03.31.25 Who Administers Your Retirement Account? / What Happened To Southwest Airlines?

Summary

The Clark Howard Podcast – Episode Summary (March 31, 2025)

Title: Who Administers Your Retirement Account? / What Happened To Southwest Airlines?

Host: Clark Howard

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Introduction

In the March 31, 2025 episode of The Clark Howard Podcast, Clark delves into critical financial topics that impact everyday Americans. The episode is split into two main segments: the administration of retirement accounts, particularly 401(k)s, and a candid discussion about the recent turmoil at Southwest Airlines. Through expert analysis, listener interactions, and personal anecdotes, Clark provides valuable insights aimed at empowering listeners to make informed financial decisions.

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Segment 1: Who Administers Your Retirement Account?

Key Discussion Points:

• Importance of 401(k) Administration: Clark emphasizes the significance of understanding who manages your 401(k) and how administrative and investment fees can dramatically affect retirement savings over time.

  "Over time, the cost that you have to pay embedded in the investments or administrative fees in a 401k have such a giant impact on the hard earned money you divert into that plan, how much you're going to have down the road." ()

• Low-Cost vs. High-Cost Plans: He contrasts low-cost providers like Fidelity and Vanguard with higher-cost alternatives typically offered by banks and insurance companies. Clark warns that plans with fees above 0.5% are considered high-cost, with those exceeding 1% labeled as ultra high cost.

  "If the plan is a low cost plan, you want to throw money in it. If it's a high cost plan, you want to put in enough to pick up whatever employer match you're getting and then other than that, you want to be in your own Roth IRA." ()

• Roth vs. Traditional 401(k)s: Highlighting the benefits of Roth 401(k)s, Clark advises most listeners to favor Roth options unless their income exceeds specific thresholds (e.g., $250,000 for singles, $500,000 for married couples).

  "Unless you're earning giant money what's giant money for a single individual, a quarter million or more a year... Otherwise you want to be in the Roth 401k you're putting in after tax dollars that will never be taxed again." ()

• Proposed Retirement System Redesign: Clark envisions a more flexible, portable retirement plan system, akin to Roth IRAs but with employer matching features, to provide continuity and cost efficiency.

Notable Insight: Clark underscores that many employers adopt high-cost 401(k) plans not out of malice but due to their relationships with banks or insurance companies, which may offer other financial benefits to the employer.

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Segment 2: What Happened To Southwest Airlines?

Key Discussion Points:

• Private Equity Takeover: Clark expresses his disappointment with Southwest Airlines, attributing the airline's decline to interference from private equity firms. He feels that these changes have stripped Southwest of its unique, customer-friendly identity.

  "These private equity clowns came in and have really messed up Southwest... Everything they've done from these private equity clowns is cruel to the customers." ()

• Loss of Unique Selling Points: Southwest's shift towards mimicking larger airlines like American, United, and Delta has led to the introduction of unpopular policies, such as additional fees and devaluation of the Rapid Rewards program.

  "They decided... we're going to mimic them. We're going to be a me too. And we're going to have all kinds of gotchas and junk fees... they've devalued our rapid rewards frequent flyer program by 75%." ()

• Impact on Customer Loyalty: Clark laments that loyal Southwest customers may start migrating to other airlines due to these negative changes, predicting a rough period ahead for both passengers and the airline.

  "Loyalty should be a two way street, right? Right now it's a one way street and what we got coming towards us is a freight train." ()

• Personal Anecdote: Using humor and personal feelings, Clark likens his relationship with Southwest Airlines to a rocky romantic relationship, highlighting his emotional investment in the airline's legacy.

  "Southwest has been so much a part of our family's travel for a generation is just really stinking." ()

Listener Interaction:

A listener from New York, Ben, inquires about whether to upgrade his Southwest Rapid Rewards card amidst the airline's deteriorating service. Clark advises caution, suggesting that while maintaining the card for existing benefits like free checked bags is advantageous, potential future changes might affect its value.

