tailieunhanh - Ebook Personal financial planning (11th edition): Part 2

(BQ) Part 2 book "Personal financial planning" has contents: Insuring your health, protecting your property, investment planning, investing in stocks and bond, investing in mutual funds and real estate, planning for retirement, preserving your estate. | Insuring Your Health CHAPTER 9 L E A R N I N G LG1 LG2 LG3 LG4 LG5 LG6 LG1 G O A L S Discuss why having adequate health insurance is important and identify the factors contributing to the growing cost of health insurance. p. 272 Differentiate among the major types of health insurance plans and identify major private and public health insurance providers and their programs. p. 274 Analyze your own health insurance needs and explain how to shop for appropriate coverage. p. 278 Explain the basic types of medical expenses covered and policy provisions of health insurance plans. p. 282 Assess the need for and features of long-term care insurance. p. 289 Discuss the features of disability income insurance and how to determine your need for it. p. 293 THE IMPORTANCE OF HEALTH INSURANCE COVERAGE The next best thing to good health is probably a good health insurance plan. In recent years, the price of medical treatment has risen dramatically. As a result, a serious illness or accident can involve not only physical pain from sickness and injury but also economic pain. A major illness can easily cost tens of thousands of dollars once you consider hospitalization and medical expenses as well as the loss of income while you recover. Even routine medical care such as doctors’ office visits and healthcare screenings can quickly add up. Health insurance helps you pay for the costs associated with both routine and major medical care so that your financial accomplishments and plans are not seriously damaged or even destroyed. Despite the financial importance of health insurance, however, many Americans remain underinsured or uninsured. According to the . Census Bureau, nearly 16 percent of the population—over 46 million people—don’t have health insurance. Young adults between 18 and 24 are even less likely to have health insurance: slightly more than 31 percent of individuals in that age group are covered by health insurance. Why are so many uninsured? As .