1
00:00:00,060 --> 00:00:06,029
a lot of people ask me Andrew how do you

2
00:00:03,750 --> 00:00:07,589
handle health insurance as a nomad

3
00:00:06,029 --> 00:00:11,690
capitalist I'm going to lay out my

4
00:00:07,589 --> 00:00:11,690
entire plan in this video

5
00:00:16,440 --> 00:00:27,119
[Music]

6
00:00:24,710 --> 00:00:28,260
hey I'm Andrew Henderson and in this

7
00:00:27,119 --> 00:00:30,090
video I'm gonna give you my

8
00:00:28,260 --> 00:00:32,220
comprehensive plan for maintaining

9
00:00:30,090 --> 00:00:33,900
health insurance around the world I'm

10
00:00:32,220 --> 00:00:35,040
not gonna promote any particular

11
00:00:33,900 --> 00:00:36,600
companies but I'm gonna tell you how

12
00:00:35,040 --> 00:00:38,100
I've set up my own insurance plans

13
00:00:36,600 --> 00:00:40,379
because whether it's people who are

14
00:00:38,100 --> 00:00:42,840
those of you online who are commenting

15
00:00:40,379 --> 00:00:44,370
and asking for my advice whether it's

16
00:00:42,840 --> 00:00:45,960
people that we're working with one on

17
00:00:44,370 --> 00:00:47,849
one who want to make sure they're

18
00:00:45,960 --> 00:00:49,559
covered even my father you know says

19
00:00:47,850 --> 00:00:51,960
Andrew I think a lot of those of us who

20
00:00:49,559 --> 00:00:53,640
are older really value health insurance

21
00:00:51,960 --> 00:00:55,950
we want to know how we can get good

22
00:00:53,640 --> 00:00:57,539
quality of care and so the first thing I

23
00:00:55,950 --> 00:01:00,180
think is really important to understand

24
00:00:57,539 --> 00:01:03,000
when you're leaving your home country to

25
00:01:00,180 --> 00:01:04,289
become a nomad capitalist is number one

26
00:01:03,000 --> 00:01:06,890
especially if that country is the United

27
00:01:04,289 --> 00:01:10,500
States understanding the realities of

28
00:01:06,890 --> 00:01:12,840
costs of care the United States in

29
00:01:10,500 --> 00:01:15,270
particular is dreadfully expensive in

30
00:01:12,840 --> 00:01:17,220
terms of care and I think one of the

31
00:01:15,270 --> 00:01:18,780
reasons why you would become a nomad

32
00:01:17,220 --> 00:01:21,470
capitalist in the first place or at

33
00:01:18,780 --> 00:01:24,869
least follow some of our tenants is

34
00:01:21,470 --> 00:01:26,820
because you want to pay less for care I

35
00:01:24,869 --> 00:01:30,840
actually in my book I actually devoted

36
00:01:26,820 --> 00:01:33,360
entire chapter six to Nomad health care

37
00:01:30,840 --> 00:01:35,070
in the idea of go where you're treated

38
00:01:33,360 --> 00:01:37,020
best for getting care you don't have to

39
00:01:35,070 --> 00:01:38,339
want tax benefits you don't wanna have

40
00:01:37,020 --> 00:01:39,780
to have a second passport you don't have

41
00:01:38,340 --> 00:01:42,210
to bank overseas you could just follow

42
00:01:39,780 --> 00:01:44,729
Chapter six and you can just go and get

43
00:01:42,210 --> 00:01:46,559
health care overseas and so while people

44
00:01:44,729 --> 00:01:49,110
fundamentally understand that care

45
00:01:46,560 --> 00:01:51,500
outside of their own country is cheaper

46
00:01:49,110 --> 00:01:53,909
and can be just as good if not better

47
00:01:51,500 --> 00:01:55,170
equality it's a hard thing for them to

48
00:01:53,909 --> 00:01:57,479
wrap their head around when it comes to

