Welcome to Ameritrade Plus University
  Health insurance
  Introduction
 
Top 10 things
 
The details:
 

The basic flavors
 

Which plan is right for you?
 

Money-saving strategies
 

Your legal rights
 
Glossary
 
Take the test

 
Lessons:
1
  Setting priorities
2
  Making a budget
3
  Basics of banking
4
  Basics of investing
5
  Investing in stocks
6
  Investing in bonds
7
  Buying a home
8
  Investing in mutual funds
9
  Controlling debt
10
  Employee stock options
11
  Saving for college
12
  Kids and money
13
  Planning for retirement
14
  Investing in IPOs
15
  Asset allocation
16
  Hiring financial help
17
  Health insurance
18
  Buying a car
19
  Taxes
20
  Home insurance
21
  Life insurance
22
  Futures and options
23
  Family law
24
  Estate planning
25
  Auto insurance

|> About Money 101

investing 101

  Top 10 things to know
Here is an overview of the most important points of this lesson. For more discussion, click any section of "The details" at the upper right (calculators are marked with a ). Or, click "Take the test" to jump directly to the quiz.

1. Insurance costs a lot but having none costs more.
There are sensible ways to save money on insurance, but skipping coverage isn't one of them. Medical bills from even a minor car accident can deplete your savings -- a major illness can push you into bankruptcy.

2. If your employer offers insurance, grab it.
Group coverage, particularly when it's employer-subsidized, is almost always a better deal than anything you can get on your own, even if you're young and healthy. If you're NOT young and healthy, it's definitely a better deal.

3. Comparing plans is tough but necessary.
Unfortunately, there is no such thing as standard coverage. Benefits and costs vary widely from plan to plan. If you have choices, you'll have to examine each one closely to find the best deal.

4. The lowest premium isn't always the cheapest plan.
What your insurance covers is just as important as, and sometimes more important than, what you pay up front. Ultimately, the cheapest plan is the one with the best price for the benefits you're most likely to use.

5. Even good coverage can have big loopholes.
You can count on your health insurance to cover you for a hospital stay. Most policies cover doctor visits, but benefits for mental health, prescription drugs and dental care are strictly optional.

6. You'll pay more for freedom.
Plans with the most comprehensive coverage at the lowest out-of-pocket cost require you to use a specified network of hospitals, doctors, labs and other providers. The more flexibility you demand, the more you'll pay, in either premiums or co-payments.

7. You can check out networks before signing up.
A growing number of public and private sources compile information on the track records of individual doctors, hospitals and health plans.

8. You can keep your insurance if you lose your job.
State and federal regulations protect you from losing your health coverage just because you lose your job. Unfortunately, they offer little protection from high premium costs.

9. Working couples have more to think about.
If you and your spouse both get health insurance at work, you must sort out whether it makes more sense to have two policies or for one of you to cover the other. If you have kids, you need to decide who's going to cover them.

10. Tax breaks can help.
Ordinarily medical expenses, including insurance premiums, are not tax deductible until they exceed 7.5% of your income. However, if you're self-employed or your employer offers a flexible spending account, you can get a tax break without meeting the threshold.

The basic flavors

 
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