"Time will tell if you end up diverting your business to other airlines or you find that Southwest is still a good choice for you." ()

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Listener Questions and Stories

1. Annuities Rep's Misleading Claims
   Listener: Tom from California
   Question: Tom describes an annuities rep promising to turn $500,000 into $100,000 annually for life.
   Clark's Response: Clark debunks the claim, explaining that while deferred annuities offer potential benefits, the projections are often exaggerated and not guaranteed.

   "The only thing you can look at is what the guarantee is... It makes it seem like this is the greatest thing ever. But it'll say probably in little type for illustration purposes only." ()

2. Upgrading Rental Units
   Listener: Tim from Virginia
   Question: Should Tim invest $20,000 in upgrades to his rental property to increase monthly rent by $500?
   Clark's Response: He approves the investment, highlighting a good return on investment within three years, provided the property doesn't remain vacant for extended periods during renovations.

   "You would get a payback... making back the cost and a little more than three years." ()

3. Jonathan's Success Story
   Listener: Jonathan from Florida
   Story: Jonathan shares his journey from having significant debt and credit issues to achieving an 800 credit score and stable financial footing by following Clark's advice.
   Clark's Response: He commends Jonathan's determination and reinforces the effectiveness of disciplined financial habits.

   "You learn to live on less than what you make, which is exactly what you've done." ()

4. Traveling to Ireland
   Listener: Armand from Texas
   Question: Armand seeks advice on booking flights to Dublin and navigating Ireland's transportation system.
   Clark's Response: Clark advises booking international flights slightly earlier than domestic ones and suggests considering alternative departure cities like New York or Boston for better fares. He humorously cautions about driving in Ireland.

   "Set up a fare alert for fares from Austin to Dublin... You may find a fare out of Boston or New York." ()

5. Paxlovid and Medicare Costs
   Listener: Janice from Georgia
   Question: Janice is shocked by the high cost of Paxlovid despite having Medicare and seeks clarification.
   Clark's Response: He clarifies the confusion surrounding Paxlovid pricing, highlights the government assistance program offering free Paxlovid to eligible Medicare beneficiaries, and emphasizes the importance of seeking assistance to avoid exorbitant costs.

   "If you are interested in taking Paxlovid... it's something that's kind of like taking what's one for the flu that you have to take early." ()

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Advertisements Skipped

Throughout the episode, several advertisements were aired, including promotions for the Apple Card, Venmo Debit Card, and Progressive Insurance. Following the system's instructions, these were omitted from the summary to focus solely on the podcast's content.

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Conclusion

Clark wraps up the episode by reiterating his mission to empower listeners with financial knowledge to save more, spend less, and avoid scams. He encourages audience engagement through his Consumer Action Center and previews topics for the next show.

"What you should be doing, empowering yourself with knowledge so you can save more, spend less and avoid getting ripped off." ()

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Notable Quotes with Timestamps

• "Over time, the cost that you have to pay embedded in the investments or administrative fees in a 401k have such a giant impact on the hard earned money you divert into that plan, how much you're going to have down the road." ()

• "Unless you're earning giant money what's giant money for a single individual, a quarter million or more a year... Otherwise you want to be in the Roth 401k you're putting in after tax dollars that will never be taxed again." ()

• "These private equity clowns came in and have really messed up Southwest... Everything they've done from these private equity clowns is cruel to the customers." ()

• "Time will tell if you end up diverting your business to other airlines or you find that Southwest is still a good choice for you." ()

• "If you are interested in taking Paxlovid... it's something that's kind of like taking what's one for the flu that you have to take early." ()

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Final Thoughts: This episode of The Clark Howard Podcast provides listeners with crucial information on managing retirement accounts effectively and offers a heartfelt critique of recent changes at Southwest Airlines. Through a blend of expert advice, listener stories, and personal reflections, Clark continues to deliver content that is both informative and relatable, reinforcing his commitment to helping consumers achieve financial well-being.

