Does anyone include evaluating health insurance plans for high school health?

[Pegasus]

I would like to make the required health half-credit as practical as possible. I'm planning on including Red Cross first aid and CPR classes and would like to cover the evaluation of health care insurance plans as well (HMO, PPO, HDHP, HSA, FSA, etc.).

 

Has anyone found any good resources for this?

 

Thanks,

Pegasus

[Hwin]

I think the best place for that information would be a broker- they usually represent a number of insurance companies, and differently sized employers (which might have different benefit needs.) Maybe they have a FAQ or would even meet with your kids.

[Miss Marple]

My son is actually covering this in his Personal Financial Literacy course. In that course they study about any possible financial decisions one will make in ones lifetime. So far in the course he has covered basic budgeting, balancing checkbook, making long term financial plans, wills, insurance (life, auto, health, etc.), loans, financial goals, financing homes, autos, etc.

 

It has been a great course, IMO, because it deals with things he will need to know about in his life. I'm very pleased with it. If you wanted to add the insurance information to a health course, you could probably find a lot of links to general articles online. Many of the projects my son has had to do involved internet research although he also has a textbook.

[AnitaMcC]

I would like to make the required health half-credit as practical as possible. I'm planning on including Red Cross first aid and CPR classes and would like to cover the evaluation of health care insurance plans as well (HMO, PPO, HDHP, HSA, FSA, etc.).

 

Has anyone found any good resources for this?

 

Thanks,

Pegasus

 

Various insurances is in my teens Consumer Education/Economics text they will be using.

[Teresa Hope]

What is the course you are using, could I ask? Sounds very comprehensive.

[QueenCat]

We didn't but I think it's a great idea.

[Murphy101]

Discussing what types of insurance there are, life, home, auto, health,...? Yes.

 

Evaluating a health insurance policy?

 

No.

 

Because frankly most people don't ever get that option anyways.

 

You either take what your employer offers or you don't.

 

You either can afford to buy private health insurance, or you can't. And most who can have to just buy whatever they can afford.

 

And usually the information given to evaluate is very basic. Cost out of paycheck, in/out of network copays/deductible, and brief description of whatnis covered (maternity, hospital, mental, disability, rx).

[Joan in GE]

We're just discussing health insurance now - I'm glad this thread is started.

 

While I agree that one might not have a choice, what if two jobs are offered of similar value and the difference is the health insurance? A basic idea would not hurt.

 

When health insurance is being discussed and voted on, it is important to have a basic grasp of the differences, otherwise we are at the mercy of others' analysis of the facts and possible misrepresentations.

 

One of the drug companies here in Switzerland said they were going to lose a billion dollars with Obama's plan, which means they were making a lot of money off the system the way it was. Theoretically, the less we have to pay the drug manufacturer, the less the premiums should be. Considering that health care takes up such a huge percent of the GNP, a part of which could be spent on other things beside enriching a drug manufacturer, I think the more informed we are about what is going on out there, the better.

 

Also, don't independent businessmen need to make a choice? A gentle introduction now could make it easier later.

 

If you really don't have time to do it, it is not as essential as some other topics, and that's another matter; I just don't think it should automatically be written off.

 

my 2 cents,:001_smile:

Joan

[Pegasus]

Thanks, everyone, for the great ideas. Our umbrella school wants to see a 1/2 credit for personal finance as well, so it makes since that insurance could be covered there.

 

Discussing what types of insurance there are, life, home, auto, health,...? Yes.

 

Evaluating a health insurance policy?

 

No.

 

Because frankly most people don't ever get that option anyways.

 

You either take what your employer offers or you don't.

 

You either can afford to buy private health insurance, or you can't. And most who can have to just buy whatever they can afford.

 

And usually the information given to evaluate is very basic. Cost out of paycheck, in/out of network copays/deductible, and brief description of whatnis covered (maternity, hospital, mental, disability, rx).

 

Maybe my experience is not typical but I've worked for two major employers (one private engineering company and one public university) and both had several different health insurance options. I spend several hours evaluating my options whenever the programs have major changes and at least a few hours during open enrollment even when nothing major has changed just to be sure that I'm in the best plan for us. Where I currently work, we can choose between several HMOs, a standard PPO, or a high deductible PPO plan that includes a health savings account. Premiums, deductibles, and covered services vary between the plans (sometimes widely).

 

I KNOW that a significant portion of my co-workers don't do this thorough of an evaluation because when I try to talk to them about the details of the plan I ultimately chose, they start asking questions, not realizing what options were available to them.

 

It's true that the employer usually just distributes a broad overview of the plan but the details are usually available to those who ask (or dig deep enough online). Even if I had only one plan open to me, I'd want to be informed on the fine details that would impact my family's care.

 

Pegasus

[AnitaMcC]

What is the course you are using, could I ask? Sounds very comprehensive.

 

 

Teresa are you asking me?

 

For health we used: Lifetime Health, Friedman et al., Holt, 2004, ISBN 0030646146

 

For consumer education/economics: Glencoe Consumer Education & Economics, 2008, ISBN 9780078767807

[AnitaMcC]

Discussing what types of insurance there are, life, home, auto, health,...? Yes.

 

Evaluating a health insurance policy?

 

No.

 

Because frankly most people don't ever get that option anyways.

 

You either take what your employer offers or you don't.

 

You either can afford to buy private health insurance, or you can't. And most who can have to just buy whatever they can afford.

