Personal Financial Planning 13th Edition by Lawrence Gitman,Michael Joehnk,Randy Billingsley

Exercise 11

Health care costs have increased dramatically in recent years, and many insurance providers have reduced their coverage, leaving the individual to foot more of the bill. In this project, you'll examine your health insurance needs and determine the coverage that's appropriate for you.
First, make a list of the possible health care needs you're likely to have during the year. Be sure to include the potential accident risks to which you're typically exposed in pursuit of your lifestyle activities. Then, if you currently have health insurance, make a list of the coverage it provides, including deductibles, co-insurance amounts, prescription coverage, policy limits and exclusions, and so forth. Is your coverage adequate in light of your needs Are there ways you can reduce your costs If you don't currently have health insurance, research possible providers. Can you obtain insurance through your university, place of employment, or through an organization to which you belong Do you qualify for insurance that may be provided by your state Consider all of your feasible alternatives, the coverages that would be provided, and the cost of each.