Transcript

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[Clark Howard]

I'm so glad you've joined us here on the Clark Howard Show. You know, our mission is to serve you with advice and information that empowers you so you make better financial decisions in your life. And when it comes to retirement accounts, where they're held is so important and makes a huge difference and how much money you have later in life. And I'm going to talk about that. And then, well, Southwest Airlines and I are on the rocks. My longtime girlfriend really dissed me hard. I want to talk about how I'm handling my now rocky relationship with my sweetheart Southwest. But that's later because right now we're going to talk 401ks because we hit a milestone recently that half of all people who work for private companies now have access to a 401k. I mean, I think about how this has changed in recent times where smaller employers didn't offer 401ks because they were cost prohibitive for smaller employers. And now because of competition in the marketplace, it's become possible for very small businesses to offer reasonably affordable 401ks. And now we've hit this more than half point still means that half of people almost in the United States don't have access to an employer provided retirement plan left to their own devices. But I got to Talk about this 401k thing because 401k plans are not all created equal. I mean there are, there are Companies that just aren't aware and will have their 401k managed by a bank or they'll have it managed by an insurance company. Let me tell you, that's not going to work out. Because over time, the cost that you have to pay embedded in the investments or administrative fees in a 401k have such a giant impact on the hard earned money you divert into that plan, how much you're going to have down the road. Because you'll see this split that people that are in one of my low cost plans, those of you watching the YouTube show, seeing me use my hands as like a chart that it diverges at first. The difference in how much money you have in a low cost plan versus a crummy insurance company plan or bank plan for a 401k that you don't really notice, it's not perceptible how much less money you're going to end up with. But then you start getting some years on the plan and you may have to work many extra years versus someone else because of the huge costs they're going to have in a 401k that's administered by an insurance company or a bank. I mean, you want your 401k. Why is the market share moved to these really low cost providers like Fidelity and Vanguard and a small number of others? Because they run ultra efficient, low cost 401k plans for both the investment and the administrative costs. And then over time it has huge impact on how much money you have later in life. So if you're in a plan that has high cost, what's high cost? Anything above half a percent all in would be a high cost plan. Anything above 1% would be an ultra high cost plan. Some of these insurance company plans that small employers have could have costs of 2, 3 or 4% on your 401k, greatly reducing what you're going to have in retirement. So if you're with a provider that's providing a low cost plan, they have to disclose to you what the fees are. Actually take the time to look at that. If the plan is a low cost plan, you want to throw money in it. If it's a high cost plan, you want to put in enough to pick up whatever employer match you're getting and then other than that, you want to be in your own Roth ira. And while we're at it, overwhelmingly we now have a choice at employers of a traditional 401K and a Roth 401K. You want the Roth. Unless you're earning giant money what's giant money for a single individual, A quarter million or more a year. For a married couple, 500,000 or more a year. That's the point at which going into a traditional can make a lot more sense. Otherwise you want to be in the Roth 401k you're putting in after tax dollars that will never be taxed again. And it's great that more employers are offering one. But if I were your emperor, I would completely redesign how we do retirement in the United States where people had a portable plan that was theirs forever. It was like a Roth ira, but when you're working at a place the employer can provide a match to it. That would be the smart way to do it. Instead of having a plan while I was at this employer and now I'm at that employer and then I'm at the other. And you could choose a low cost plan instead of being in the crummy high cost plan your employer picked. Now I don't think your employer is trying to rip you off because remember, they got self interest here. They just don't know any better and they went into this high cost plan. Now you may wonder why some very large companies might choose a crummy bank for a 401k. Not that banks are crummy, but that for 401k plans are a crummy choice. Why would a large employer pick a bank when they knew it would be much better to have that large employer plan at a low cost provider? Because they're trying to do other stuff with that bank, maybe mergers and acquisitions or they're trying to borrow money from the bank for operating costs at the business. So they make a bad choice for you by doing a high cost 401k because they need to make those bankers happy.

