Group Project 1- Health Insurance (10%)
The intent of this assignment is to give student a clearer understanding of selecting a health insurance plan to provide their healthcare needs, which consists of identifying and assessing various plans and available options to make informed decisions.
I. Finding Health Insurance
Objective: Based on your own internet research, you need to find a low-income health insurance plan among the options available to you as a NYC resident, going to school part time in the evenings.
Note: You MUST provide the links to ALL plans, programs or other websites that you refer to in this part of the assignment in a references section at the reference section of this assignment.
Background Information: A28year’s old, single adult with no dependents, residing in Flatbush, Brooklyn with not major health issues, attending Brooklyn College part time in the evenings. Employed as a stationary clerk by a small business with 5-emplolyees and does not provide benefits (e.g., no vacation time, sick pay, health insurance, no holiday pay). That is being $15 per hour. This individual work as much as possible, every day that the company is open – 5 days a week, 52 weeks a year. Their annual gross income (i.e., income before taxes) is $31,320.00 ($15 an hour x 8-hour day x 261 days a year), which is a weekly gross income of = $600 and your net income after taxes = $425.94.
Note:
• Bills are on a 4-week cycle so every 6-months you receive an extra pay check of = $475.2, totaling = $851.88
• Annual tax refunds totaling approximately $1,600.00, which is used to help pay down your credit cards and help pay your school tuition, books, and other associated school expenses
• The individual is unable to work any extra hours due to their class schedule and time needed to study
Monthly Expenses
On Average Gross Monthly Income (paid bi-monthly) $2400.00
Federal Tax Withholding (rate of 12%) $288
Social Security (6.2%) $148.80
Medicare (1.45%) $34.80
New York State Tax Withholding (5.3%) $127.20
NY SDI (0.9%) $21.60
New York City Tax Withholding (3.16%) $75.84
Net Pay $1,703.76
Monthly Budget
Monthly Net Pay $1,703.76
Rent $1000.00
Utility Bills (Gas/Electric/Water) $142.00
Food $220.00
Transportation (Unlimited Metrocard) $127.00
Cell Phone $62.00
All other monthly expenses (including toiletries like soap, toilet paper, detergent and laundry, hair care, over the counter medications, etc.)
$76.00
Credit Card Bills (based on a carrying a balance of $1200) $50.00
Remaining Disposable Income $26.76
- Based on this single adult income level and the information provided above, what type if any health insurance wills this individual qualify for? Can this individual qualify for any type of government or subsidies to help with health insurance coverage?
- Even if these individuals do not specifically qualify for all of them, in general what are the health insurance options that are available to low-income people in NYC? Describe each program/plan, including whether they are administered by NY State, NY City, or another entity. What are the eligibility criteria?
- What is the best way for this individual to get coverage? Write about the situation this individual will face, including why the plans identified to provide health insurance for this individual may not work. What (if any) are some other options? What would you do if you were really in this situation?
- Write about the process of searching for a plan. Where did the search begin, identify some of the first websites visited, if you started on internet, what search terms did you type in? What were the challenges your group faced in performing this? Approximately, how long did it take to complete this scenario?
- Based on current health status of members of your group, what are the advantages/disadvantages of foregoing the receipt of any healthcare services?