Unit B Personal Law

1. Essential Standard 4.00 Understand financial, credit, and insurance law Health Insurance 4.02 C Unit BPersonal Law BB30 Business Law 4.02 Summer 2013

2. Health Insurance • Traditional Health Insurance (Major Medical Coverage) • 1. What type of coverage does Major Medical Coverage offer? • 2. What is the main reason for those who elect this type of coverage? • 3. What is a characteristic of major medical coverage? • Annual Deductible • 1. What is an annual deductible? • 2. How does this work? • Major Exclusions for Coverage • 1. For heath care policies, what do major exclusions include? • 2. Why do health care insurance providers have these exclusions? • Possible lengthy waiting periods • 1. What is a “waiting period” in a health insurance policy? • Group Insurance Coverage • 1. What is group health insurance coverage? • 2. Why is group health insurance usually better for an employee? BB30 Business Law 4.02 Summer 2013

3. Managed Health Care • 1) HMO • 1. What does HMO stand for? • 2. Do HMO’s allow you to pick your primary care physician? • 3. How is the majority of your health care provided when you have an HMO as your health insurance? • 2) PPO • 1. What is a PPO health insurance company? • 2. What are the requirements for their policy holders? • 3. Can you go to any doctor that you desire? • 3)HMO-(POS) • 1. What is HMO (POS) type health care insurance? • 2. What are the benefits (if any) of this type of policy? • Individual Insurance Coverage • 1. What is individual insurance coverage? • 2. What is the primary negative to this type of health insurance? • 3. Do people that have health insurance primarily have individual or group health insurance? BB30 Business Law 4.02 Summer 2013

4. Supplemental Health Insurance Coverage • a. Cancer Insurance Coverage • 1. What is cancer insurance? • 2. What is the purpose of cancer insurance? • 3. Does cancer insurance cover other illnesses? • b. Dental Insurance Coverage • 1. Is dental insurance a group or individual policy? • 2. Does dental insurance have restrictions on most policies? • 3. Why are there restrictions? • 4. What type of coverage do dental insurance policies generally • provide • c. Long Term Medical Coverage • 1. What does long term medical coverage provide? • 2. Why might this be a good insurance policy to purchase if you are • in poor health? BB30 Business Law 4.02 Summer 2013

5. Health Insurance (Continued) • e. Vision Insurance Coverage • 1. What type of coverage and items does vision insurance normally provide? • 2. Can you select your own optometrists/ophthalmologist? • Government Insurance Coverage • Medicare • 1. What is Medicare? • 2. Who provides Medicare? • 3. Who is eligible for coverage? • 4. What is a special consideration for coverage under age? • Medicaid • 1. What is Medicaid? • 2. Who provides Medicaid coverage? • 3. Who is eligible for coverage? • 4. Do state governments or the Federal government determine eligibility? BB30 Business Law 4.02 Summer 2013

6. Medigap Insurance • 1. What is Medigap Insurance? • 2. Who needs this type coverage? • 3. Does the government (state or Federal) provide this coverage? • Disability Insurance Coverage • 1. What is disability insurance? • 2. Who pays for or provides this type insurance to an employee? BB30 Business Law 4.02 Summer 2013