Smart Choice Health Insurance©

Reducing Confusion, Increasing Confidence and Know-How

Today’s Goals Understand why health insurance

helps prevent large unexpected health care expenses

Learn what to compare to understand cost and coverage

Consider some information needed to make a Smart Choice

My SMART CHOICE

Key Questions I Need to Answer

Why? • Why do I need health insurance? • Why is it important?

What? • What do I need and want? • What are my choices?

How? • How much can I afford? • How much will it cost?

My SMART CHOICE

Why? • Why do I need health

insurance? • Why is health

insurance important?

Why Do I Need Health Insurance?

Provides peace of mind

Protects your family’s financial future

Health and wellness services and programs

Better health outcomes

The Cost of a Broken Arm

Follow-up (out-patient) with Specialist Hard Cast: $500 2 visits: $200

Diagnostic/X-rays: $1027.70

Hospital Costs Pharmacy & Drug:

$2396.96 Hospital Supplies:

$2097.70 Emergency Room

$3036.60

Total Cost without Insurance $9,351.96

My SMART CHOICE

What?

• What information do I need to get or find out?

• What do I need to compare or consider?

SMART CHOICE Consumer Workbook

My Health Insurance Needs Worksheet

My Health Insurance Plan Comparison Worksheet

Estimating Monthly Health Care Costs

For our “Out-of-Pocket Health Costs” fact sheet, go to: http://extension.umd.edu/insure/consumer-resources

My Monthly Spending Plan

Reliable Resources from the Internet

University of Maryland (Health Insurance Literacy Initiative): http://www.extension.umd.edu/insure/

Ask an Expert: https://www.extension.umd.edu/insure/health-insurance-literacy-ask-expert

Healthcare.gov: https://www.healthcare.gov/ Consumers Union:

http://consumersunion.org/pub/pdf/healthcare2012.pdf IRS:

http://www.irs.gov/publications/p969/ar02.html#en_US_2013_publink1000204025

Smart Choice & Smart Use Health Insurance©

Bonnie Braun, PHD bbraun@umd.edu

Mia Russell, MBA

mbr@umd.edu

Acknowledgements This pilot project was developed with funding from

the University of Maryland Extension; College of Agriculture & Natural Resources

Program Development Team University of Maryland Extension:

Bonnie Braun, Virginia Brown, Lynn Little, Teresa McCoy, Mia Baytop Russell

University of Maryland Residential Facilities: Christine Garcia

University of Delaware Extension: Maria Pippidis