49
00:01:55,170 --> 00:01:59,729
insurance and and what the need for that

50
00:01:57,479 --> 00:02:01,560
insurance is you're not going to go to

51
00:01:59,729 --> 00:02:03,149
the emergency room in Malaysia and get a

52
00:02:01,560 --> 00:02:04,140
bill for a hundred thousand dollars it's

53
00:02:03,149 --> 00:02:05,850
just not gonna happen

54
00:02:04,140 --> 00:02:08,009
meanwhile in the United States in

55
00:02:05,850 --> 00:02:11,100
particular people routinely go for

56
00:02:08,008 --> 00:02:13,500
pretty benign stuff and get huge bills I

57
00:02:11,100 --> 00:02:15,269
mean I know I I had to go to the

58
00:02:13,500 --> 00:02:17,250
emergency room once or twice again

59
00:02:15,269 --> 00:02:19,140
nothing was really totally wrong it was

60
00:02:17,250 --> 00:02:20,250
kind of preventative in my case I was a

61
00:02:19,140 --> 00:02:22,828
little bit freaked out kind of a

62
00:02:20,250 --> 00:02:24,720
hypochondriac at a younger age and I

63
00:02:22,829 --> 00:02:27,720
would get a bill for $2,000 just for

64
00:02:24,720 --> 00:02:29,730
seeing the doctor now I go and I'll go

65
00:02:27,720 --> 00:02:32,370
to one of the best hospitals in Malaysia

66
00:02:29,730 --> 00:02:34,768
for example when I've had to go to the

67
00:02:32,370 --> 00:02:37,560
emergency room and it might be $100 or

68
00:02:34,769 --> 00:02:39,330
$200 and I see a doctor

69
00:02:37,560 --> 00:02:43,560
oftentimes the doctor was educated in

70
00:02:39,330 --> 00:02:45,870
the UK and I feel the care is just as

71
00:02:43,560 --> 00:02:47,370
good I leave feeling good I leave with

72
00:02:45,870 --> 00:02:48,750
my problem solved

73
00:02:47,370 --> 00:02:49,950
so that's one thing that you have to

74
00:02:48,750 --> 00:02:51,840
understand if you're coming from a place

75
00:02:49,950 --> 00:02:54,268
where insurance protects you from

76
00:02:51,840 --> 00:02:55,860
catastrophic financial loss understand

77
00:02:54,269 --> 00:02:58,140
there's a difference in costs here's

78
00:02:55,860 --> 00:03:00,269
what I've setup number one I maintain

79
00:02:58,140 --> 00:03:03,208
relatively comprehensive coverage in my

80
00:03:00,269 --> 00:03:04,739
main hub countries for me right now

81
00:03:03,209 --> 00:03:07,769
that's Malaysia that would be the main

82
00:03:04,739 --> 00:03:11,220
one I also have coverage in Georgia and

83
00:03:07,769 --> 00:03:12,600
if I set up a base in the future in in

84
00:03:11,220 --> 00:03:16,260
Latin America I would probably get

85
00:03:12,600 --> 00:03:19,049
comprehensive coverage there now I put a

86
00:03:16,260 --> 00:03:20,190
high deductible on that to bring the

87
00:03:19,049 --> 00:03:23,700
cost down because I'm looking for the

88
00:03:20,190 --> 00:03:25,470
best risk transfer one thing is as a

89
00:03:23,700 --> 00:03:27,089
business owner we talked to 7 and

90
00:03:25,470 --> 00:03:28,739
8-figure entrepreneurs I don't want to

91
00:03:27,090 --> 00:03:31,230
be chasing down the insurance company to

92
00:03:28,739 --> 00:03:34,290
get you know 32 ringgit refunded right

93
00:03:31,230 --> 00:03:37,440
so if it's $5,000 I think I think my

94
00:03:34,290 --> 00:03:40,349
deductible is maybe 3 or $5,000 I don't

95
00:03:37,440 --> 00:03:42,359
even know but it's around there I'll

96
00:03:40,349 --> 00:03:43,798
