Health Insurance Basics
What is a deductible?
The amount you pay out of pocket before your insurance starts to pay
How are individuals and family plans made?
Purchased through the marketplace or private insurers; may qualify for subsidies
Health insurance costs an average $____ per month in the state of Wisconsin.
$456
What is health insurance
Where the insurance company will help you pay for healthcare services
Example of short term plan
COBRA
Which word of choice?
This adds up to $5472 per year, but could likely save you much More or Less than that.
More
Why do you need it?
If you have a surprise visit to the hospital and it has a large cost; most likely you won’t have enough money so the insurance will pay the majority of the price
What is employer - sponsored service?
Covered by employers and includes coverage for medical, dental, and vision care
It full cancer treatment costs an average of $150,000. If your deductible was $1500, health insurance would save you $_____
$148,500
Who needs it?
Everyone will need it in their life at some point
What is medicare?
Government program that covers for ages 65+
Would you save more or less if you use health insurance?
more
True or False:
It covers doctors visits, prescription drugs, and medical + surgical services
True
What is medicaid?
Government program that covers low income individuals/families
Why is it important to use health insurance if your someone who gets hurt a lot
because these different visits and care can cost A LOT of money.