The Health Care Plan under Kansas Department of Health and Environment provide with four different insurance. There are two major categories. Plan A and Plan C. Plan C is Health Savings Account (HSA) or Health Reimbursement Account (HRA) with high deductibles.
The HealthCare Plan that the employee will purchase for it will be of Plan A BCBS with the monthly cost of $70.02 which include the cost of dental and basic vision. This plan is better than others because it possess normal risk and has an average deductible and coinsurance. As an employee I will be making $42000 per year and spending around $840.24 as a health expense. Being in my late 20’s I expect to have more visits to hospital than in the past years of my life. Under the influence of our assumption we predict our consumer behavior of moderate visits to physicians and are willing to spend less on health insurance.
As a mother of two children and a husband, I would prefer to enroll for Plan A under Non Network Provider with BCBS because it gives maximum coverage to the family at a reasonable price. The Plan C has high deductible which will be costly for the family due to which we decide to purchase Plan A with BCBS because one of our child chronic problem. We assume that our child needs extensive care and we might be making more trips to the hospital than those of an average family. This assumption states that the risk is higher of spending more on hospital, so to mitigate the risk we will buy an expensive insurance to lesser our out of pocket spending. The monthly expense would be around $424.72 which includes dental and basic vision cost. As an employee of the State the yearly income is $42000 among which the yearly spending on health insurance will account approximately $5096.64 leaving behind $36903.63 for the basic