[Listener]

All right, we'll go to questions. Tom in California sent this one in on your recent Clark stinks. There was an annuities rep who said my favorite product, if utilized properly, can turn $500,000 into roughly $100,000 every year for life guaranteed. If you put the money in and let it sit for 10 years, you can get almost 20% of whatever you put in back each year. As an example, if I put in $1 million and let it sit for 10 years, I can get back $100,000 per year for the rest of my life. That just seems too good. Can you explain what type of product the caller was referencing and expand on it?

[Clark Howard]

Yeah, it's various forms of deferred annuities, but the numbers that were quoted are just Extrapolations. So an insurance agent in most states is allowed to do what's known as a policy illustration. And the illustration that they're allowed to do, depending on what the state insurance department allows in that state shows you what could possibly happen, but not what's guaranteed. The only thing you can look at is what the guarantee is. And when you look at the guarantee, you'll see that it's nothing like the policy illustration. That makes it seem like this is the greatest thing ever. But it'll say probably in little type for illustration purposes only and is not actually what they're contracting with you to do in that annuity.

[Listener]

Tim in Virginia wrote this Clark should I make $20,000 in upgrades to my rental unit to add a full bath and new kitchen in order to pull another $500 or so in monthly rent? I have a single family unit in a big city where there's a good market with solid rental history. The changes would make it a two bath.

[Clark Howard]

So you'd get a payback. If you're right, you can cap the cost of doing those upgrades, really at 20,000. You're not going to have a lot of upgrades. That would be a good return on investment. You'd make back the cost and a little more than three years. And then you'd be getting that money, extra money, year after year. And when you go to sell the rental unit, at some point it will be worth more than it would be otherwise. I think that if the numbers really are as you think they are, that would be a great move on your part. The one thing that would make it a bad move is if you have to leave it unoccupied with no rental income for an extended period of time while the work is going on, then making getting the return on investment would be a lot harder. Take a lot longer.

[Listener]

Jonathan in Florida says, I'm the guy who had 33 bad debts and 3 car repos. In a previous episode, I wanted to let people know that with a good budget, they can achieve good Credit. I make $50,900 a year as a first responder.

[Clark Howard]

Thank you for your service to people.

[Listener]

My credit score is close to an 800. I put $75 a pay period in a Roth IRA. I pay $230 a month for health insurance, 1124amonth in rent. My truck is paid for and I pay $65 a month in car insurance. I've been saving for a house, which I now have around $6,500 saved. I followed several of your guidelines and continue to strive to do better. I may never be a millionaire, but I will survive and I live comfortably on your advice.

[Clark Howard]

Jonathan, I can't thank you enough for writing this follow up because when people heard your original story, they were probably like, this is never going to work out. But it shows that determination and one step at a time changes things. And what happens when you go through a process like you did, having to clean things up? You learn to live on less than what you make, which is exactly what you've done. And you've got your finances rock solid. You're putting money aside so many different ways. And this is such a great additional bit of information for people who Right now we got a lot of people that are feeling overwhelmed with debts and to hear from you that there is a happily ever after and it takes a while but you've gotten there, I think is really, really kind of you to have taken the time to write this follow up and continued success to you.

[Listener]

Inspiring for sure.

[Clark Howard]

Absolutely. Coming up ahead, you know it really hurts when your girlfriend lets you down.

[Listener]

You better explain that.

[Clark Howard]

Southwest Airlines what did you do to me? That's how people feel. I mean, it's crazy what a connection people have had to Southwest. We got a lot of questions from people about it and before I get to your questions, I'm going to talk about how I'm feeling with my hurt heart from what used to be known as the Love Airline.

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[Listener]

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[Clark Howard]

Serum.

[Listener]

Let's get into layering.

