AutoSave OFF 92 - C A Home Insert Draw Design LG Paste Page 1 of 5 Layout References Times New... 12 A A Aav Po BIU ab x x A A.D.A. 821 words WE Unit 7 Project - Saved to my Mac Acrobat Tell me AaBbCcDdEe Normal AaBbCcDdE > AaBbCcDdEe No Spacing AaBbCcD Heading 1 Heading 2 Styles. V Pane Learning Goals: Understand the concept of protection and how it relates to risk and risk management. Understand the role of insurance in protecting human, financial, and property assets. Understand the importance of basic estate planning documents. Don and Kasey Johnson are a married couple. They are both 30 years old and they have a 3-year-old girl. Don is a loan officer and earns $75,000 a year. Kasey works as a retail store manager and earns $45,000 a year. Don's life expectancy is 80 years and Kasey is 82. They plan on retiring when they are 65. There are three health insurance policies that they could choose from (see page 3-5). 1. Health Insurance: a. Help Don and Kasey to determine which of the three plans to choose. They want to know which plan would be best if they estimate their medical costs at approximately $2,500 per year and which plan to use if they estimate their medical costs closer to $25,000 per year. Help the Johnsons determine how much of their risk they should transfer and how much they should retain (for example a higher deductible means they are retaining more risk). Low Medical Expenses (-$2,500/year) High Medial Expenses (-$25,000/year) Estimated Medical FirstCare Bronze FirstCare Gold Blue Choice FirstCare FirstCare Blue Choice Bronze Gold Gold Cost: Gold Out of Pocket Expenses: Annual Premium: Total Cost: Which plan should they choose? And Why? b. Now suppose you are choosing the insurance for yourself. Based on your own situation, what is your annual medical cost and which insurance are you going to choose based on your family, history, lifestyle, etc.? Why? Accessibility: Investigate Focus English (United States) Mailings Review View E Dictate Editor REE Share Create and Share Adobe PDF Comments XAN Request Signatures + 121% AutoSave OFF A 92 - C Home Insert Draw Design LG Paste Page 2 of 5 Times New... 12 BIUab x x 821 words R WE Unit 7 Project - Saved to my Mac Review View Acrobat Tell me F == AaBbCcDdEe Normal AaBb CcDd Ee No Spacing V a. What type of life insurances the Johnsons get? Term Life Insurance Cash-Value Whole Life Insurance b. Explain your reasoning with evidence from the course materials: a. What type of disability insurance should the Johnsons get? Disability Insurance Coverage for Don: Disability Insurance Coverage for Kasey: Short Term Short Term b. Explain your reasoning with evidence from the course materials: a. Should the Johnsons get long-term care insurance? Yes b. Explain your reasoning with evidence from the course materials: Accessibility: Investigate Mailings 2. Life Insurance: Layout A A Aa A A A References Po 3. Disability Insurance: 4. Long-Term Care Insurance: English (United States) AaBb CcD Heading 1 Long Term Long Term AaBbCcDdE > Heading 2 None None None No Styles. Pane Focus Dictate Editor REE Share Comments XAN Create and Share Request Adobe PDF Signatures + 148% AutoSave OFF A 92 - C Home Insert Draw Design Times New... 12 A^ A LG Paste BIU ab x x A Page 3 of 5 821 words Layout References Aav Po V A A X English (United States) WE Unit 7 Project - Saved to my Mac Mailings Review View Acrobat Tell me == AaBbCcDdEe Normal V FirstCare. FirstCare Health Plans Bronze * HEALTH PLANS Firstcare Health Plans HMO In Network $4,500 $10,000 30% $6,350 $12,700 In Network $60 $70 Copay after deductible 30% Coinsurance after deductible. $300 Copay after deductible $70 copay 30% coinsurance $70 copay $70 copay $0 $0 30% coinsurance. In Network $20 Copay after deductible $50 Copay after deductible $70 Copay after deductible 30% Coinsurance after deductible Deductible Coinsurance Out of Pocket Maximum More Details Find a Provider Deductibles and Cost Sharing Deductible (Individual) Deductible (Family) Coinsurance Out of Pocket Maximum (Individual) Out of Pocket Maximum (Family) Services