 

And usually the information given to evaluate is very basic. Cost out of paycheck, in/out of network copays/deductible, and brief description of whatnis covered (maternity, hospital, mental, disability, rx).

 

I disagree.

 

I think it is very important for all consumers to understand what insurance options are.

 

If they end up being someone who has the ability to pick an insurance plan that a company goes with... well, they need to know how to evaluate plans. When my Dh owned his own business and he had about 12 employees, he wanted to at least offer insurance to his employees. He had to evaluated the plans and choose what he thought would benefit his employees. He had to consider what would be cost effective for himself (since he was paying half the premiums) and what his employees would be able to afford while also giving decent benefits.

 

Also, in the government employ, there are many insurance plans to choose from. I always have about a dozen plans to choose from. I am guessing in private sector, some larger companies offer a few choices. When I was employed as a full time teacher assistant in our school district, I was offered several insurance plans to choose from.

[Miss Marple]

This is an online course offered through The University of Oklahoma Online High School. Here's a little blurb taken from the website about it as well as the text being used. I'm sad to say that the program was cut due to budget constraints and OU will no longer offer online High school courses. This one has been so valuable that I intend to do it myself with my youngest son next year.

 

PURPOSE OF THE COURSE:

Welcome to FCS 507 – Personal Financial Literacy! This is an elective course within the OU High School program that is specifically designed to address Oklahoma State PASS Standards for personal financial literacy. The purpose of this course is to help the student become financially literate by introducing financial concepts and allowing for hands on practice of financial activities.

 

COURSE DESCRIPTION:

Building financial literacy is a life long process. This course is a beginning step in the effort to promote life-long financial literacy. It focuses on the basic concepts and issues surrounding money and finances. In thirteen lessons spanning the entire “Personal Financial Literacy†textbook, students will learn the terminology of finances, and the benefits and risks surrounding financial decisions. Topics covered in this course include: Income, Taxes, Insurance, Saving & Investing, Credit, Charitable Giving, Gambling, and more.

 

REQUIRED TEXT(S) & MATERIALS:

Ryan, J.S. (2008). Personal Financial Literacy Mason, OH: Thomson South-Western.

 

COURSE GOALS & OBJECTIVES:

The goal of personal financial literacy is to help students develop skills to respond effectively to the ever changing personal and economic circumstances they will encounter throughout their lives, and ultimately help them become financially literate adults. Effective money management requires discipline; the earlier students are educated about financial matters, the better prepared they will be as they grow older. Ultimately, financially literate students should know how to:

 

Find, evaluate, and apply financial information. Set financial goals and plan to achieve them. Develop income-earning potential and the ability to save. Use financial services effectively. Build and protect wealth.

[Janice H]

may be able to get better rates on their own versus through the employer. It pays to check.

 

 

This site http://www.health--savings--accounts.com/ is an insurance broker which I have no financial relationship with, other than that I purchased my own HSA plan through them.

 

Be aware that some private employers offer an HSA plan too.

[Hwin]

A benefit of understanding how insurance plans work is that you can make sense of your EOBs and recognize if the insurance or provider is making an error. What if you are charged a coinsurance for your x-ray that was supposed be free because it was in-network? What if your annual is supposed to be free but you are charged a specialist copay?

 

Also, if you have several choices (my employer gives several) it pays to know whether you will save money with a high-deductible plan or if you're going to need a high premium with lower copays (if you see the doctor a lot.) If you use prescriptions you'll want to understand drug formularies and be able to compare those.

 

This site http://www.health--savings--accounts.com/ is an insurance broker which I have no financial relationship with, other than that I purchased my own HSA plan through them.

 

Be aware that some private employers offer an HSA plan too.

 

In my experience, MOST employers offer flex spending - employees are just afraid to try it because they might lose money. I think it is great to be educated about it. We use our HSA toward dental, vision, and the occasional office visit copay.

[Murphy101]

A benefit of understanding how insurance plans work is that you can make sense of your EOBs and recognize if the insurance or provider is making an error. What if you are charged a coinsurance for your x-ray that was supposed be free because it was in-network? What if your annual is supposed to be free but you are charged a specialist copay?

 

Also, if you have several choices (my employer gives several) it pays to know whether you will save money with a high-deductible plan or if you're going to need a high premium with lower copays (if you see the doctor a lot.) If you use prescriptions you'll want to understand drug formularies and be able to compare those.

 

This is helpful for a specific plan. I'm not sure how that would apply to a study about health insurance plans tho. It seems to me like a general check list of considerations and need to know information is what we are really talking about. I'm all for that, tho I think comparing plans (if one has that option) is just common sense and these are straight forward basic information one should have. Dh informs me common sense is not that common and he sees many people who don't have a clue and just go with whatever is cheapest per paycheck.

[Hwin]

This is helpful for a specific plan. I'm not sure how that would apply to a study about health insurance plans tho. It seems to me like a general check list of considerations and need to know information is what we are really talking about. I'm all for that, tho I think comparing plans (if one has that option) is just common sense and these are straight forward basic information one should have. Dh informs me common sense is not that common and he sees many people who don't have a clue and just go with whatever is cheapest per paycheck.

 

Yes, I agree with the bolded - to me, that would mean learning some insurance vocabulary and getting an idea how that might translate to dollars and cents.

 

Your husband is right about common sense. I work for an insurance company and ought to be good at choosing plans, but I'm pretty sure I pick the wrong plan every year. :tongue_smilie: