Lesson 9 - Overview

Lesson 9 - Health and Disability Income Insurance

Objectives

Upon successful completion of this lesson, students will be able to:

LO9.1	Recognize the importance of health insurance in financial planning.
LO9.2	Analyze the costs and benefits of various types of health insurance coverage as well as major provisions in health insurance policy.
LO9.3	Assess the trade-offs of different health insurance plans.
LO9.4	Evaluate the differences among health care plans offered by private companies and by the government.
LO9.5	Explain the importance of disability income insurance in financial planning and identify its sources.
LO9.6	Explain why the costs of health insurance and health care have been increasing.

Overview

Health insurance is a form of protection that eases the financial burden people may experience as a result of illness or injury. You pay a premium, or fee, to the insurer. In return the company pays most of your medical costs. Although plans vary in what they cover, they may reimburse you for hospital stays, doctors’ visits, medications, and sometimes vision and dental care.

Health insurance includes both medical expense insurance, as discussed above, and disability income insurance. Medical expense insurance typically pays only the actual medical costs. Disability income insurance provides payments to make up for some of the income of a person who cannot work as a result of injury or illness. In this chapter the term “health insurance” refers to medical expense insurance.

Health insurance plans can be purchased in several different ways: group health insurance, individual health insurance, and COBRA.

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Chapter 9 (LearnSmart)

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LearnSmart (estimated 45 minutes, but will vary by user)
Chapter 9 Homework (5 questions, You may want to wait until after math lesson in class.)