1. Benefit of health insurance - A cautionary tale In 2016, Juanita became responsible for providing her own health insurance. She obtained suitable coverage and paid annual premiums as shown in the following table. Compute Juanita's total premiums: Juanita's Premiums 2016 2017 2018 2019 Total $4,479 4,704 4,824 5,049 $ Except for an occasional minor illness requiring a doctor's attention, a drug prescription, and periodic, routine tests, Juanita enjoyed good health during those years. Because she had no reason to think that would change, by the end of 2018, Juanita was considering dropping her health insurance coverage. After all, she could think of a lot of other uses for the thousands of dollars she spent each year on increasing premiums. Juanita decided to pay premiums for another year but planned to take another look at her health care plan at the end of 2019. It Could Happen to You, It Could Happen to Me In December 2019, Juanita accepted an invitation from friends to go snowboarding. Juanita did everything right: took a lesson, stayed on trails well within her skill level, and maintained an awareness of people and objects near her. Even though she thought it was a bit dorky to wear wrist guards and a helmet, her friends insisted that she take standard and reasonable safety measures. Juanita was enjoying the day when, from out of nowhere (actually, the woods), came an out of control skier who ran into Juanita. Juanita was injured and taken to the nearest hospital by ambulance. Juanita's injuries included a broken wrist and elbow as well as cuts and bruises. Of biggest concern was the uncertainty of her head injury. Juanita spent a couple of days in intensive care. Fortunately, she didn't have a broken skull, but did have a concussion. Surgery was performed to repair the broken wrist and elbow. Since Juanita was in good health, her recovery was complete. Juanita returned to full function in about six months. Soon after Juanita returned home, however, the medical bills for the ambulance, emergency room, intensive care, medications, doctors, tests, and other services arrived. Juanita also had to have physical therapy for her wrist and elbow. Her total medical expenses were $30,000. It was time to find out if all those premiums paid since 2016 would pay off for just one, albeit dramatic, incident. broken wrist and elbow. Since Juanita was in good nealth, ner recovery was complete. Juanita returned to full function in about six months. Soon after Juanita returned home, however, the medical bills for the ambulance, emergency room, intensive care, medications, doctors, tests, and other services arrived. Juanita also had to have physical therapy for her wrist and elbow. Her total medical expenses were $30,000. It was time to find out if all those premiums paid since 2016 would pay off for just one, albeit dramatic, incident. Overall, Juanita's insurance paid 80% of the total medical expenses, thus making her responsible for $5,250 Juanita's Insurance paid $29,750 Her out-of-pocket expenses for the accident of $5,250 plus the 2019 insurance premiums of 15% of the expenses, or $5,049 totaled If Juanita had canceled her health insurance at the end of 2018, her out-of-pocket expenses for the accident would have been 5 this case, did Juanita benefit from having health insurance? What are reasonable morals of the story? Check all that apply. Don't get sick. Avoid engaging in physical activity. It can be financially risky to go without health insurance. Your health can change in an instant. Think long and hard about the best tradeoff of coverage and cost in a health care plan. In this case, Juanita's out-of-pocket expenses specific to her snowboarding accident would have been the more premium her employer pays, the more coverage there is more than $10,299 Some employers pay part or all of the health insurance premiums for employees who are enrolled in one of the company's sponsored plans. Assume that during the same time period that Juanita paid for her premiums in full that she had, instead, worked for a firm that paid 25% of her premiums for the same coverage. Instead of paying premiums of $19,056 over the years, Juanita would have paid $14,292.0 and saved $4,764 In they actually were because broken wrist and elbow. since Juanita was in good health, her recovery was complete. Juanita returned to rull function in about six months. Soon after Juanita returned home, however, the medical bills for the ambulance, emergency room, intensive care, medications, doctors, tests, and other services arrived. Juanita also had to have physical therapy for her wrist and elbow. Her total medical expenses were $30,000. It was time to find out if all those premiums paid since 2016 would pay off for just one, albeit dramatic, incident. Overall, Juanita's insurance paid 80% of the total medical expenses, thus making her responsible for $5,250. Juanita's Insurance paid $29,750 Her out-of-pocket expenses for the accident of $5,250 plus the 2019 insurance premiums of No If Juanita had canceled her health insurance at the end of 2018, her out-of-pocket expenses for the accident would have been this case, did Juanita benefit from having health insurance? What are reasonable morals of the story? Check all that appl Yes Don't get sick. Avoid engaging in physical activity. It can be financially risky to go without health insurance. Your health can change in an instant. Think long and hard about the best tradeoff of coverage and cost in a health care plan. Neither, she broke even 15% of the expenses, or $5,049 totaled In this case, Juanita's out-of-pocket expenses specific to her snowboarding accident would have been the more premium her employer pays, the more coverage there is $10,299 Some employers pay part or all of the health insurance premiums for employees who are enrolled in one of the company's sponsored plans. Assume that during the same time period that Juanita paid for her premiums in full that she had, instead, worked for a firm that paid 25% of her premiums for the same coverage. Instead of paying premiums of $19,056 over the years, Juanita would have paid $14,292.0 and saved $4,764 more than In they actually were because Your Health broken wrist and elbow. Since Juanita was in good health, her recovery was complete. Juanita returned to full runction in about six months. Soon after Juanita returned home, however, the medical bills for the ambulance, emergency room, intensive care, medications, doctors, tests, and other services arrived. Juanita also had to have physical therapy for her wrist and elbow. Her total medical expenses were $30,000. It was time to find out if all those premiums paid since 2016 would pay off for just one, albeit dramatic, incident. Overall, Juanita's insurance paid 80% of the total medical expenses, thus making her responsible for $5,250. Juanita's insurance paid $29,750 Her out-of-pocket expenses for the accident of $5,250 plus the 2019 insurance premiums of If Juanita had canceled her health insurance at the end of 2018, her out-of-pocket expenses for the accident would have been 5 this case, did Juanita benefit from having health insurance? What are reasonable morals of the story? Check all that apply. Don't get sick. Avoid engaging in physical activity. It can be financially risky to go without health insurance. Your health can change in an instant. Think long and hard about the best tradeoff of coverage and cost in a health care plan. Some employers pay part or all of the health insurance premiums for employees who are enrolled in of that during the same time period that Juanita paid for her premiums in full that she had, instead, work the same coverage. Instead of paying premiums of $19,056 over the years, Juanita would hay $4,764 In this case, Juanita's out-of-pocket expenses specific to her snowboarding accident would have been the more premium her employer pays, the more coverage there is 15 % of the expenses, or $5,049 totaled less than more than the same as more than $10,299 In any's sponsored plans. Assume at paid 25% of her premiums for $14,292.0 and saved they actually were because overy was complete. Juanita returned to full function in about six months. Soon after Juanita returned home, however, the medical bills for the ambulance, emergency room, intensive care, medications, doctors, tests, and other services arrived. Juanita also had to have physical therapy for her wrist and elbow. Her total medical expenses were $30,000. It was time to find i out if all those premiums paid since 2016 would pay off for just one, albeit dramatic, incident. Overall, Juanita's insurance paid 80% of the total medical expenses, thus making her responsible for $5,250]. Juanita's Insurance paid $29,750 Her out-of-pocket expenses for the accident of $5,250 plus the 2019 insurance premiums of If Juanita had canceled her health insurance at the end of 2018, her out-of-pocket expenses for the accident would have been this case, did Juanita benefit from having health insurance? What are reasonable morals of the story? Check all that apply. Don't get sick. Avoid engaging in physical activity. It can be financially risky to go without health insurance. Your health can change in an instant. Think long and hard about the best tradeoff of coverage and cost in a health care plan. 15% of the expenses, or her employer only contributes to premiums the more premium her employer pays, the less coverage there is the more premium her employer pays, the more coverage there is the more premium her employer pays, the more coverage there is $5,049 totaled rding accident would have been more than $10,299 Some employers pay part or all of the health insurance premiums for employees who are enrolled in one of the company's sponsored plans. Assume n full that she had, instead, worked for a firm that paid 25% of her premiums for over the years, Juanita would have paid. $14,292.0 and saved . In they actually were because 