Place the letter of each type of health insurance option offered on the line next to...

Place the letter of each type of health insurance option offered on the line next to the statement describing it.

a. Traditional

b. HMO

c. PPO

d. HSA

e. MSA

1. I don’t like the new insurance plan because I can only go to doctors and hospitals that are approved by the plan. I have to stop seeing my doctor and start with a new one that I’m assigned to.

2. I have expensive health problems, and my insurance plan requires me to pay 20% of my health-care costs, making it very expensive for me.

3. I like my insurance plan because I’m healthy and pay the full cost, but I don’t use it all every year and it has accumulated in case I need it someday.

4. I have the same insurance deal that you have (#8), but my company only has 25 employees.

5. I do have copays and deductibles, but at least I can go to any doctor or hospital I want to at an extra cost.

Solutions

Expert Solution

1. HMO. A HMO has its own network of approved providers and you can visit just those providers.

2. Traditional - Co-insurance (paying 20% in this case) is a feature of traditional insurance.

3. HSA - Health savings account. The insurance amounts not used are accumulated.

4. MSA - Same concept as HSA limited to employer groups with less than 50 employees.

5. PPO - You can go out of network at an extra cost. Offers much more flexibility than HMOs

keosha answered 1 year ago

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