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Health Insurance

Health Insurance. - A plan which pays for part or all of a person’s medical costs. PREMIUM: The amount you pay for insurance DEDUCTIBLE: The amount you have to pay each year before insurance will kick in. Health Maintenance Organizations (HMOs). Pay Monthly premium

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Health Insurance

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  1. Health Insurance - A plan which pays for part or all of a person’s medical costs

  2. PREMIUM: The amount you pay for insurance • DEDUCTIBLE: The amount you have to pay each year before insurance will kick in

  3. Health Maintenance Organizations(HMOs) • Pay Monthly premium • Few or no out of pocket expenses • See only physicians who have signed agreement with the HMO

  4. Preferred Provider Organizations(PPOs) • Members pay monthly premium • Providers (doctors) charge organization (insurance company) less than their regular fee for members to use • Can choose provider out of plan • Has higher out of pocket expense

  5. Practice (Pg. 71) • #1 Hospital = $3500 5 doc appointments @ $95 How much does he pay with his insurance? Cost= 20% Hospital + $15 (5 appointments) C= 0.20H + 5($15) (answer: D)

  6. Practice (Pg. 71) • #2 Eye Exam $100 Glasses $365 Insurance pays: $365- $100 = $265 (answer choice: A)

  7. Hernandez $243 per month 80% of hospital $15 per doc visit No Vision Gomez $405 per month All Hospital $10 per doc visit 100% Eye Exam $100 for glasses/ contacts #3 Coverages

  8. Medical Expenses 1 Year • $10,000 Hospital Stay • 12 Doctor trips • 4 Eye Exams @ $100 • 2 Glasses @ $300 each

  9. Hernandez __________ Hospital ___________Doc Visit ___________Vision ___________Glasses ____________TOTAL _________ insurance _________ med expense _________ Total Out of Pocket Hernandez

  10. Gomez __________ Hospital ___________Doc Visit ___________Vision ___________Glasses ____________TOTAL _________ insurance _________ med expense _________ Total Out of Pocket Gomez

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