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20 views

Tutorial9_1

Uploaded by

C Wing.
Copyright
© © All Rights Reserved
Available Formats
Download as PPTX, PDF, TXT or read online on Scribd
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Name:

SID:
Session:
Week 9 Health Insurance
Question 1
Explain whether the following is True or False
A. A comprehensive major medical insurance provides coverage on all
types of medical expenses.
Exclusion: dental expenses, regular medical expenses, outpatient treatments….
Question 1
Explain whether the following is True or False
B. To secure the most comprehensive protection, an insured should
subscript a medical insurance earlier.
Some mental/physical problem may be excluded from a policy under the pre-
existing conditions.
Question 1
Explain whether the following is True or False
C. It is necessary to maintain an emergency fund of 3 to 6 times of the
monthly take home pay even if you have a disability income insurance.
Waiting period
Shorter waiting period vs longer duration of benefits
Question 1
Explain whether the following is True or False
D. The benefit of an individual disability income insurance is fixed.
COLA
Monthly benefit is adjusted upward
according to the inflation rate each year
Question 2
• A medical insurance policy that specifies a $3,500 per illness basis
deductible, an 90% co-insurance clause, internal limits of $500 per day
on hospital room and board, and $8,000 as the maximum payable
surgical fee.
• If John was hospitalized twice this year and incurred the following
spendings.
1st 2nd
Room charge per day 500 (3 days) 800 (4 days)
Surgical expenses 1,000 10,000
Covered charges 800 2,000
Question 2
• How much compensation can he get from the insurance?
• The total expenses for the 1st visit = $500 x 3 + $1,000 + $800 = $3,300 <
deductible
• No compensation.
• The compensation for the 2nd visit
= ($800 x 4 + $10,000 + $2,000 - $3,500) x 90% - $220 x 4 - $1,000
= $8,650

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