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[Clark Howard]

A lot of us have had the opportunity, the privilege to work with organizations that get taken over by private equity. And we know how ugly that is. But it's very seldom that a high profile public company gets polluted by the poison of private equity. That happened to Southwest Airlines. Southwest had been going through a midlife crisis and didn't seem to have any sense of urgency. And so sometimes the cure is worse than the disease. These private equity clowns came in and have really messed up Southwest. So I'm on the rocks with my girlfriend for sure. Southwest has been so much a part of our family's travel for a generation is just really stinking. The thing is, the changes that have been announced at Southwest make it a poor imitation of the three full far airlines, American, United at Delta. And Southwest has decided, hey, we fly more people in the US Than those folks do. So we're going to mimic them. We're going to be a me too. And we're going to have all kinds of gotchas and junk fees and a. And by the way, we just devalued our rapid rewards frequent flyer program. The value of earning by 75%. Jokes on you. And I mean, it's just terrible. They didn't do a single thing that was customer friendly. Everything they've done from these private equity clowns is cruel to the customers. So they're nothing now. I mean, when all these changes go into effect, Southwest has no place in the marketplace available to it. So what will happen is they'll have to rethink some of what they've done. They needed to do some change. But this is going to be a rough ride. For passengers and for the airline coming forward. What do people do? You treat them like dirt, they go somewhere else. So we'll see what happens. Because a lot of this stuff is future misery for passengers, not current misery. With what the change is going into effect. I'm trying to think who announces. So we're going to treat you like dirt these 18 different ways and it's going to go into effect later. Who does something that stupid? But anyway, that's what happened. And so I, I'm a free agent now.

[Listener]

You gonna go on some of those airline apps? Try to find another one?

[Clark Howard]

Well, I. Well, I mean, yeah. Yeah, we're gonna have this.

[Listener]

Looking for better air Lonely Hearts Club.

[Clark Howard]

You know, because Southwest ripped its heart out of itself. So there'll be.

[Listener]

The Lonely Hearts Club prefers free bags, no seat assignments.

[Clark Howard]

Well, I don't check a bag anyway. But it was such a symbol for them and it gave them a marketplace reason to exist when they didn't have as frequent a flights. They don't have fancy stuff. I mean, it's just like. You ever seen the lounge that Southwest has? No, there isn't one. Yeah, I mean, you know, they're trying to run with the big boys, the full fare guys, American, United and Delta, and they're not bringing anything to the ball. So it's going to be really interesting. So my expectation, capitalists don't want to destroy themselves. And I think that a lot of these changes may be softened or changed as we move forward, but it does mean that people that have been extreme Southwest loyalists don't necessarily need to dump Southwest, but you need to rethink because loyalty should be a two way street, right? Right now it's a one way street and what we got coming towards us is a freight train. How do you think I feel about it?

[Listener]

You are very. She hurt you bad? That's all I can.

[Clark Howard]

She did hurt me bad. Oh, well, okay.

[Listener]

But you're hoping she's going to come back. I'm hoping there's still hope.

[Clark Howard]

I'm hoping. You know, you can't, you can't change other people and you can't change organizations, but they want to survive. And so hopefully the stupid index will be reduced. But I mean, this is, this is Private Equity 101 over and over again. You see this with private equity clowns. You know, you can be really, really bright and go to the best business school and have the best finance degree and all that, but you don't understand real life. And that's what's going on here.

[Listener]

Maybe it's time for Clark Air, Big Green Plains. I love it.

[Clark Howard]

You know, I wouldn't last long because I'd say you want us to charge people that much.

[Listener]

All right, we'll go to questions and the first one is about Southwest. Ben in New York wrote this. My husband holds the Southwest Rapid Rewards plus credit card and I'm an authorized user. We got this card a few years ago to take advantage of the Companion Pass promotion they were offering at the time. We are up for renewal and prior to the Southwest announcement that they are ending the free bag policy, we were planning on upgrading to their priority card because the flight credit and points essentially covered the cost of the higher annual fee. Now with Southwest ending virtually all of the benefits that set them apart from the other airlines, we likely won't fly them as much. Our local airport, Albany, New York has been adding new airlines, Avelo Breeze, Allegiant and has had American, United, Delta and JetBlue Forever. So there's some competition, but we've always preferred Southwest. It's safe to say that our loyalty to them is now over with that would you say it's worth upgrading or simply canceling the card at this point? I've read that cardholders can still get one free bag, I'm assuming per trip and not per year. But would this extend to me as an authorized user? My name is printed on the card, but it's my husband's Rapid Rewards number that is printed on it. I would hate for us to take the credit score hit for closing the card if we should get rid of it can and should we switch to another Chase card and instead of closing it, I know you've had the Southwest card for a while, so I'm curious to hear your thoughts on all of this.

