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Smart Choice Health Insurance©
Reducing Confusion, Increasing Confidence and Know-How
Today’s Goals Understand why health insurance
helps prevent large unexpected health care expenses
Learn what to compare to understand cost and coverage
Consider some information needed to make a Smart Choice
My SMART CHOICE
Key Questions I Need to Answer
Why? • Why do I need health insurance? • Why is it important?
What? • What do I need and want? • What are my choices?
How? • How much can I afford? • How much will it cost?
My SMART CHOICE
Why? • Why do I need health
insurance? • Why is health
insurance important?
Why Do I Need Health Insurance?
Provides peace of mind
Protects your family’s financial future
Health and wellness services and programs
Better health outcomes
The Cost of a Broken Arm
Follow-up (out-patient) with Specialist Hard Cast: $500 2 visits: $200
Diagnostic/X-rays: $1027.70
Hospital Costs Pharmacy & Drug:
$2396.96 Hospital Supplies:
$2097.70 Emergency Room
$3036.60
Total Cost without Insurance $9,351.96
My SMART CHOICE
What?
• What information do I need to get or find out?
• What do I need to compare or consider?
SMART CHOICE Consumer Workbook
My Health Insurance Needs Worksheet
My Health Insurance Plan Comparison Worksheet
Estimating Monthly Health Care Costs
For our “Out-of-Pocket Health Costs” fact sheet, go to: http://extension.umd.edu/insure/consumer-resources
My Monthly Spending Plan
Reliable Resources from the Internet
University of Maryland (Health Insurance Literacy Initiative): http://www.extension.umd.edu/insure/
Ask an Expert: https://www.extension.umd.edu/insure/health-insurance-literacy-ask-expert
Healthcare.gov: https://www.healthcare.gov/ Consumers Union:
http://consumersunion.org/pub/pdf/healthcare2012.pdf IRS:
http://www.irs.gov/publications/p969/ar02.html#en_US_2013_publink1000204025
Smart Choice & Smart Use Health Insurance©
Acknowledgements This pilot project was developed with funding from
the University of Maryland Extension; College of Agriculture & Natural Resources
Program Development Team University of Maryland Extension:
Bonnie Braun, Virginia Brown, Lynn Little, Teresa McCoy, Mia Baytop Russell
University of Maryland Residential Facilities: Christine Garcia
University of Delaware Extension: Maria Pippidis
