Personal Finance #8-Insurance-Medical & Disability
What you'll learn
- Define health insurance
- Define and describe group health insurance
- Describe the Affordable Care Act (ACA) as it relates to health care
- Define and discuss private heath insurance
- Define and describe Preferred Provider Organization (PPO)
- Explain what a Point-of Service (POS) plan is
- Define what a High-Deductible Health Plan is and when it may be useful
- Define and explain what coinsurance, copays, and deductibles
- Describe preexisting conditions and how they relate to health insurance
- Explain the Consolidated Omnibus Budget Reconciliation Act (COBRA)
- Describe dental and vision insurance
- Define Long-Term Care (LTC) insurance
- Describe Medicare and Medicate government programs
- Explain Flexible Spending Account (FSA) and Health Savings Account (HSA)
- Describe disability income insurance
This course will cover personal finance decisions related to medical and disability insurance.
We will describe health insurance and compare it to other kinds of insurance, noting areas where health insurance can be more complex.
Learners will understand what group health insurance is and its benefits. We will discuss the Affordable Care Act (ACA) and the legislation's impact on health insurance.
The course will cover private health insurance, health maintenance organizations, preferred provider organizations (PPOs), and point-of-service (POS) plans.
We will also define high deductible health plans and discuss when they may be appropriate.
The course will break down the concepts of coinsurance, copays, deductibles, preexisting conditions, and health insurance costs.
We will consider options for purchasing health care, discuss different insurance companies, and consider the Consolidated Omnibus Budget Reconciliation Act (COBRA).
Learners will also understand dental and vision insurance and how they relate to an overall health insurance risk mitigation and health maintenance strategy.
The course will define long-term care (LTC) and consider its use in an overall health care strategy.
We will discuss Medicare and Medicaid and how these government programs fit into the health insurance landscape as we age.
Learners will also understand how disability insurance works and how to use it as part of an overall personal risk medication strategy.
We will also have practice problems, including downloadable Excel Workbooks, which users may also open using Google Sheets.
The Excel Workbooks will generally have at least two tabs. One tab will have the answer key so learners can deconstruct the problem. The second tab is where we work the practice problem step-by-step along with the instructional videos.
Who this course is for:
- Personal financial planners
Through working with students from many different schools, Mr. Steele has learned best practices for helping people understand accounting fast. Learning new skills and finding the best way to share knowledge with people who can benefit from it is a passion of his.
Mr. Steele has experience working as a practicing Certified Public Accountant (CPA), an accounting and business instructor, and curriculum developer. He has enjoyed putting together quality tools to improve learning and has been teaching, making instructional resources, and building curriculum since 2009. He has been a practicing CPA since 2005. Mr. Steele is a practicing CPA, has a Certified Post-Secondary Instructor (CPI) credential, a Master of Science in taxation from Golden Gate University, a Bachelor’s Degree in Business Economics with an emphasis in accounting from The University of California Santa Barbara, and a Global Management Accounting Designation (CGMA) from The American Institute of CPA (AICPA).
Mr. Steele has also authored five books that can be found on Amazon or in audiobook format on Audible. He has developed bestselling courses in accounting topics including financial accounting and QuickBooks accounting software.
In addition to working as an accountant, teaching, and developing courses Mr. Steele has helped create an accounting website at accountinginstruction, a YouTube channel called Accounting Instruction, Help, and How Too, and has developed supplemental resources including a Facebook Page, Twitter Page, and Podcasts that can be found on I-tunes, Stitcher, or Soundcloud. Mr. Steele's teaching philosophy is to make content applicable, understandable, and accessible.
Adult learners are looking for application when they learn new skills. In other words, learners want to be able to apply skills in the real world to help their lives. Mr. Steele’s formal accounting education, practical work experience, and substantial teaching experience allow him to create a curriculum that combines traditional accounting education with practical knowledge and application. He accomplishes the goals of making accounting useful and applicable by combining theory with real-world software like Excel and QuickBooks.
Many courses teach QuickBooks data entry or Excel functions but are not providing the real value learners want. Real value is a result of learning technical skills like applications, in conjunction with specific goals, like accounting goals, including being able to interpret the performance of a business.
Mr. Steele makes knowledge understandable by breaking down complex concepts into smaller units with specific objectives and using step by step learning processes to understand each unit. Many accounting textbooks cram way too much information into a course, making it impossible to understand any unit fully. By breaking the content down into digestible chunks, we can move forward much faster.
Mr. Steele also makes use of color association in both presentations and Excel worksheets, a learning tool often overlooked in the accounting field, but one that can vastly improve the speed and comprehension of learning accounting concepts.
The material is also made understandable through the application of concepts learned. Courses will typically demonstrate the accounting concepts and then provide an Excel worksheet or practice problems to work through the concepts covered. The practice problems will be accompanied by an instructional video to work through the problem in step by step format. Excel worksheets will be preformatted, usually including an answer tab that shows the completed problem, and a practice tab where learners can complete the problem along with a step by step presentation video.
Mr. Steele makes learning accounting accessible by making use of technology and partnering with teaching platforms that have a vision of spreading knowledge like Udemy.