Health and Life Insurance

Ms. K. Scruggs

Choosing Health Care Insurance

Objective Given instruction, the learner will

explore the functions and benefits of different types of insurance with 85% accuracy.

Pre – “Qs” What are the types of health care

coverage? How do you get health insurance if

your employer does not offer it? What is managed care? What does disability insurance

cover?

Types of Health Care Coverage

Dental and Vision Coverage Disability Coverage and Long-Term

Care

Understanding the Cost Premium Deductible Coinsurance Co-pay Out-of-Pocket

Sources of Health Insurance

Group Insurance Plans Individual Health Insurance Government Program

Group Insurance Plans Employer-sponsored health plan When many people are covered under the

same policy, premiums are considerably less than they would be for individual policy.

COBRA Consolidated Omnibus Budget Reconciliation

Act It is a federal law that requires employers to let

workers temporarily continue with their health insurance plan after leaving the company, usually for 18 mos.

Individual Health Insurance Policies

Individual Health insurance is offered to people that have jobs that does not offer health insurance and also to entrepreneurs.

Some offers a Short-Term plans which is for those who want coverage for only one to six months

Individual Health InsurancePros You can keep your

same coverage even if you change jobs.

Cons It has very high

monthly premiums and large deductibles.

Insurance companies might deny coverage for people with a preexisting conditions

Government Programs Federal and state governments

run health care programs for specific segments for the population. Medicare Medicaid State-Run Heath Care Programs Workers’ Compensation

Manage Care Plan An insurance plan

that focuses on managing the overall cost, use, and quality of the health care system.

HMOs Health

Maintenance Organization

PPOs Preferred Provider

Organization POS Plan

Point-of-Service Plans

Disability Insurance It replaces a portion of lost income

if the policyholder is unable to work due to illness or injuryTypes of Disability Insurance:

Employer Plans Social Security Disability Coverage Workers Compensation Insurance Individual disability insurance

Health Care Insurance Agencies

Blue Cross Blue Shield Nationwide Aetna AARP Health Humana

Post – “Qs” Name the different types of cost in

health care insurance. What sources of health insurance

does the employers offers? What plan is offered under federal

law that covers you when leave the job up to 18 months?

Name several manage care plan?

Assignment Research a health care insurance

plan under a preferred agency that offers health insurance. Look up their plans and choose a plan or coverage and explain why it best fits your lifestyle or future lifestyle. Use Microsoft Word 2007. To research the Agencies use the Google, Bing, or Yahoo search engine.

Reference Personal Finance A Lifetime

Responsibility