Health Insurance During Graduate School? ( Should You Get Private Healthcare Coverage During A PhD?)



hello this is dr. Nathan mess slag talking to you about reciprocity comm the e is written with a three and in this particular video I want to talk about getting health insurance during graduate school whether you should get health insurance during graduate school so if you don't know me and a professor of innovation strategy and entrepreneurship and I created this whole reciprocity project to give back as much as I possibly can there are so many people that helped me out during graduate school that I want to create something that was larger than me that helped out a lot of other people so I did this sort of sharing economy proofreading platform thing that I built out that's reciprocity and then now I'm doing these YouTube videos to help get the word out alright so health insurance during graduate school should you get it and should you not yes you should definitely get health insurance during graduate school I'm never ever gonna recommend that but there's certain reasons behind it are probably different than what you hear about in terms and it's a little bit more specific towards graduate school why you should get health insurance so I came from Canada and let's just start off there and they have universal health care there so we didn't have to make a lot of these decisions however there was something unique they didn't have sort of pharmaceutical and dentist care or anything like that right so it's a little bit different than what they have in the United States all those were private and I chose not to get the pharmaceutical you know insurance which was so stupid at the time now I look back and I'm like that was really poor decision making for a lot of different reasons and then but the dentistry and I choose not to get my own health insurance even now because it just doesn't sort of that the marketplace doesn't really it doesn't quite make sense with insurance at this moment in terms of how it is you know priced out so I've done this analysis a fair bit and it just doesn't quite make sense but with health insurance particularly United States you have to make sure that you have health insurance particularly as a you know it's a graduate student so you should get enough money to pay for adding your stipends that you get to pay for health insurance and you should look for ones that are gonna reduce the amount of stress and anxiety that you have so there's two major reasons why I'd recommend this in graduate school um the first one being is yes okay you get good programs and stuff like that or a health care programs at any particular University within the United States but they're just they take care of you and they generally do at any reputable university they're gonna take care of you and give you options that are decent however it is when you're in graduate school most people don't realize this but you're you're way more prone to get some sort of injury because what you're doing is really your said eteri for a long time so you're used to for most of us you're used to kind of moving around and kind of doing your thing and then you go to graduate school and all of a sudden you're like see you like sit down and you sit there forever for a long period of time and then every once in a while you're like I'm gonna go do some exercise go do some exercise after sitting around for you know a couple of days and then you're else and you're prone to injury so a lot of people the vast majority of people I know a they're gonna gain weight during graduate school which is I mean it's got health care issues associated with that and as you know they are B they are going to I mean experience depression and and things like that that's absolutely normal to go through that I know it's miserable to sort of say that but that's truly as normal to go through depression during graduate school and anxiety and things like that sort of mental healthcare kind of stuff mental health stuff and then seeing your because you're sedentary and then you do exercises you're prone to getting different injuries like you know I had I D been issues going on with my legs I you get like neck issues you I pulled a muscle in my back after going to the gym and you know that you knows months that it was I I couldn't do anything when it became an assistant professor I ended up herniating a disc in my back and you know all these kind of things and that's totally normal everybody know that does this unless there are extraordinary in some sort of way extraordinary athletic or extraordinary sort of their body just works everybody I know kind of experience these these kind of things and they go through all this kind of health care issues so and very very important because of that because you're just gonna go through your highly prone you're much more prone during graduate school or doing the work that you're doing to get injuries and those kind of injuries right like because you're sitting around doing nothing and then all of a sudden you do stuff in that that's normal to go through a lot of stuff so make sure that you do have health insurance because of that and then the second thing that I think is is important and it's more of kind of a behavioral thing that happens is how having health care kind of reduces the stress in your life so what you're doing is you're taking some stress off your shoulders that you're worrying about and giving it to somebody else that's really all insurance is isn't to imagine it as like lifting stress off your your shoulders so instead of worrying about do I have enough money to deal with all this kind of stuff going forward what you can do is just give some money to somebody else and they're gonna worry about it right so you give it to the insurance agency to worry about that so I personally opt for I know that lots of people would suggest particularly in United States to up for like high deductible plans I don't actually and the reason is it's it's all behavioural I opt for we have a really good HMO in our city and I believe it's just like Blue Cross but it's like HMO for the specific city and for those of you from around the world that just means that there is like health care center or for your specific city and it's you can get health insurance anywhere you can go get health care anywhere within the United States but within the city you have to go to these particular health care providers and you know the physicians and things like that so so anyways it I pay extra to get this particular plan and then we just can walk into any doctor's office the high deductible plan has it's like you pay everything upfront and it's up to like two three or $4,000 or $5,000 or something that you have to pay I think it's like five thousand dollars you have to pay everything a hundred percent upfront and then the health insurance kicks in so what that does the problem with that plan well it makes financial sense and it truly does make financial sense to do that plan it is you know you're gonna save money doing that and over the long run that's gonna add up to lots of money however the problem is is it's a disincentive to go to get health care and it's also a stress thing so you're always gonna have to worry about that there's money in your bank to pay for all of whatever something happens right so it's kind of a little bit stressed out because of that so what's really nice is I don't have to worry about it and that makes a huge huge difference on me and my life and stress and things like that if I don't have to worry about it and that's really the nice thing and I know and that's the whole sort of argument right is that I'm not incentivized to worry about it that's the argument with against health care within the United States I'm not incentivized to worry about it so I don't really care how much it costs well that's that's a good thing in terms of my personal life at this moment because I don't have to worry about I'm not stressed and I could focus on actually being productive and doing the things that I need to do and particularly if there's like a sort of catastrophic event that happens I just we just go to the doctor right so I've gone to the hospital and things like that and just go to the doctor and that's okay so in terms of what I would recommend for you I recommend just getting some healthcare insurance and I know it's it's illegal at this moment not to have it or there's penalties associated not to have it um but just make sure that you always have health insurance at all times and you know in terms of the other ones in dentistry generally doesn't work out financially in your favor I've found out if you look into it and you investigate it a little bit deeper I want you to look into it though don't just take my word for it the and the pharmaceutical stuff make sure you always have that as well because that can be very very costly I study medical devices and pharmaceutical industry and the way that they make the money is by you know to do drug discovery medical device discovery they have to spend an awful lot of money to do this kind of stuff and then the way they make the money is charge you a lot at the end of it right so I'm just know that that stuff can be very pricey particularly if you get things like cancer or or whatnot in happens it truly does happen to everybody you know and you have a hundred percent chance of dying you truly do and you know at the end of and at the at last you know a couple months of your life it's going to be extremely costly if that's the healthcare economics behind it gets extremely costly and that's the last thing you need to be worrying about at that stage and you know you should be worried about just living life at that moment so make sure that you have health care insurance when you're in graduate school it's it's yeah I can't ID speak very very strongly for you and choose some ones that's gonna reduce the amount of stress for you it's already stressful you're already gonna be freaking out during graduate school so just choose the one that makes you less stressed going forward so hopefully that makes sense give me a thumbs up if you liked this video and do subscribe to the YouTube channel alright take care bye

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