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Hrm/531 Week 3

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Part A: Health insurance is not a decision you want to make lightly. First you need to make a list of any health issues you have. Second you need to look at your budget. The hardest part is melding the two together. Once you have a list of your health issues, next you need to estimate what you have spent in the previous years and consider the increase in medical expenses, if you had health insurance and what it covered. Where you happy with the type of insurance you had at that time? Does your employer offer insurance? More than 1? What are their costs? A large portion of companies have at least two, a PPO and a HMO. The PPO you will pay more per visit and with the HMO you will pay more monthly. So, if you have few health issues and rarely go to the doctor or hospital you should really consider the PPO. Although, if you have some health issues that require some visits and tests you might want to consider the HMO. If the company you work for doesn’t offer insurance then you will need to look at private insurance. The cost will be much greater but you will have many different types to choose from. You still have the PPO and HMO but also the Indemnity plans where you can pick a doctor or a specialist. With any type you are considering some of the things to put into the …show more content…
If you choose to invest everything you have in only one stock and it fails, it could cost you more than just your savings. If you have used all your liquid cash and not put anything in a savings or a money market will affect your financial planning. You will need to build up your assets again. If unplanned expenses come up before you have had time to build up your liquid assets again, you may have to finance that expense so you could be in a negative cash flow situation. In other words, your liquidity management would be non-existent. You will need to plan to build your wealth back up and find some help to make investments in the

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