Tag Archives: reform

A La Carte Education

Posted on by
1
Let me first say this: College was one of the best things that has ever happened to me. I firmly believe that the 4 year journey we take through undergraduate colleges in America is one of the greatest rite of passage journeys that the world has ever known. 

Now, let me say this: There have been many times, since I left college, where I wanted to gain a new skill to start a business or to expand my realm of possibility. Times where I wanted something a little cheaper than a graduate degree, a little more structured than teaching my self, and a lot more flexible than a semester. There are certainly times where going back to college for a another full blown rite of passage just is not a fit.

So what is? Is there a more a-la-carte journey out there? A way to get bursts of learning without a full degree?

A couple sources have inspired my thinking on the topic recently:
1) Khan Academy: Revolutionary. Access to high quality lectures on wide range of topics for anyone with an internet connection. Khan believes in flipping classroom. This means lectures by video at home and homework collaboratively in the classroom. http://www.youtube.com/watch?v=HkMS6Glswig

2) Book: Reality is Broken by Jane Mcgonigal (http://www.amazon.com/Reality-Broken-Games-Better-Change/dp/1594202850). McGonigal Explains the idea of Leveling Up in education. Rather than semesters and grades subjects are given Levels and open time frames.

With Grades. Anything but an “A” means you fell short. A letter grade of “C” means the student only got about half as far as the teacher thought they should in a time frame (semester) that was set by the school.

Leveling up is different. Students progress at their own pace choosing their levels of expertise they want to obtain. Level 1 in chemistry might be “How not to blow yourself up in the kitchen”. Level 3 might be “Ace the AP Chem test”. Level 5 might be “wowzers… you just invented a new kind of compostable plastic”. You wear levels like you wear karate belts. There is no shame in any level. Some students have just journied farther than others.

My answer: A-la-Carte Education. Lab course series taught outside of colleges. Students pay per level and can come and go as they wish and continue from where they left off. Classes are all flipped: reading and lectures at home. Collaboartive problem solving (homework) in a weekly meeting with the teacher and other students.

Choosing a Health Savings Deductible for a Family

Posted on by
2

Once you have decided to go with a high deductible health savings account health insurance plan, the next step is to choose the size of that high deductible. The higher you choose the lower your monthly payment will be.

HSA health plans allow you to open a Health Savings account and save $ tax free to use for medical expenses. So, the less you pay in premiums, the more you will have to save.

So, how high of a deductible should you choose? What is the best balance between coverage and savings?

The answer depends mostly on how much you have budgeted to spend on health insurance each month.

Start with the amount you have to spend on health related expenses each month. For my wife and I its $700.

Next, look at some Health Plans. You will want to look at two things:

  1. How much you can save each month and use toward medical expenses before your deductible kicks in
  2. What happens in a worst case scenario. How much monthly will you have to pay if you are seriously injured and need to pay both your monthly premium, plus the full deductible amount.

 

The spread sheet I used to determine these amounts is here:

https://spreadsheets.google.com/pub?hl=en&hl=en&key=0AipucNLg02ekdGlLOE01Vld6bG5MVFVYNF9HNmlVbGc&output=html

Please copy this spreadsheet and fill in your own numbers

Here are my conclusions… keep in mind I these are for coverage for myself and my wife in Colorado. Numbers for bigger families in other states will vary greatly. But, the process for choosing the right plan will be the same.

  • if my monthly health budget were < $250: There is no health plan that I could afford. I should seek gov’t help
  • $300 monthly health budget: Go with the $10,000 deductible plan. Its all that can be afforded. Some coverage is better than none.
  • $400 monthly health budget: Choice to make here. I can save 18% of my deductible each year on the $10,000 plan. But my worst case monthly cost is $1083. Safer bet is $7000 plan. There I save 4% less towards my deductible each year, but in the worst cast only need to pay $899 per month.
  • $500 monthly health budget: Clear choice here is the $7000 deductible plan. Save the highest percent each year towards deductible 32% and have a lower worst case payment of $899 per month.
  • $600 monthly health budget: Choose the $5000 deductible plan. Over the course of the year you will save the same percent 49% towards your deductible as the $7000 plan, but you will have lower worst case monthly costs of $811
  • $700 monthly health budget: Choose the $5000 deductible plan. Over the course of the year you save the most 73% towards your deductible and have lower worst case monthly costs of $811
  • $800 monthly health budget: Still choose the $5000 plan. Will save 97% towards deductible and have $811 worst case. Savings of going to more expensive $2500 plan is only $9 in worst case $802.
  • $900 and above budget: Still choose the $5000 plan. Will save more towards deductible and have $811 worst case. Savings of going to more expensive $2500 plan is only $9 in worst case $802.

Summary: There are no cases were the lowest deductible plan makes sense. There is also only one case where the highest deductible plan make sense; (when its your only option for health insurance). All other cases its best to choose between the two middle plans. The best choice there depends on how much risk you want to take on.

Curious to see if you all find the same conclusions.