Oscar winner K Hui Quan is living up to the title of her smash-hit film Everywhere Everywhere All at Once, soaking up the success of the critically acclaimed sci-fi adventure flick – but her path to award-winning stardom wasn't a straight one.
The former Indiana Jones and the Goonies child star recently Appeared on The Late Late Show with James CordenWhere he revealed that he lost his health insurance when the film industry froze due to the COVID-19 pandemic.
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“I haven't got a single job,” he said. “And sure enough, 2021 came and went and I lost my health insurance.”
Quan's admission attracted the attention of Sen. Bernie Sanders (I-Vt.), who Tweeted: “This Oscar-nominated actor lost his health insurance during the pandemic after filming his last movie. How absurd? It means nothing to me, you or anyone else in this country about your ability to see a doctor.” treated as a benefit of the job and not as a human right.
health insurance challenges
Quan, who won the Best Supporting Actor Oscar at the 95th Academy Awards, was one of the millions of Americans who lost their jobs – and their health insurance – during the pandemic.
He told James Corden that filming of Everywhere Everywhere All at Once was put on hold for eight months in 2021.
“That whole time, I was trying to be safe like everyone else [else]” he said. “My agent was sending me all these auditions and I was sending tapes myself – and I didn't get a single job.”
Kwan said he was so terrified of losing his health insurance in the midst of a pandemic that he would have taken any acting job to qualify for coverage. But his search for work was unsuccessful.
Facing a sea of rejections and doubting his acting ability, Kwan called his Everywhere Everywhere All at Once producer to ask if he was any good in the film—and received the response: “You just wait !”
While Kwan's fortunes have turned around, the insurance crisis during the actor's time at work highlights a challenge facing millions of Americans who rely on job-based coverage: If you lose your job, so will your health. Insurance coverage will cease.
According to the US Department of Health and Human Services (HHS), roughly 26 million people in the US live without health insurance.
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Dealing with everything, everywhere, all at once can be difficult — especially when your personal and financial health are involved. Here are three ways to manage unexpected health care costs.
Consider your coverage options
medical benefitsOr “free” health care plans, don't start until you're 65.
If you haven't reached that milestone yet, there's more than one way to make your hands look reliable, affordable health insurance, For example, you can access coverage through COBRA, the Affordable Care Act subsidized marketplace, or a public plan like Medicaid. But many health care plans are expensive and confusing, so it may be worth consulting with an expert to find the best plan for you.
It is important Sign up for coverage as soon as possible so that you are not left without insurance and paying out of pocket for health care.
Some plans have time-sensitive enrollment periods, so it pays to do your research and act quickly to find the coverage that best suits your needs.
set up an HSA
a health savings account, or HSA, a tax-advantaged account for medical-related expenses only. It's meant to help people set aside money for routine medical costs and for those unavoidable health care emergencies down the road.
You can only set up an HSA if you're insured under a high-deductible health plan (HDHP).
For 2023, the IRS defines an HDHP as any plan with a deductible of at least $1,500 for an individual or $3,000 for a family. An HDHP's total annual out-of-pocket expenses (including deductible, co-pays and co-insurance) cannot exceed $7,500 for an individual or $15,000 for a family.
Most employers that offer HDHPs will give their employees the opportunity to open an HSA, but if they don't, you can set one up through a bank or an investment firm.
There are annual caps on HSA contributions, but any unused money carries over from year to year, so you can save even more over the long run. This year, individuals can contribute up to $3,650 and families can add $7,300 to their accounts.
This Money can be withdrawn tax-free To cover your deductible and copayments, as well as costs that insurance often doesn't pay, such as eyeglasses, going to a chiropractor, service animal care and breast pumps.
Manage your debts and build an emergency fund
Remember that no one is safe from unexpected health emergencies – and they can get very expensive Very early.
It is difficult to cover any unexpected cost when you are already paying off the loan. While your health is in good shape, consider taking steps to reduce your debt load.
For example, you can try to negotiate with your lender or consider a debt consolidation planWhich consolidates your various loans into one simplified loan, often with a lower interest rate.
One emergency fund Can help you weather financial storms like long hospital stays or illnesses where insurance or Medicare doesn't cover the full cost.
You can build this fund into an HSA or use high-yield savings products such as Money Market Deposit Accounts (MMDAs). Certificate of Deposit (CD) and savings accounts.
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This article provides information only and should not be taken as advice. It is provided without warranty of any kind.
