After you listen:

Read more from Chris Kawashima in his article "What is Health Insurance and Do I Need It?"
Explore more of Schwab's insights on health care.

Health-care costs are a major part of most households' budgets, yet many people struggle to understand what they're actually paying for. This episode breaks down how health insurance coverage works, what common medical expenses really mean for your wallet, and how to make smarter choices during open enrollment.

Host Mark Riepe is joined by return guest Chris Kawashima, a director of financial planning at the Schwab Center for Financial Research, to explain key terms like deductibles, copays, and coinsurance. They offer practical strategies for managing costs year-round and also discuss smart ways to use tools like FSAs and HSAs to save for short-term and long-term health-care needs.

Financial Decoder is an original podcast from Charles Schwab. For more on the series, visit schwab.com/FinancialDecoder.

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Important Disclosures

This material is intended for general informational and educational purposes only. This should not be considered an individualized recommendation or personalized investment advice. The investment strategies mentioned are not suitable for everyone. Each investor needs to review an investment strategy for his or her own particular situation before making any investment decisions.

All expressions of opinion are subject to change without notice in reaction to shifting market, economic or political conditions.

Investing involves risk, including loss of principal.

Past performance is no guarantee of future results.

The Schwab Center for Financial Research is a division of Charles Schwab & Co., Inc.

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How Do Healthcare Costs Actually Work?