Assignment

1. The purpose of deductibles in property insurance policies is to reduce the number of small claims that are costly to adjust and provide claims service. The purpose of deductibles and coinsurance in health insurance is quite different. Discuss the purpose of deductibles and coinsurance in health insurance and the need for insureds to share in those types of costs.

2. A. Describe a person (individual or family) who would likely benefit from establishing a health savings account (HAS)
B. Briefly explain the major characteristics of a health savings account (HSA).

3. A. Explain the following renewal provisions that may appear in individual health insurance policies:
a. Guaranteed renewable:
b. Noncancelable:
c. Conditionally renewable:
d. Nonrenewable:
e. Guaranteed issue:

B. If you were purchasing an individual health insurance policy, which of the above renewal provisions would you prefer? Explain your answer and the conditions that you may be assuming in your answer (for example, budget constraints, etc.).

4. Brad, age 26, recently graduated from college. He had coverage earlier as a dependent under his father's group health insurance policy, which provided coverage for him to age 26. However, he has been unable to find a job because of a soft labor market and high unemployment in the city where he lives. He is concerned that if he should become sick or injured, he will have no health insurance to pay his bills. Using the information that is described in this chapter that relates to the Affordable Care Act, describe two provisions in the Affordable Care Act that will enable Brad to keep his insurance.

5. Read and provide a brief summary of current information on the health insurance problem that currently exists in the U.S. Select an article that includes at least one statistic on the number of people currently uninsured for health insurance in the U.S. Cite your article and provide a paragraph summary.