Personal Health Insurance Analysis

Personal Health Insurance Analysis (PHIA) Rubric

Scenario:

Your employer (or spouse/parent’s employer) has decided to stop offering an employer sponsored health insurance options to employees or their dependents – effective May 31. COBRA will NOT be an option, because no employer plan exists any longer. Each of you, instead will be given a $500/month stipend towards the purchase of your own health coverage (for yourselves and your dependents). Please address the following items concretely, as if this were actually happening to you.

Questions to Address:

1. Describe the health insurance you currently have, including coverage (deductibles, out of pocket, copays) and cost.  Compare these to the Kaiser 2021 Benefit Trends Report.

2. What available options/strategies do you have to find alternate coverage for yourself/your family? (please discuss a minimum of 3 alternate strategies – 1 must be the ACA Marketplace/Healthcare.Gov)

3. What are the important considerations you must address as you tackle this transition and decide between options?

4. Compare and contrast the benefits of the health insurance coverage options you have identified. (Note: one option must be obtained using healthcare.gov) – Please discuss in the narrative as well as create a table to showcase the options and important factors you have considered.  Table should include premium, deductibles, out of pocket etc. comparing your current situation to the new options – including evidence that you’ve taken the stipend into account.

5. Will the $500 monthly stipend put you in a more or less positive financial position (with regards to overall expenses – premium and potential out of pocket) than your current health insurance coverage provides?

6. Come to a recommendation including rationale about your final choice of plan to enroll.

7. Please discuss final reflections or key takeaways on this experience.

Key Points:

•   Due by end of week 6
•   20% of your Final Grade – 200 points
•   Minimum 5 pages (double-spaced)
•   Include at least 1 table you create (see Data Visualization document for tips)
•   Please use APA format, Cover Sheet, In-text Citations and a Works Cited page (not counted in 5 pgs)
•   You should have a minimum of 5 outside sources to support this work