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The Health Insurance Project : The Healthcare Project

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The Health Insurance Project
The Healthcare Project, is used to help students get an opportunity to dig into the health insurance system and familiarize ourselves with facts to help better protect ourselves and families from accidents and illness that may come unnoticed. This project will consist of a cost/benefit analysis of two sets of data. The first being that I am twenty two years old and I am a fully functioning and healthy adult with an annual income of 21,000 dollars. Second being that I am twenty two years old and I have type one diabetes with an annual income of 21,000 dollars. These two differences in health could cause a change in health care choices because of the premiums, deductibles, copays, coinsurances and out of pocket cost.

Assuming that I am a healthy twenty two year old with only a 21,000 dollar income, the choice of having a lower premium every month is very much appealing! When looking at the grand scheme of life the overall expense of living is large, especially on that low budget income. In this case I would be influenced to go with a lower monthly premium plan like Priority Health - MyPriority HMO HSA Bronze 6550, the premium before a monthly tax credit would be 173 dollars and after the tax credit would be 42 dollars. The huge benefit to this would be that at the end of the year I would only be spending 504 dollars for health insurance and be able to put my funds to better use elsewhere, barring that at twenty two years old, I do not come down
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