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LIFE AND HEALTH INSURANCE (HEALTH INSURANCE AND FINANCIAL PLANNING (THE…
LIFE AND HEALTH INSURANCE
health care cost
expensive technologies
increasing number and longevity of elderly people
Increasing accident
emergency services
malpractice insurance
aging baby boomer
innovative treatment for aids and cancer
THE HIGH COST OF HEALTH CARE
People take better care of themselves
Health care resource
Encourage prepaid group practice
HOW REDUCE PERSONAL HEALTH CARE COST
avoid smoke
don't drink to excess
eat balance diet
keep body weight control
relaxing
exercise
HEALTH INSURANCE AND FINANCIAL PLANNING
40% are older than age 25
individual insurance available
guaranteed renewability
THE COORDINATION OF BENEFITS PROVISION
in a policy says that benefit received from all sources are limited to 100% of allowable medical expenses
A GOOD HEALTH INSURANCE PLAN SHOULD
offer basic coverage for hospital and doctor bills
cover at least 120 days hospital room and board
provide at least $1,000,000 lifetime maximum for each family member
impose no unreasonable exclusive
TYPE OF HEALTH CRE COVERAGE
hospital expenses insurance
surgical expenses insurance
physician expenses insurance
major medical expenses insurance
comprehensive major medical insurance
dread disease and cancer insurance policies
hospital indemnity
dental expenses insurance
vision care
long term care insurance
HEALTH INSURANCE POLICY PROVISION
eligibility
assigned benefits
internal limits
Co payment
service benefits Vs fixed amount
exclusive and limitations
coordination of benefits -coverage under more than one policy
guarantee renewable
cancellation and termination
TRADE-OFFS UK N CHOOSING A POLICY
reimbursement versus indemnity
inside limits versus aggregate limits
deductible and coinsurance
out of pocket limit, or stop loss
customary charges
PRUVATE SOURCES OF HEALTH INSURANCE AND HEALTH CARE
private insurance companies
hospital and medical services plans
managed care
TYPES OF MANAGED CARE
health maintenance organization
preferred provider organization
GOVERNMENT HEALTH CARE PROGRAMS
voluntary if have proof of coverage
medicare +choice plan
*medigap
medicaid
low income people of all ages
attention administered with federal guidelines
DISABILITY INCOME INSURANCE AND FINANCIAL PLANNING
disability is more likely than death at any age
If you become disabled your income drops but your expenses go up
provide regular Csh income lost as the result of an accident, illness or pregnancy
my only pay if you can't work at any job
look for a policy that pays if you are unable to work at your regular job
FOUR SOURCES OF DISABILITY INCOME
employer
social security
workman compensation
disability insurance