just pay that at a pocket right what I'm

97
00:03:42,359 --> 00:03:47,280
really trying to protect is if something

98
00:03:43,799 --> 00:03:49,799
terrible happens covering me to where I

99
00:03:47,280 --> 00:03:53,549
don't have to pay $100,000 all right or

100
00:03:49,799 --> 00:03:56,100
or more and so comprehensive coverage

101
00:03:53,549 --> 00:03:58,350
provides me that what I what I layer on

102
00:03:56,100 --> 00:04:00,510
top of that is a as a catastrophic

103
00:03:58,350 --> 00:04:03,209
policy that covers they all around the

104
00:04:00,510 --> 00:04:05,370
world X us so obviously the United

105
00:04:03,209 --> 00:04:07,079
States any kind of travel insurance it's

106
00:04:05,370 --> 00:04:09,540
gonna be a lot more expensive if if

107
00:04:07,079 --> 00:04:11,850
you're gonna be needing care in the US

108
00:04:09,540 --> 00:04:14,700
because as we mentioned so much more

109
00:04:11,850 --> 00:04:17,548
expensive I don't go to the US I don't

110
00:04:14,700 --> 00:04:19,380
spend time there and so not an issue for

111
00:04:17,548 --> 00:04:21,859
me I pay a much lower rate for travel

112
00:04:19,380 --> 00:04:24,889
insurance that covers me anywhere and

113
00:04:21,860 --> 00:04:27,150
there are a few companies that you can

114
00:04:24,889 --> 00:04:28,260
basically tell them you know hey here

115
00:04:27,150 --> 00:04:30,659
are the places where I spend the most

116
00:04:28,260 --> 00:04:33,150
time and they'll cover you everywhere

117
00:04:30,660 --> 00:04:35,580
else so I put those two together and so

118
00:04:33,150 --> 00:04:39,120
here's my philosophy and why exactly I

119
00:04:35,580 --> 00:04:41,760
do that catastrophic coverage covers me

120
00:04:39,120 --> 00:04:43,260
if I get hit by a bus or if something

121
00:04:41,760 --> 00:04:46,860
happens that needs immediate attention

122
00:04:43,260 --> 00:04:49,620
so you know a medical evacuation

123
00:04:46,860 --> 00:04:50,760
situation something like that is covered

124
00:04:49,620 --> 00:04:52,290
by the kind of cat

125
00:04:50,760 --> 00:04:53,430
traffic coverage that I would get so if

126
00:04:52,290 --> 00:04:55,380
I'm spending you know two weeks in

127
00:04:53,430 --> 00:04:55,920
Columbia I'm not going to be left out in

128
00:04:55,380 --> 00:04:58,230
the cold

129
00:04:55,920 --> 00:05:00,030
the comprehensive coverage covers me and

130
00:04:58,230 --> 00:05:02,610
I make sure to address this every time I

131
00:05:00,030 --> 00:05:03,690
get a policy my policy Malaysia for

132
00:05:02,610 --> 00:05:06,180
example very good

133
00:05:03,690 --> 00:05:07,710
I can always return to Malaysia and and

134
00:05:06,180 --> 00:05:09,930
get that coverage because I'm covered

135
00:05:07,710 --> 00:05:12,060
all year round right if I if I find out

136
00:05:09,930 --> 00:05:13,230
if I get diagnosed with cancer when I'm

137
00:05:12,060 --> 00:05:15,180
in Colombia

138
00:05:13,230 --> 00:05:16,470
I can go back to Malaysia and get

139
00:05:15,180 --> 00:05:19,020
treated for that I'm a resident of

140
00:05:16,470 --> 00:05:20,340
Malaysia I have coverage there and so

141
00:05:19,020 --> 00:05:21,930
that's not necessarily an urgent thing

142
00:05:20,340 --> 00:05:23,640
obviously it's a very important thing I

143
00:05:21,930 --> 00:05:25,860
don't want to let it wait but it's a

