Assignment 8 Carla Capobianco

A Quick Response will be appreciated

List the few factors you should consider when evaluating the benefits of health insurance .What are the policy's sibling benefits? What exceptions lead to an emergency room visit? What is the potential cost of coverage ?

The best strategy for health insurance coverage is to purchase a comprehensive policy. Of the following, which additional coverage should you not buy if it is not provided at work or in your individual policy? ○ Accident Terminal Disease O Dental O Eyewear O You should not buy any of the above

Please add a source to the question. If you do want to elect COBRA coverage, what are some important considerations to make sure your health insurance coverage is not interrupted?

The health care industry is changing. Differentiate among the major types of health care plans and identify the plan that would meet your health care needs.

An important distinction in health insurance is between the list price (PL) and out-of-pocket price (PP) of a medical good or service. The list price is the official price that the provider charges the insurance company, while the out-of-pocket price is the price that the insurance customer faces. Sometimes, the out-of-pocket price depends on the list price.   Now assume the consumer is part of a partial insurance plan with a coinsurance provision. Her insurance pays 50% of all medical expenses. Consider again the relationship between PL and PP and plot a coinsurance plan demand curve in PL - Q space. Label this curve D3. Finally, assume the consumer is part of a partial insurance plan with a copayment provision. Her insurance pays all expenses above and beyond her copayment of $25 for each unit of Q. Consider again the relationship between PL and PP and plot a copayment-plan demand curve in PL - Q space. Label this curve D4.

Briefly explain the following characteristics of long-term care insurance. Type of long-term care policies Triggers to become eligible for benefits Exclusions Protection against inflation

You would have a better chance of insurance coverage for medical services not provided by the network with a preferred provider organization (PPO) than with a health maintenance organization (HMO) plan.   Group of answer choices a. True b. False

In the context of the health insurance and the life insurance, choose the sentence that IS NOT CORRECT: *   The deductible in a health insurance is an amount of money the insured must pay before benefits become payable by the insurance company. When we buy a health insurance, we should make sure that we have enough insurance (the opportunity cost of not being adequately insured can be extremely high), but without wasting money by overinsuring Group Health Insurance (most of them being employer sponsored) represents a small percentage (around 5%) of all health insurance issued by health and life insurance companies. In a life insurance, a person purchases a policy by paying a premium and the insurance company promises to pay a sum of money at the time of the policyholder’s death to the designated beneficiary.

Briefly explain the following characteristics of long-term care insurance. Protection against inflation

10. The reasons of buying life insurance are: i. To ensure immediate family members are able to maintain the same standard of living upon the demise of the breadwinner ii. To ensure the policyholder has extra income when his earnings are reduced due to serious illness or accident iii. To finance children education iv. To have a saving plan for the future and have a constant source of income upon retirement A. i and ii B. i,ii and iii C. i,i and iv D. All of the above

What are the advantages and disadvantages of HAS along with a high-deductible health insurance plan?

Pros and cons of long-term care insurance.   Discuss the pros and cons of long-term-care insurance. Does it make sense for anyone in your family right now? Why or why not? What factors might change this assessment in the future?

How does the imperfect information in insurance markets cause an  increase in health care costs? Explain with great detail.

Which is Idemenity Plan and which is Managed Care Plan? Insureds create contract with an insurer who does not provide health care services       The higher the deductible, the lower the premium       Insured receive health care services from a designated group of providers       May not even involve an insurance company       No annual deduction is incurred, but a small co-payment may be required I most value the freedom of choice and am willing to pay for it.       Cost is my most important consideration.       I’d rather have the flexibility of either having the insurance company reimburse me or directly paying the health care provider.

What were your feelings about your need for life insurance before you read this chapter? What are they now? What is the difference between Term and whole life insurance? Which one do you prefer? and why?

The executive team is debating offering a standard group health insurance plan with a healthcare flexible spending account (FSA) or a high deductible group health insurance plan with a health savings account (HSA). They believe they understand the differences between the two group health insurance plans but are less clear on how FSAs and HSAs differ. Explain in clear language the differences between FSAs and HSAs so they can make an informed decision.