BUSN380 Week 6 TCO 4 Chap 11 - Property & Motor Vehicle, Health, Disability & Long-Term Care
Planning a health insurance program needs careful study because the protection should be shaped to the needs of the individual or the family. However, the task is simplified for many families because a foundation for their coverage is already provided by group health insurance at work. We begin the chapter by explaining why the costs of health insurance and health care have been increasing. Then we define health insurance and disability income insurance and explain their importance in financial planning. Next we analyze the benefits and limitations of the various types of health insurance coverage. Private sources of health insurance and health care are presented next, with a complete coverage of health maintenance organizations (HMOs). Then we discuss the sources of government health programs, such as Medicare and Medicaid. Finally, we explore the sources of disability income and offer suggestions on how to calculate disability income insurance requirements.
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