Primary Care Visit Specialist Visit In Patient Hospital Services Emergency Room Services Mental / Behavioral Health Imaging (CT/PET Scans, MRIS) Rehabilitative Speech Therapy Rehabilitative Occupational & Physical Therapy Preventative Care Laboratory Outpatient and Professional Services X-ray and Diagnostic Imaging Prescription Drugs Generic Rx Preferred Brand Rx Non Preferred Brand Rx Specialty Drugs Accessibility: Investigate $4,500 30% $6,350 AaBbCcDdEe No Spacing AaBbCcD AaBbCcDdE Heading 1 Heading 2 Monthly Cost $209.97 Premium: $209.97 Subsidy: $0.00 Out of Network $0 $0 $0 $0 $0 Out of Network so SO $0 $300 copay $0 $0 $0 SO $0 $0 $0 Out of Network > Styles. Pane Focus E Dictate Editor REE Share Comments XAN Create and Share Request Adobe PDF Signatures + 113% AutoSave OFF A 92 - C Home Insert Draw Design LG Paste Page 4 of 5 Layout A^ A Times New... 12 BIU ab x x A 821 words References Aav Po V A A X English (United States) Mailings Review FirstCare HEALTH PLANS W Unit 7 Project - Saved to my Mac View Acrobat Tell me == A AaBbCcDdEe Normal V FirstCare Health Plans Gold Firstcare Health Plans HMO Deductible Coinsurance Out of Pocket Maximum More Details Find a Provider Deductibles and Cost Sharing Deductible (Individual) Deductible (Family) Coinsurance Out of Pocket Maximum (Individual) Out of Pocket Maximum (Family) Services Primary Care Visit Specialist Visit In Patient Hospital Services Emergency Room Services Mental / Behavioral Health Imaging (CT/PET Scans, MRIS) Rehabilitative Speech Therapy Rehabilitative Occupational & Physical Therapy Preventative Care Laboratory Outpatient and Professional Services X-ray and Diagnostic Imaging Prescription Drugs Generic Rx Preferred Brand Rx Non Preferred Brand Rx Specialty Drugs Accessibility: Investigate 0% 20% $6.350 In Network SO $0 20% $6,350 $12,700 In Network $30 $50 20% $250 $50 copay 20% coinsurance. $50 copay $50 copay SO SO $0 In Network $20 $50 $70 20% AaBbCcDdEe No Spacing AaBbCcD Heading 1 Monthly Cost $271.26 Premium: $271.26 Subsidy: $0.00 Out of Network SO $0 $0 $0 SO Out of Network $0 SO $0 $250 copay $0 $0 $O SO SO SO SO Out of Network AaBbCcDdE Heading 2 > Styles. Pane Focus E Dictate Editor REE Share Comments XAN Create and Share Request Adobe PDF Signatures + 113% AutoSave OFF A 92 - C Home Insert Draw Design LG Paste Page 5 of 5 821 words Layout A^ A Times New... 12 BIU ab x x A References Mailings Aav Po E- V A A X English (United States) View # V Blue Choice Gold PPO 002 BlueCross. BlueShield. Blue Cross Blue Shield of Texas PPO Review WE Unit 7 Project - Saved to my Mac Acrobat Tell me AaBbCcDdEe Normal Deductible Coinsurance Out of Pocket Maximum More Details Find a Provider Deductibles and Cost Sharing Deductible (Individual) Deductible (Family) Coinsurance Out of Pocket Maximum (Individual) Out of Pocket Maximum (Family) Services Primary Care Visit Specialist Visit In Patient Hospital Services Emergency Room Services Mental / Behavioral Health Imaging (CT/PET Scans, MRIS) Rehabilitative Speech Therapy Rehabilitative Occupational & Physical Therapy Preventative Care Laboratory Outpatient and Professional Services X-ray and Diagnostic Imaging Prescription Drugs Generic Rx Preferred Brand Rx Non Preferred Brand Rx Specialty Drugs Accessibility: Investigate In Network $1,500 $4,500 20% $3,500 $10,500 In Network $10 $60 $200 Copay per Stay and 20% Coinsurance $400 Copay and 20% Coinsurance a $10 copay 20% coinsurance 20% coinsurance 20% coinsurance $0 20% coinsurance 20% coinsurance In Network No Charge $35 $75 $150 $1,500 20% $3,500 AaBbCcDdEe No Spacing AaBbCcD Heading 1 Monthly Cost $333.69 Premium: $333.69 Subsidy: $0.00 Out of Network $3,000 $9,000 40% $7,000 $21,000 Out of Network 40% coinsurance 40% coinsurance 40% coinsurance 20% coinsurance after $400 copay/visit 40% coinsurance 40% coinsurance 40% coinsurance 40% coinsurance 40% coinsurance 40% coinsurance 40% coinsurance Out of Network AaBbCcDdE Heading 2 > Styles. Pane Focus E Dictate Editor REE Share Create and Share Adobe PDF Comments XAN Request Signatures + SU 