InfoGuides: *Personal Financial Literacy Resource Guide*: Chapter 9: Health and Disability Income Insurance

Chapter 9 Introduction

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 recognizing the importance of health insurance in financial planning and define health insurance. Then we analyze the benefits and limitations of the various types of health insurance coverage. Private and governmental sources of health insurance and health care are presented next, with a complete coverage of health maintenance organizations (HMOs). Then, we discuss the importance of disability insurance in financial planning and identify its resources. Finally, we explore why the costs of health insurance and health care have been increasing and what is being done to curtail them.

LO 9.1: Recognize the importance of health insurance in financial planning

March of Dimes Maternity Care Dashboard
What does maternity care look like in your area? Take a look here.

LO 9.2: Analyze the costs and benefits of various types of health insurance coverage as well as major provisions in health insurance policies

Health Insurance (NC Department of Insurance)
How Health Insurance Works
Brought to you by Blue Cross Blue Shield Insurance Company
What is Cost Sharing?
Co-pays, deductibles and co-insurance.
Brought to you by Blue Cross Blue Shield
US Department of Labor: An Employee's Guide To Health Benefits Under COBRA
Under the Consolidated Omnibus Budget Reconciliation Act (COBRA), many employees and their families who would lose group health coverage because of serious life events can continue it in the employer’s group health plan for a limited time, usually at their own expense. This booklet explains your rights under COBRA to a temporary extension of employer-provided group health coverage, called COBRA continuation coverage.

LO 9.3: Assess the trade-offs of different health insurance plans

Health Claim Denied? (NC Department of Insurance)
Smart NC helps consumers resolve coverage disputes with their health insurance company. There is no cost to consumers for their services.
Workers' Compensation (NC Department of Insurance)
Workers compensation and employers liability is a form of no-fault insurance provided by the employer for the employee. The employee gives up certain rights to sue in exchange for protection from injuries incurred on the job.

LO 9.4: Evaluate the differences among health care plans offered by private companies and by the government (General Info)

healthcare.gov
A federal government website managed and paid for by the U.S. Centers for Medicare & Medicaid Services. 7500 Security Boulevard, Baltimore, MD 21244. Health Insurance Marketplace® is a registered trademark of the Department of Health and Human Services.

LO 9.4: Evaluate the differences among health care plans offered by private companies and by the government (Medicare)

Medicare and Seniors' Health Insurance Information Program (SHIIP - NC Department of Insurance)

8 Things to Know When Choosing a Medicare Plan
The choices can be confusing, and the fine print is important. But it's crucial to choose wisely, because it may be hard to change your mind.
Applying for Medicare (Social Security Administration)
Comprehensive information regarding Medicare
medicare.gov
Health insurance after age 65.
Lots of great resources here.
Reporting Medicare fraud & abuse
From medicare.gov

LO 9.4: Evaluate the differences among health care plans offered by private companies and by the government (Medicaid)

NC Medicaid (administered by the NC Department of Health and Human Services)
NC Medicaid manages the North Carolina Medicaid and NC Health Choice health care programs, pharmacy benefits and behavioral health services.

North Carolina Medicaid is the program that provides health care to eligible low-income adults, children, pregnant women, seniors and people with disabilities. The program is funded by North Carolina and the federal government.
NC Health Choice is our state's name for the Children's Health Insurance Program (CHIP). It provides health care to eligible children in addition to Medicaid. This program is also funded by North Carolina and the federal government.
LME-MCOs are local management entities-managed care organizations that contract with NC Medicaid to provide behavioral health and intellectual/development disability services to Medicaid beneficiaries.

LO 9.5: Explain the importance of disability income insurance in financial planning and identify its sources

Disability Income Insurance (NC Department of Insurance)
Applying for Social Security Disability Benefits
Comprehensive information regarding SS Disability

LO 9.6: Explain why the costs of health insurance and health care have been increasing (Health Care Costs)

Leading Causes of Death in Men in the US
Brought to you by the US Centers for Disease Control and Prevention (2017 Study)
Leading Causes of Death in Women in the US
Brought to you by the US Centers for Disease Control and Prevention (2017 Study)
National Library of Medicine
Research tool covering many publications regarding health.