This is one of my favorite episodes of Friends. It is one of the funniest episodes. The main plot, Joey losing his insurance, ironically, isn't actually that funny. Ross' and Phoebe's are though.
Phoebe has a normal ditzy plot, after being told she's going to die before the following Friday and she's trying to prepare everyone. There's a hilarious scene with Rachel where Phoebe pretends to die standing up.
Also, a classic Friends moment, Ross' Fake Accent. Monica and Rachel go and see Ross at his new job, at NYU, he's a guest lecturer. Monica and Rachel walk in half way through only to hear him using a fake British accent. Monica and Rachel then try there own fake accents.