113% AutoSave OFF 92 - C A Home Insert Draw Design LG Paste Page 1 of 5 Layout References Times New... 12 A A Aav Po BIU ab x x A A.D.A. 821 words WE Unit 7 Project - Saved to my Mac Acrobat Tell me AaBbCcDdEe Normal AaBbCcDdE > AaBbCcDdEe No Spacing AaBbCcD Heading 1 Heading 2 Styles. V Pane Learning Goals: Understand the concept of protection and how it relates to risk and risk management. Understand the role of insurance in protecting human, financial, and property assets. Understand the importance of basic estate planning documents. Don and Kasey Johnson are a married couple. They are both 30 years old and they have a 3-year-old girl. Don is a loan officer and earns $75,000 a year. Kasey works as a retail store manager and earns $45,000 a year. Don's life expectancy is 80 years and Kasey is 82. They plan on retiring when they are 65. There are three health insurance policies that they could choose from (see page 3-5). 1. Health Insurance: a. Help Don and Kasey to determine which of the three plans to choose. They want to know which plan would be best if they estimate their medical costs at approximately $2,500 per year and which plan to use if they estimate their medical costs closer to $25,000 per year. Help the Johnsons determine how much of their risk they should transfer and how much they should retain (for example a higher deductible means they are retaining more risk). Low Medical Expenses (-$2,500/year) High Medial Expenses (-$25,000/year) Estimated Medical FirstCare Bronze FirstCare Gold Blue Choice FirstCare FirstCare Blue Choice Bronze Gold Gold Cost: Gold Out of Pocket Expenses: Annual Premium: Total Cost: Which plan should they choose? And Why? b. Now suppose you are choosing the insurance for yourself. Based on your own situation, what is your annual medical cost and which insurance are you going to choose based on your family, history, lifestyle, etc.? Why? Accessibility: Investigate Focus English (United States) Mailings Review View E Dictate Editor REE Share Create and Share Adobe PDF Comments XAN Request Signatures + 121% AutoSave OFF A 92 - C Home Insert Draw Design LG Paste Page 2 of 5 Times New... 12 BIUab x x 821 words R WE Unit 7 Project - Saved to my Mac Review View Acrobat Tell me F == AaBbCcDdEe Normal AaBb CcDd Ee No Spacing V a. What type of life insurances the Johnsons get? Term Life Insurance Cash-Value Whole Life Insurance b. Explain your reasoning with evidence from the course materials: a. What type of disability insurance should the Johnsons get? Disability Insurance Coverage for Don: Disability Insurance Coverage for Kasey: Short Term Short Term b. Explain your reasoning with evidence from the course materials: a. Should the Johnsons get long-term care insurance? Yes b. Explain your reasoning with evidence from the course materials: Accessibility: Investigate Mailings 2. Life Insurance: Layout A A Aa A A A References Po 3. Disability Insurance: 4. Long-Term Care Insurance: English (United States) AaBb CcD Heading 1 Long Term Long Term AaBbCcDdE > Heading 2 None None None No Styles. Pane Focus Dictate Editor REE Share Comments XAN Create and Share Request Adobe PDF Signatures + 148% AutoSave OFF A 92 - C Home Insert Draw Design Times New... 12 A^ A LG Paste BIU ab x x A Page 3 of 5 821 words Layout References Aav Po V A A X English (United States) WE Unit 7 Project - Saved to my Mac Mailings Review View Acrobat Tell me == AaBbCcDdEe Normal V FirstCare. FirstCare Health Plans Bronze * HEALTH PLANS Firstcare Health Plans HMO In Network $4,500 $10,000 30% $6,350 $12,700 In Network $60 $70 Copay after deductible 30% Coinsurance after deductible. $300 Copay after deductible $70 copay 30% coinsurance $70 copay $70 copay $0 $0 30% coinsurance. In Network $20 Copay after deductible $50 Copay after deductible $70 Copay after deductible 30% Coinsurance after deductible Deductible Coinsurance Out of Pocket Maximum More Details Find a Provider Deductibles and Cost Sharing Deductible (Individual) Deductible (Family) Coinsurance Out of Pocket Maximum (Individual) Out of Pocket Maximum (Family) Services