Medical Coverages

MEDICAL COVERAGES

Joshua Reynolds

Everest University

There are several different types of medical expense coverage’s. It would depend of the type of medical plan that you have such as a HMO or a PPO. There are several different reasons to have a medical expense plan. An expense plan can be a huge thing if you have to have some surgery done or have to have a hospital stay because you have the money already in there and most of the time it’s not taxed so you get everything that you put in there. Long-term care insurance is a must have because you never know what may happen in life and this plan covers you for the future if you become ill for a long time because it will pay you a certain amount of your salary. Disability income is a great thing to have because you can never know what might happen in the future. Having this plan will allow you to know that if anything was to happen you will still have income. I think I should have Health, dental and vision, plus long-term and disability. I know that things happen in life and that I may never know what may come my way but I want to make sure that I am covered and I know if I were to get sick I wouldn’t have to cover all the expenses myself.

References:

Gitman, L.J., Joehnk, M.D., & Billingsley, R.S. (2014). PFIN3 (3rd ed.). Mason, OH: South-Western, Cengage Learning.