[Clark Howard]

So my wife has been my carpool dummy for 20 straight years. Is my free companion.

[Listener]

She's not going to like this segment at all.

[Clark Howard]

No, she knows I refer to as carpool dummy says she's she's always free flying with me on Southwest. I mean it's incredible the companion Pass. We don't know what's going to happen with it. They haven't said yet. But I am renewing my Rapid Rewards card when it comes up for renewal and I think people should one more time because we again, these are future really crummy things they're doing and we don't know what will stick and what doesn't. Now with the card, if I buy a ticket on Southwest and there's like a bunch of people on the reservation with me, everybody gets one free check bag.

[Listener]

Up to eight people.

[Clark Howard]

Up to. Is it update. The thing is, though, anybody I buy a ticket for, I mean, if they want to check a bag, I mean, they don't get to go on the trip. No, no, they can. They can check a bag if they want. Even though I don't believe in checking bags, they can do it.

[Listener]

But as a card holder, even though you're an authorized, you have your own.

[Clark Howard]

Card, you'd still get the free bag if you were buying your own ticket. So that's all good. And, you know, time will tell if you end up diverting your business to other airlines or you find that Southwest is still a good choice for you. That's the way it works is market share moves one place to another. I mean, I think. I think that airlines go through cycles. And you think about how many airlines have been bussed. One I think about is United. They had the worst reputation in the business. You know, they had the thing where they beat up that doctor and dragged him off a plane, broke his teeth and all that. It was a perfect example, all the horror of United. And while we haven't been looking, they've turned the quality of that airline way around. So organizations go through ups and downs, and this is just a down for Southwest right now.

[Listener]

Armand in Texas says, I'm traveling from Austin, Texas to Dublin, Ireland in mid August of 2025 to see the best band of all time, Oasis. I plan to go for about 10 days. I've done my fair share of international travel, but it's been a while, so I wanted to get your recommendation. When's the best time to book the flight? Should I check from other airports besides Austin? And. And how's the train system in Ireland? I know it's great in Europe, but is it the same?

[Clark Howard]

The train system in Ireland is in your imagination. You don't get around Ireland on a train. I've been to Ireland over and over again. That's not how you're getting around. You're going to have to deal with the hysteria of driving on the other side of the road, which is really not that hard unless you get a stick shift, which I enjoy. The challenge of driving a stick shift with the wrong hand and then having to go around the roundabouts the other way and all that.

[Listener]

But the worst part to me was the incredibly narrow roads that were like, made for, like, little mule carts.

[Clark Howard]

Yeah, you took the words right out of my mouth. When you get out of the area around Dublin or south to Kilkenny and you Start going pretty much anywhere else in Ireland. The roads are more like. Like Donkey Pass. I mean.

[Listener]

Yeah.

[Clark Howard]

And they're supposedly. They're two way roads.

[Listener]

We almost. You were driving us one time. We gone to cliff some more I think right on the side.

[Clark Howard]

I tried to drive us off the road into rocks. Yeah, yeah, yeah. Well, that car had an early version. It was a Nissan with an early version. We were. It's so weird you're talking about this because Lane and I just talked about that two nights ago that we were in that Nissan and it had a rudimentary version of self driving. And I'm just talking and looking around and the car just drives right off the road. Yeah, yeah. Oh well, anyway, we survived. Let's answer your question.

[Listener]

Yeah, sorry.

