Assignment
Choose a Medical Insurance Policy Suppose ten years in the future you are married and have two young children. You are a successful computer consultant and earn a good income. Your spouse stays home to care for the children. Because you are self-employed, you must purchase your own medical insurance. You have narrowed your choice down to the two policies described below. Evaluate each policy and choose the one that you believe would be best for your family. Explain your choice.
Policy A
This is a traditional medical insurance policy that allows you to choose your own doctor, hospital, or other medical provider. It has a $200 deductible for each member of your family. It does not pay for regular physicals. It does pay for prescription medicines, but you must pay the first $10 for each prescription you have filled. The maximum it will pay for any insured person is $2 million over that person's life span. This policy would cost you $18,000 per year for the family's coverage.
Policy B
This is a health maintenance organization (HMO) policy that requires you to choose doctors, hospitals, and other medical providers that belong to its system. If you want to see a doctor who is not a member of the system, you must pay for the care yourself. When you receive treatment for an injury or illness, you must pay the first $100 for each insured person each year. After that, the insurance will pay 100 percent of the cost. This policy does cover the cost of regular physicals and pays for prescription drugs after you pay the first $20 for each prescription you have filled. The maximum it will pay for any insured person is $1 million over that person's life span. This policy would cost you $10,500 per year for the family's coverage.
The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.