come out ahead, because cash payers actually often do pretty 0:09:54.440 --> 0:09:57.960 well for themselves pricing wise. So I would say this, Phil, 0:09:57.960 --> 0:09:59.720 I would say, don't be afraid to ask your dentist 0:09:59.760 --> 0:10:02.280 office for discounts for paying in full when you get 0:10:02.280 --> 0:10:03.120 the procedure done. 0:10:03.280 --> 0:10:05.040 Be like old tim Yeah, never hears it. 0:10:05.120 --> 0:10:07.920 Ask unless you have this like massively discounted dental insurance 0:10:07.920 --> 0:10:09.840 policy through your work, which in case, like I said, 0:10:09.840 --> 0:10:12.320 it might make sense, but if you're looking at buying 0:10:12.320 --> 0:10:14.800 one on your own on the open market, it might 0:10:14.800 --> 0:10:17.520 make sense instead to deal directly with your dentist for 0:10:17.800 --> 0:10:18.760 the work you need to get done. 0:10:18.920 --> 0:10:22.520 Yeah. I like that direct to patient model too. And 0:10:22.800 --> 0:10:25.199 is it the concierge medical services that are starting to 0:10:25.720 --> 0:10:27.560 crop up? But yeah, I totally agree. 0:10:27.559 --> 0:10:27.679 Man. 0:10:27.880 --> 0:10:30.360 The thing that makes health insurance so crucial like that 0:10:30.440 --> 0:10:32.760 is the same thing that makes dental insurance far less 0:10:32.880 --> 0:10:35.199 necessary because most people are just using their dental insurance 0:10:35.280 --> 0:10:37.400 to lower the cost of their routine visits. Right to 0:10:37.400 --> 0:10:39.400 get a free cleaning except for your paying for the 0:10:39.400 --> 0:10:41.480 premiums you know, throughout the year. It's like a credit. 0:10:41.480 --> 0:10:43.360 You're like pre paying. It's like it's like you've joined 0:10:43.360 --> 0:10:44.800 some sort of dental club and you've all agreed to 0:10:44.840 --> 0:10:47.440 keep your teeth extra straight and white, right, something like that, 0:10:47.480 --> 0:10:50.280 which is fine, But I'm just saying there's something to 0:10:50.280 --> 0:10:52.880 be said for the British model where everyone's got crooked teeth. 0:10:53.040 --> 0:10:57.280 What's ConTroll with that? Come on? But so, yeah, if 0:10:57.280 --> 0:10:59.520 you're getting your teeth cleaned, you know your insurance it 0:10:59.559 --> 0:11:02.360 might cover the cost. Actually, there's there's basically like one 0:11:02.480 --> 0:11:05.679 hundred and eighty fifty model, right, so it's one hundred 0:11:05.760 --> 0:11:07.720 Like if you're going in for routine maintenance like just 0:11:07.760 --> 0:11:09.800 a cleaning, they typically cover one hundred percent of it. 0:11:09.840 --> 0:11:11.640 If you even have a cavity a lot of plans 0:11:11.760 --> 0:11:13.520 they only cover eighty percent of that. But if there's 0:11:13.520 --> 0:11:16.720 something even bigger, like something more catastrophic like a crown 0:11:16.800 --> 0:11:20.040 or something, they only cover fifty percent oftentimes of that procedure. 0:11:20.040 --> 0:11:21.080 So sometimes even less. 0:11:21.080 --> 0:11:24.040 Lot of times it's twenty And it really depends on 0:11:24.120 --> 0:11:25.960 the policy, which is why the details are moth exactly. 0:11:26.040 --> 0:11:27.640 But like I had something that where my Dennis was 0:11:27.640 --> 0:11:31.360 recommending that I get some sort of mouthguard, but it 0:11:31.400 --> 0:11:33.599 was no. The insurance company then said, and this was 0:11:33.640 --> 0:11:36.079 back when I had traditional health interants in my employer, 0:11:36.320 --> 0:11:39.240 they said, actually, this is orthodontic, and we only cover 0:11:39.360 --> 0:11:42.480 orthodontia stuff up until you're eighteen or twenty five. Everget 0:11:42.679 --> 0:11:44.080 I was like, I'm much older than that now, so 0:11:44.640 --> 0:11:45.480 you're not going to cover it. 0:11:45.600 --> 0:11:46.920 It's just a part of it. Like at the same 0:11:46.920 --> 0:11:49.760 mouthguard at like the sports score like the football players. 0:11:49.920 --> 0:11:52.720 Yeah right, so, and so I literally did buy one 0:11:52.760 --> 0:11:54.800 on Amazon and I can live that. What it was, Yeah, 0:11:54.800 --> 0:11:56.920 where you like take the measurements or you take the 0:11:56.920 --> 0:11:59.000 impression in your mouth. Yeah, okay, nice but it's one 0:11:59.000 --> 0:12:02.200 of those things where you don't know sometimes how your 0:12:02.240 --> 0:12:03.920 insurance is going to classify it, or what work you 0:12:03.960 --> 0:12:05.960 need to get done and what percentage is covered at. 0:12:05.960 --> 0:12:08.120 That's why it's important to dive into the details. Yeah, 0:12:08.120 --> 0:12:10.400 the key question to ask before you opt in to 0:12:10.800 --> 0:12:13.240 go out there and maybe get dental insurance if you're 0:12:13.240 --> 0:12:15.320 so inclinent, is what your premiums are going to be, 0:12:15.720 --> 0:12:18.599 and then what the policy covers. Because if let's just 0:12:18.600 --> 0:12:20.600 say a routine cleaning it costs hundred and fifty bucks, 0:12:20.880 --> 0:12:22.360 and then your plan, let's say it costs you three 0:12:22.440 --> 0:12:24.920 hundred dollars a year in premiums, and say you're only 0:12:25.000 --> 0:12:27.560 allowed you're only able to get cleaning done like once 0:12:27.600 --> 0:12:29.640 a year or something like that. Well, for you in 0:12:29.679 --> 0:12:31.959 this specific instance, the insurance, it probably doesn't make a 0:12:31.960 --> 0:12:32.600 whole lot of sense. 0:12:32.679 --> 0:12:35.800 Yes, And like Phil alluded to, Matt, dental coverage usually 0:12:35.800 --> 0:12:39.520 has an annual max payout and certain procedures have ridiculously 0:12:39.600 --> 0:12:42.600 high co insurance payments, and so dental insurance is a 0:12:42.600 --> 0:12:45.240 case where ditching it and opting to self insure really 0:12:45.240 --> 0:12:47.559 can make a lot more sense. So instead of paying 0:12:47.880 --> 0:12:50.120 for a portion of the work being done. Just pay 0:12:50.160 --> 0:12:52.280 the full price of the cleaning, the cavity fill, whatever 0:12:52.320 --> 0:12:54.680 it is. The premium money you've been able to save 0:12:54.679 --> 0:12:57.720 by canceling your insurance policy, funnel that into a savings 0:12:57.760 --> 0:12:59.920 account to pay for those procedures that you need done. 0:13:00.120 --> 0:13:02.880 Plus it allows you this added flexibility being able to 0:13:02.880 --> 0:13:05.360 shop around before you actually go in to see the doctor. 0:13:05.679 --> 0:13:07.800 But again, so much of the equation comes down to 0:13:07.840 --> 0:13:09.839 your own dental needs, the price and the coverage. So 0:13:10.360 --> 0:13:13.959 it's not like we're mass recommending everyone to ditch dental insurance, 0:13:14.000 --> 0:13:16.640 but it just really depends on the individual and depends 0:13:16.679 --> 0:13:18.319 on your own dental needs. 0:13:18.360 --> 0:13:21.800 That's right. Yeah, Okay, So one interesting additional option if 0:13:21.800 --> 0:13:24.600 it's looking like you might need more significant dental work 0:13:24.640 --> 0:13:29.080 done is medical tourism, which sounds kind of crazy, but 0:13:29.120 --> 0:13:31.120 it's actually becoming more and more more popular. 0:13:31.280 --> 0:13:34.439 My preferred destination Antarctica. Yeah, the Polar Bears work. 0:13:34.440 --> 0:13:38.360 Okay, it's becoming more popular specifically because because it's becoming 0:13:38.360 --> 0:13:40.760 more affordable to go to another country to fly and 0:13:40.800 --> 0:13:43.959 pay for medical procedures, specifically dental care. 0:13:43.960 --> 0:13:45.439 In this case, oftentimes you're able to stay in a 0:13:45.480 --> 0:13:48.079 nice hotel on the beach kind of thing. And that's 0:13:48.280 --> 0:13:49.040 timber one way. 0:13:49.240 --> 0:13:52.320 Way nicer than just running an errand, and you know, 0:13:52.480 --> 0:13:54.640 like make a make a trip out of it. Sure, 0:13:54.640 --> 0:13:56.680 literally we've talked about was it with Marshall Allen. We 0:13:56.679 --> 0:14:00.199 talked about Molar City. We talked down to Mexico. Yeah, 0:14:00.200 --> 0:14:02.840 down in Mexico that people are crossing the border to 0:14:02.840 --> 0:14:05.000 get solid dental work done at a fraction of the 0:14:05.000 --> 0:14:09.040 price costa Rica. That's another top destination. But for you 0:14:09.120 --> 0:14:11.960 run the numbers because you know, even after paying for 0:14:12.000 --> 0:14:14.480 the airfare, paying for the hotel, not to mention if 0:14:14.520 --> 0:14:16.160 you're able to get it at a discount because you 0:14:16.240 --> 0:14:18.520 got points. But it might make sense to get on 0:14:18.559 --> 0:14:21.360 a plane get some dental work done abroad. And you 0:14:21.400 --> 0:14:24.480 definitely don't need dental insurance in order to do this 0:14:24.920 --> 0:14:28.160 in order to partake. It's the medical tourism. So we 0:14:28.200 --> 0:14:30.800 want you Phil to take care of this Jompers man. 0:14:30.800 --> 0:14:33.520 But figure a disclaimer here. Floss every day, brush it 0:14:33.560 --> 0:14:35.400 brush twice a day, maybe three times a day, like 0:14:35.640 --> 0:14:37.280 do those things you lost every day. That's the biggest 0:14:37.320 --> 0:14:38.840 kind of insurance. It's kind of like I'll get to 0:14:38.920 --> 0:14:41.600 that one stone. It's kind of like the cell phone case, 0:14:41.720 --> 0:14:42.560 like the case yourself. 