Primary Care Visit Specialist Visit In Patient Hospital Services Emergency Room Services Mental / Behavioral Health Imaging (CT/PET Scans, MRIS) Rehabilitative Speech Therapy Rehabilitative Occupational & Physical Therapy Preventative Care Laboratory Outpatient and Professional Services X-ray and Diagnostic Imaging Prescription Drugs Generic Rx Preferred Brand Rx Non Preferred Brand Rx Specialty Drugs Accessibility: Investigate $4,500 30% $6,350 AaBbCcDdEe No Spacing AaBbCcD AaBbCcDdE Heading 1 Heading 2 Monthly Cost $209.97 Premium: $209.97 Subsidy: $0.00 Out of Network $0 $0 $0 $0 $0 Out of Network so SO $0 $300 copay $0 $0 $0 SO $0 $0 $0 Out of Network > Styles. Pane Focus E Dictate Editor REE Share Comments XAN Create and Share Request Adobe PDF Signatures + 113% AutoSave OFF A 92 - C Home Insert Draw Design LG Paste Page 4 of 5 Layout A^ A Times New... 12 BIU ab x x A 821 words References Aav Po V A A X English (United States) Mailings Review FirstCare HEALTH PLANS W Unit 7 Project - Saved to my Mac View Acrobat Tell me == A AaBbCcDdEe Normal V FirstCare Health Plans Gold Firstcare Health Plans HMO Deductible Coinsurance Out of Pocket Maximum More Details Find a Provider Deductibles and Cost Sharing Deductible (Individual) Deductible (Family) Coinsurance Out of Pocket Maximum (Individual) Out of Pocket Maximum (Family) Services Primary Care Visit Specialist Visit In Patient Hospital Services Emergency Room Services Mental / Behavioral Health Imaging (CT/PET Scans, MRIS) Rehabilitative Speech Therapy Rehabilitative Occupational & Physical Therapy Preventative Care Laboratory Outpatient and Professional Services X-ray and Diagnostic Imaging Prescription Drugs Generic Rx Preferred Brand Rx Non Preferred Brand Rx Specialty Drugs Accessibility: Investigate 0% 20% $6.350 In Network SO $0 20% $6,350 $12,700 In Network $30 $50 20% $250 $50 copay 20% coinsurance. $50 copay $50 copay SO SO $0 In Network $20 $50 $70 20% AaBbCcDdEe No Spacing AaBbCcD Heading 1 Monthly Cost $271.26 Premium: $271.26 Subsidy: $0.00 Out of Network SO $0 $0 $0 SO Out of Network $0 SO $0 $250 copay $0 $0 $O SO SO SO SO Out of Network AaBbCcDdE Heading 2 > Styles. Pane Focus E Dictate Editor REE Share Comments XAN Create and Share Request Adobe PDF Signatures + 113% AutoSave OFF A 92 - C Home Insert Draw Design LG Paste Page 5 of 5 821 words Layout A^ A Times New... 12 BIU ab x x A References Mailings Aav Po E- V A A X English (United States) View # V Blue Choice Gold PPO 002 BlueCross. BlueShield. Blue Cross Blue Shield of Texas PPO Review WE Unit 7 Project - Saved to my Mac Acrobat Tell me AaBbCcDdEe Normal Deductible Coinsurance Out of Pocket Maximum More Details Find a Provider Deductibles and Cost Sharing Deductible (Individual) Deductible (Family) Coinsurance Out of Pocket Maximum (Individual) Out of Pocket Maximum (Family) Services Primary Care Visit Specialist Visit In Patient Hospital Services Emergency Room Services Mental / Behavioral Health Imaging (CT/PET Scans, MRIS) Rehabilitative Speech Therapy Rehabilitative Occupational & Physical Therapy Preventative Care Laboratory Outpatient and Professional Services X-ray and Diagnostic Imaging Prescription Drugs Generic Rx Preferred Brand Rx Non Preferred Brand Rx Specialty Drugs Accessibility: Investigate In Network $1,500 $4,500 20% $3,500 $10,500 In Network $10 $60 $200 Copay per Stay and 20% Coinsurance $400 Copay and 20% Coinsurance a $10 copay 20% coinsurance 20% coinsurance 20% coinsurance $0 20% coinsurance 20% coinsurance In Network No Charge $35 $75 $150 $1,500 20% $3,500 AaBbCcDdEe No Spacing AaBbCcD Heading 1 Monthly Cost $333.69 Premium: $333.69 Subsidy: $0.00 Out of Network $3,000 $9,000 40% $7,000 $21,000 Out of Network 40% coinsurance 40% coinsurance 40% coinsurance 20% coinsurance after $400 copay/visit 40% coinsurance 40% coinsurance 40% coinsurance 40% coinsurance 40% coinsurance 40% coinsurance 40% coinsurance Out of Network AaBbCcDdE Heading 2 > Styles. Pane Focus E Dictate Editor REE Share Create and Share Adobe PDF Comments XAN Request Signatures + SU 113%