144
00:05:23,640 --> 00:05:27,990
matter and I can wait a couple days to

145
00:05:25,860 --> 00:05:30,360
get in a plane get back and and get the

146
00:05:27,990 --> 00:05:32,400
health care and so you know my general

147
00:05:30,360 --> 00:05:35,550
philosophy is if it's not catastrophic I

148
00:05:32,400 --> 00:05:37,679
want to seek out the best care this goes

149
00:05:35,550 --> 00:05:39,480
along with my entire Nomad capitalist

150
00:05:37,680 --> 00:05:44,610
philosophy of go where you're treated

151
00:05:39,480 --> 00:05:47,010
best you know most people they live in

152
00:05:44,610 --> 00:05:48,870
you know one city they go to the

153
00:05:47,010 --> 00:05:50,580
hospital in that city and they they seek

154
00:05:48,870 --> 00:05:52,530
at the best Hospital nobody's seeking at

155
00:05:50,580 --> 00:05:54,659
the worst care but most people don't

156
00:05:52,530 --> 00:05:57,570
consider I wonder if there's a guy in

157
00:05:54,660 --> 00:05:59,510
Singapore who is a better specialist for

158
00:05:57,570 --> 00:06:03,630
this or wonder if there's somebody in

159
00:05:59,510 --> 00:06:05,940
you know Panama that is like the expert

160
00:06:03,630 --> 00:06:07,620
in the world in this you know super

161
00:06:05,940 --> 00:06:09,780
super niche you know super super rare

162
00:06:07,620 --> 00:06:11,820
medical issue that I have right

163
00:06:09,780 --> 00:06:14,640
most people just keep it in their local

164
00:06:11,820 --> 00:06:16,740
area and I think that the power of the

165
00:06:14,640 --> 00:06:18,419
Nomad capitalist approach is saying I'm

166
00:06:16,740 --> 00:06:20,670
always going to go where I'm going to

167
00:06:18,420 --> 00:06:22,140
get the best care I think Malaysia has

168
00:06:20,670 --> 00:06:24,720
pretty good care and so to maintain a

169
00:06:22,140 --> 00:06:26,370
comprehensive policy there not only

170
00:06:24,720 --> 00:06:27,540
protects me because I do spend a

171
00:06:26,370 --> 00:06:30,060
significant amount of time in the

172
00:06:27,540 --> 00:06:32,460
country it protects me that if I were

173
00:06:30,060 --> 00:06:34,980
one good care that doesn't have to be

174
00:06:32,460 --> 00:06:37,620
done right this very minute I can get on

175
00:06:34,980 --> 00:06:39,330
a plane and I can go there and I can get

176
00:06:37,620 --> 00:06:41,820
care and I can know that I'm getting

177
00:06:39,330 --> 00:06:44,010
some of the best care in the world but

178
00:06:41,820 --> 00:06:47,130
what I also think is important is again

179
00:06:44,010 --> 00:06:50,250
understand the financial attributes of

180
00:06:47,130 --> 00:06:52,890
it I'm looking for good risk transfers

181
00:06:50,250 --> 00:06:54,870
when it comes to insurance if I can pay

182
00:06:52,890 --> 00:06:56,909
I think I pay four hundred dollars a

183
00:06:54,870 --> 00:07:00,110
year to put the risk of a potentially

184
00:06:56,910 --> 00:07:02,840
hundred thousand dollar incident

185
00:07:00,110 --> 00:07:03,710
on someone else I'm all for that it also

186
00:07:02,840 --> 00:07:05,090
happens to be a condition of my

187
00:07:03,710 --> 00:07:06,770
residency and they have a policy so

188
00:07:05,090 --> 00:07:09,378
wouldn't matter anyway but I wanted to

189
00:07:06,770 --> 00:07:11,599
make sure I got the best policy that

190