0:14:42.560 --> 0:14:44.960 Preventative medicine is always is always the best. 0:14:45.040 --> 0:14:47.160 You don't need the expensive insurance coverage. If you can 0:14:47.200 --> 0:14:49.240 take a prevention is worth a pound of cure. And 0:14:49.240 --> 0:14:51.160 does that mean that your phone will never ever get 0:14:51.160 --> 0:14:53.320 a cracks screen. No, but you've done ninety percent of 0:14:53.360 --> 0:14:55.800 it for the cheapest possible price, and so that is 0:14:56.000 --> 0:14:57.320 that's the thing to do as long as you're If 0:14:57.320 --> 0:14:59.520 you're doing those main things every day and going to 0:14:59.560 --> 0:15:03.240 see it for ess often enough, I think you can 0:15:03.440 --> 0:15:06.000 ditch dental insurance. You don't need it, but run the numbers. 0:15:06.040 --> 0:15:08.960 Run the numbers, and I floss twice week, Okay, I 0:15:08.960 --> 0:15:09.960 should floss every day. 0:15:10.040 --> 0:15:12.640 Yeah, I've been doing it more regularly because my daughter 0:15:12.640 --> 0:15:14.000 and I were like talking about it, UNTI. We're both 0:15:14.040 --> 0:15:16.240 kind of trying to well with kids. You want to 0:15:16.240 --> 0:15:18.560 instill the habit, but their teeth are their little mouths. 0:15:18.600 --> 0:15:20.280 But then their teeth are so far apart. They're like, 0:15:20.280 --> 0:15:22.320 why would you floss? I'm like, food gets in between 0:15:22.320 --> 0:15:24.920 your teeth and they're like, no, it doesn't. I'm like, what, 0:15:25.120 --> 0:15:27.080 show me your teeth open and I'm like, oh yeah, 0:15:27.120 --> 0:15:29.080 there's like, let me poke around with this fisher, but 0:15:29.120 --> 0:15:31.440 your mom got me. It's all it's all gappy in here. 0:15:31.440 --> 0:15:33.160 You don't have your grown up teeth yet. Yeah, but 0:15:33.200 --> 0:15:36.080 it's still get a instill some of those habits. On 0:15:36.120 --> 0:15:38.360 a related note, Kate just bought do you okay? Do 0:15:38.440 --> 0:15:40.360 y'all use string floss that you wrap around your fingers 0:15:40.400 --> 0:15:43.680 or do you use flossers? So they just like they 0:15:43.720 --> 0:15:45.120 make it so easy. They make it easy and fun. 0:15:45.160 --> 0:15:45.360 They do. 0:15:45.400 --> 0:15:46.920 I used to always talk a little more, but it 0:15:46.960 --> 0:15:48.880 makes it more likely that I'm gonna do it. 0:15:48.880 --> 0:15:50.760 You buy the bolt pack at Costco, which is what 0:15:50.840 --> 0:15:53.440 Kate did. Anyway, I'm a recent floss or convert. I'm 0:15:53.480 --> 0:15:55.120 a fan. There you go. Yeah, I'm doing it way 0:15:55.120 --> 0:15:56.000 more often because of that. 0:15:56.360 --> 0:15:58.680 Nice are We've got more questions to get to fill. 0:15:58.760 --> 0:15:59.480 I hope that helps. 0:15:59.720 --> 0:16:02.360 And talk about other body parts now yeah, yeah, well yeah, 0:16:02.360 --> 0:16:03.720 this is really going to we're going to dive down 0:16:03.720 --> 0:16:04.920 the medical rabbit hole in a big way. 0:16:04.960 --> 0:16:06.840 Well, we're going to talk about life insurance in a second. 0:16:06.880 --> 0:16:10.000 And that's like you know something you need if you die, well, 0:16:10.000 --> 0:16:12.000 but what kindy you need? And can you get too 0:16:12.080 --> 0:16:14.320 much or something that's too expensive. We'll talk about that 0:16:14.440 --> 0:16:15.480 and more right after this. 0:16:25.120 --> 0:16:26.720 All right, man, we are back from the break, and 0:16:26.840 --> 0:16:29.280 yes we will get to that question on life insurance. 0:16:29.280 --> 0:16:30.760 But first, let's here from a listener who has just 0:16:30.800 --> 0:16:34.080 recently gotten to money Gear number five. 0:16:35.080 --> 0:16:38.560 Hi, Matt and Joel, this is Renee from Pennsylvania. First time, 0:16:38.680 --> 0:16:41.680 long time. I love your down to earth advice and 0:16:41.720 --> 0:16:43.840