[Clark Howard]

Because I mean, poor Armon took the time to write this. We haven't answered a thing about the ticket. All right, so you are as we are last day of March. We're. We're pushing right when you're going to start seeing the. The sale fairs for summer. April is a really good time for you to be looking at summer fairs. And the fairs are erratic. But international fairs, you want to buy not way early, but a little early. Domestic tickets more like six, eight weeks out. International longer than that. But Austin is not going to be your bargain airport to go to Ireland or really most anywhere in Europe. So what I want you to do is go on Google flights, set up a fare alert for fares from Austin to Dublin. And I also want you to set up fair alerts from Boston and New York because you can fly from Austin so inexpensively domestic. And you may find a fare out of Boston or New York. Boston, where there's such a large Irish community, they've got Aer Lingus there. And in New York you may find that the fares are so much cheaper that you will want to go out of one of those. I have a friend who called me recently who's going to Ireland in June. He was going from Tampa and the fare from Tampa was how many times the cost of going out of New York? Three times the cost of going out of New York. So he and his wife are going to fly up to New York. They're spending two nights there enjoying New York. Then they're going to fly from New York to Dublin and pay a third of the price. That's a big difference for sure.

[Listener]

Janice in Georgia says I'm 67 and recently contracted Covid.

[Clark Howard]

Hope you're okay.

[Listener]

Now I went to an urgent care and was told because I'm over 65 that it was in my best interest to have Paxlovid. As I drove to the pharmacy, I was glad I had Medicare, assuming it would be a reasonable price. To my astonishment, the cost was. Clark, take a few deep breaths here. Seventeen hundred dollars. When I asked if Medicare had a discount, I was told that it would be $700. Like 99% of the population drove away right then. After looking online, a friend found this info. The US Government patient assistance program operated by Pfizer will provide eligible Medicare beneficiaries with free Paxlovid until December 31st of this year. Also, it provides this to various other groups, including people without insurance. This is outrageous that the doctors and pharmacies do not know or have chosen not to acknowledge this information. I want my fellow listeners to be aware.

[Clark Howard]

So first of all, you're writing this, so hopefully you're great. Now the Paxlovid thing has been so confusing because at one time it was free for anyone and now it's. It depends on the insurance you have. And in your case, as you found out with Medicare, if you apply for the assistance program, you don't pay. I had last two cruises we went on, I got Covid on each cruise. So each time I took Paxlovid, one time it cost me $30 through my insurance. The other time it cost me 100. But if it was street price, it would have been more than $1000. In your case, the pharmacy told you 1700. So when you're feeling ill, the last thing you can process in your mind is, well, how am I going to get this at a discount? Takes a family member who's well to be noodling around and find how you can get it at a lower price. Or as you pointed out with Medicare potentially for free. Now whether this is going to be extended after this year, very hard to know if there's going to be an extension with the attempts to reduce budgets, you know, federal spending, odds are it will not be. But in the meantime, if you are interested in taking Paxlovid, if you get Covid or you're just curious what it is, it is something that's kind of like taking what's one for the flu that you have to take early when.

[Listener]

You get the flu, there's Tamiflu and there's a new one that's just a one day one now.

[Clark Howard]

So with the, with the antivirals, yeah, you can greatly reduce the symptoms and the length of having the flu. Potentially. That's what Paxlovid does each time When I came down with COVID I had one bad day after I started taking Paxlovid the day I started taking Paxlovid the next day. Each time I woke up feeling completely normal. That was my experience and yours could be different, but I found Paxlovid in my case to be a miracle drug. And my wife's like, why would you go on a cruise again? Because our son loves them. That's why we go on cruises. Have an absolutely great, great day the rest of today and look forward to serving you on Wednesday. If you watch the YouTube show, seeing you on Wednesday today what you should be doing, empowering yourself with knowledge so you can save more, spend less and avoid getting ripped off. And I was asked to explain something about how we do this with our team Clark Consumer Action Center. It's actually something that sounds like this kind of thing still exists where you for free get to talk one on one on a phone call. That's right. To get free advice about the problem. You have a question, you have whatever you want to see how to do that go to clark.com cac have a great one.