00:07:09,379 --> 00:07:15,740
said if you are the 7 and 8-figure

191
00:07:11,599 --> 00:07:16,969
entrepreneur understand that I don't

192
00:07:15,740 --> 00:07:18,770
know of too many things that could

193
00:07:16,970 --> 00:07:21,590
happen to you in a country like Malaysia

194
00:07:18,770 --> 00:07:23,599
or even a Singapore that would creep up

195
00:07:21,590 --> 00:07:24,710
beyond the low six figures now I'm not a

196
00:07:23,599 --> 00:07:25,940
doctor I don't know every condition

197
00:07:24,710 --> 00:07:27,138
that's out there obviously there are

198
00:07:25,940 --> 00:07:29,629
chronic conditions that you're always

199
00:07:27,139 --> 00:07:30,889
dealing with but you know from my

200
00:07:29,629 --> 00:07:32,810
perspective when I started asking

201
00:07:30,889 --> 00:07:34,669
questions you know what does it cost to

202
00:07:32,810 --> 00:07:35,780
treat the average cancer you know

203
00:07:34,669 --> 00:07:39,080
Malaysia I don't think there was a

204
00:07:35,780 --> 00:07:43,219
single cancer where the average cost was

205
00:07:39,080 --> 00:07:45,560
was over $75,000 and so to a certain

206
00:07:43,219 --> 00:07:46,729
extent self insurance I think is it's

207
00:07:45,560 --> 00:07:49,129
not a bad thing to do

208
00:07:46,729 --> 00:07:51,139
but I do that in tandem with with making

209
00:07:49,129 --> 00:07:53,870
reasonable risk transfers and so

210
00:07:51,139 --> 00:07:55,250
comprehensive plus catastrophic doing

211
00:07:53,870 --> 00:07:57,169
that in a few different places around

212
00:07:55,250 --> 00:07:59,210
the world where I do spend time as well

213
00:07:57,169 --> 00:08:00,378
as having that that travel layer on top

214
00:07:59,210 --> 00:08:02,120
of it for any other places that you

215
00:08:00,379 --> 00:08:03,889
might go is what I do

216
00:08:02,120 --> 00:08:06,199
hi I'm Andrew Henderson from nomad

217
00:08:03,889 --> 00:08:09,380
capitalists I wrote this book which you

218
00:08:06,199 --> 00:08:10,759
can find on Amazon to distill a lot of

219
00:08:09,380 --> 00:08:13,250
the stuff we talk about in these videos

220
00:08:10,759 --> 00:08:15,110
and a lot of the stuff I've learned over

221
00:08:13,250 --> 00:08:17,060
the last decade plus traveling all

222
00:08:15,110 --> 00:08:19,219
around the world teaching you about how

223
00:08:17,060 --> 00:08:21,380
to legally reduce your taxes build your

224
00:08:19,219 --> 00:08:23,750
personal freedom and create wealth

225
00:08:21,380 --> 00:08:25,669
faster definitely get a copy of this

226
00:08:23,750 --> 00:08:27,830
book if you want to learn more now if

227
00:08:25,669 --> 00:08:29,719
you want to watch more videos make sure

228
00:08:27,830 --> 00:08:32,000
you subscribe to our Channel and make

229
00:08:29,719 --> 00:08:33,799
sure you click the notifications bill so

230
00:08:32,000 --> 00:08:36,020
you never miss one of our new videos

231
00:08:33,799 --> 00:08:38,569
with more tips on how to go where you're

232
00:08:36,020 --> 00:08:40,819
treated best and if you're already a six

233
00:08:38,570 --> 00:08:42,229
or seven figure entrepreneur and you'd

234
00:08:40,820 --> 00:08:45,649
like to put these strategies in place

235
00:08:42,229 --> 00:08:50,470
for yourself go to Nomad capitalist calm

236
00:08:45,649 --> 00:08:50,470
and learn about how I can help you