1. Benefit of health insurance - A cautionary tale In 2016, Juanita became responsible for providing her own health insurance. She obtained suitable coverage and paid annual premiums as shown in the following table. Compute Juanita's total premiums: Juanita's Premiums 2016 2017 2018 2019 Total $4,479 4,704 4,824 5,049 $ Except for an occasional minor illness requiring a doctor's attention, a drug prescription, and periodic, routine tests, Juanita enjoyed good health during those years. Because she had no reason to think that would change, by the end of 2018, Juanita was considering dropping her health insurance coverage. After all, she could think of a lot of other uses for the thousands of dollars she spent each year on increasing premiums. Juanita decided to pay premiums for another year but planned to take another look at her health care plan at the end of 2019. It Could Happen to You, It Could Happen to Me In December 2019, Juanita accepted an invitation from friends to go snowboarding. Juanita did everything right: took a lesson, stayed on trails well within her skill level, and maintained an awareness of people and objects near her. Even though she thought it was a bit dorky to wear wrist guards and a helmet, her friends insisted that she take standard and reasonable safety measures. Juanita was enjoying the day when, from out of nowhere (actually, the woods), came an out of control skier who ran into Juanita. Juanita was injured and taken to the nearest hospital by ambulance. Juanita's injuries included a broken wrist and elbow as well as cuts and bruises. Of biggest concern was the uncertainty of her head injury. Juanita spent a couple of days in intensive care. Fortunately, she didn't have a broken skull, but did have a concussion. Surgery was performed to repair the broken wrist and elbow. Since Juanita was in good health, her recovery was complete. Juanita returned to full function in about six months. Soon after Juanita returned home, however, the medical bills for the ambulance, emergency room, intensive care, medications, doctors, tests, and other services arrived. Juanita also had to have physical therapy for her wrist and elbow. Her total medical expenses were $30,000. It was time to find out if all those premiums paid since 2016 would pay off for just one, albeit dramatic, incident. broken wrist and elbow. Since Juanita was in good nealth, ner recovery was complete. Juanita returned to full function in about six months. Soon after Juanita returned home, however, the medical bills for the ambulance, emergency room, intensive care, medications, doctors, tests, and other services arrived. Juanita also had to have physical therapy for her wrist and elbow. Her total medical expenses were $30,000. It was time to find out if all those premiums paid since 2016 would pay off for just one, albeit dramatic, incident. Overall, Juanita's insurance paid 80% of the total medical expenses, thus making her responsible for $5,250 Juanita's Insurance paid $29,750 Her out-of-pocket expenses for the accident of $5,250 plus the 2019 insurance premiums of 15% of the expenses, or $5,049 totaled If Juanita had canceled her health insurance at the end of 2018, her out-of-pocket expenses for the accident would have been 5 this case, did Juanita benefit from having health insurance? What are reasonable morals of the story? Check all that apply. Don't get sick. Avoid engaging in physical activity. It can be financially risky to go without health insurance. Your health can change in an instant. Think long and hard about the best tradeoff of coverage and cost in a health care plan. In this case, Juanita's out-of-pocket expenses specific to her snowboarding accident would have been the more premium her employer pays, the more coverage there is more than $10,299 Some employers pay part or all of the health insurance premiums for employees who are enrolled in one of the company's sponsored plans. Assume that during the same time period that Juanita paid for her premiums in full that she had, instead, worked for a firm that paid 25% of her premiums for the same coverage. Instead of paying premiums of $19,056 over the years, Juanita would have paid $14,292.0 and saved $4,764 In they actually were because broken wrist and elbow. since Juanita was in good health, her recovery was complete. Juanita returned to rull function in about six months. Soon after Juanita returned home, however, the medical bills for the ambulance, emergency room, intensive care, medications, doctors, tests, and other services arrived. Juanita also had to have physical therapy for her wrist and elbow. Her total medical expenses were $30,000. It was time to find out if all those premiums paid since 2016 would pay off for just one, albeit dramatic, incident. Overall, Juanita's insurance paid 80% of the total medical expenses, thus making her responsible for $5,250. Juanita's Insurance paid $29,750 Her out-of-pocket expenses for the accident of $5,250 plus the 2019 insurance premiums of No If Juanita had canceled her health insurance at the end of 2018, her out-of-pocket expenses for the accident would have been this case, did Juanita benefit from having health insurance? What are reasonable morals of the story? Check all that appl Yes Don't get sick. Avoid engaging in physical activity. It can be financially risky to go without health insurance. Your health can change in an instant. Think long and hard about the best tradeoff of coverage and cost in a health care plan. Neither, she broke even 15% of the expenses, or $5,049 totaled In this case, Juanita's out-of-pocket expenses specific to her snowboarding accident would have been the more premium her employer pays, the more coverage there is $10,299 Some employers pay part or all of the health insurance premiums for employees who are enrolled in one of the company's sponsored plans. Assume that during the same time period that Juanita paid for her premiums in full that she had, instead, worked for a firm that paid 25% of her premiums for the same coverage. Instead of paying premiums of $19,056 over the years, Juanita would have paid $14,292.0 and saved $4,764 more than In they actually were because Your Health broken wrist and elbow. Since Juanita was in good health, her recovery was complete. Juanita returned to full runction in about six months. Soon after Juanita returned home, however, the medical bills for the ambulance, emergency room, intensive care, medications, doctors, tests, and other services arrived. Juanita also had to have physical therapy for her wrist and elbow. Her total medical expenses were $30,000. It was time to find out if all those premiums paid since 2016 would pay off for just one, albeit dramatic, incident. Overall, Juanita's insurance paid 80% of the total medical expenses, thus making her responsible for $5,250. Juanita's insurance paid $29,750 Her out-of-pocket expenses for the accident of $5,250 plus the 2019 insurance premiums of If Juanita had canceled her health insurance at the end of 2018, her out-of-pocket expenses for the accident would have been 5 this case, did Juanita benefit from having health insurance? What are reasonable morals of the story? Check all that apply. Don't get sick. Avoid engaging in physical activity. It can be financially risky to go without health insurance. Your health can change in an instant. Think long and hard about the best tradeoff of coverage and cost in a health care plan. Some employers pay part or all of the health insurance premiums for employees who are enrolled in of that during the same time period that Juanita paid for her premiums in full that she had, instead, work the same coverage. Instead of paying premiums of $19,056 over the years, Juanita would hay $4,764 In this case, Juanita's out-of-pocket expenses specific to her snowboarding accident would have been the more premium her employer pays, the more coverage there is 15 % of the expenses, or $5,049 totaled less than more than the same as more than $10,299 In any's sponsored plans. Assume at paid 25% of her premiums for $14,292.0 and saved they actually were because overy was complete. Juanita returned to full function in about six months. Soon after Juanita returned home, however, the medical bills for the ambulance, emergency room, intensive care, medications, doctors, tests, and other services arrived. Juanita also had to have physical therapy for her wrist and elbow. Her total medical expenses were $30,000. It was time to find i out if all those premiums paid since 2016 would pay off for just one, albeit dramatic, incident. Overall, Juanita's insurance paid 80% of the total medical expenses, thus making her responsible for $5,250]. Juanita's Insurance paid $29,750 Her out-of-pocket expenses for the accident of $5,250 plus the 2019 insurance premiums of If Juanita had canceled her health insurance at the end of 2018, her out-of-pocket expenses for the accident would have been this case, did Juanita benefit from having health insurance? What are reasonable morals of the story? Check all that apply. Don't get sick. Avoid engaging in physical activity. It can be financially risky to go without health insurance. Your health can change in an instant. Think long and hard about the best tradeoff of coverage and cost in a health care plan. 15% of the expenses, or her employer only contributes to premiums the more premium her employer pays, the less coverage there is the more premium her employer pays, the more coverage there is the more premium her employer pays, the more coverage there is $5,049 totaled rding accident would have been more than $10,299 Some employers pay part or all of the health insurance premiums for employees who are enrolled in one of the company's sponsored plans. Assume n full that she had, instead, worked for a firm that paid 25% of her premiums for over the years, Juanita would have paid. $14,292.0 and saved . In they actually were because