Health Insurance

RECENT NEWS
The Economic Times  54 min ago  Comment 
The Chennai based standalone health insurance company had hired MAPE Advisory Group to find a buyer for small stake.
Forbes  Aug 29  Comment 
When big health insurers propose mergers, it makes for good antitrust enforcement theater to try to block them. However, if government officials want to address anti-competitive activities that have a dramatically bigger impact, they should shift...
Wall Street Journal  Aug 28  Comment 
Nearly a third of U.S. counties look likely to have just a single insurer offering health plans on the ACA’s exchanges next year, according to a new analysis, an industry pullback that adds to the challenges facing the law.
Wall Street Journal  Aug 21  Comment 
Some small companies that dropped group health insurance are reversing course, driven by a tightening labor market and rising costs and fewer choices for individual coverage.
NPR  Aug 19  Comment 
The lower the household income, the less likely it is for children to receive needed eye exams. The income effect was independent of insurance status, a study found.
MarketWatch  Aug 19  Comment 
Health insurers have an incentive to enrich shareholders and deny coverage to customers, says Brett Arends.
newratings.com  Aug 17  Comment 
WHITEHOUSE STATION (dpa-AFX) - Lux Research, an independent research and advisory firm, announced that Mike Coyne will join the company as President and CEO. Mike succeeds Dennis Philbin. Mike was the founding CEO of Verisk Health, a...
New York Times  Aug 17  Comment 
But Congress should strengthen health insurance marketplaces to ensure sufficient competition.
MedPage Today  Aug 16  Comment 
(MedPage Today) -- Also: costs of health insurance, assigning sex, fetal pain and more
Insurance Journal  Aug 16  Comment 
U.S. Sen. Dick Durbin is taking the rare step of weighing in on the state’s handling of a hefty health insurance rate increase request, asking Illinois regulators to press the state’s leading insurer of families and small businesses to reduce …




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Types of Coverage

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Private Coverage

Job-Based Coverage

Individual Policies

Association Health Plans

Consumer Driven Health Plans

Government-Funded Coverage

Medicare

Medicare is a federal health insurance program for: a) individuals aged 65 years and above; b) individuals under the age of 65 with certain disabilities; or c) or individuals with end-stage renal disease. There are three types of Medicare plans:

  • Original Medicare Plan, which consists of two parts:
    • Hospital Insurance (Part A): This part pays for inpatient care at public hospitals, critical access hospitals (small facilities that give limited inpatient and outpatient services to people in rural areas), skilled nursing facilities (not custodial or long-term care) as well as hospice care and some home health care. All individuals eligible for Medicare are enrolled automatically and free of charge in Part A.
    • Medical Insurance (Part B): This part pays for doctor visits, outpatient hospital care and other necessary medical services not covered by Part A, such as physical and occupational therapy, and some home health care. Part B is optional and, in 2008, most beneficiaries paid monthly insurance premiums of $96.40. Beneficiaries must also pay an annual deductible before Part B coverage kicks in.
2008 Part B Monthly Insurance Premiums Yearly Income (Single Individual) Yearly Income (Married Couple) Yearly Income (Married Individual)
$96.40$82,000 or less$164,000 or less$82,000 or less
$122.20$82,001 - $102,000$164,001 - $204,000NA
$160.90 $102,001 - $153,000$204,001 - $306,000NA
$199.70$153,001 - $205,000$306,001 - $410,000$82,001 - $123,000
$238.40above $205,000above $410,000above $123,000
  • Medicare Advantage Plans (Part C), formerly known as Medicare+Choice, are private health insurance plans under the Medicare program. These plans pay for more medical services than the Original Medicare Plan by packaging Part A, Part B and additional coverage into one convenient bundle. Part C is optional and beneficiaries often pay higher monthly insurances premiums, but lower deductibles, than those required for Part B. Medicare Advantage is only offered in certain parts of the country and includes HMO Plans, PPO Plans, Medicare Private FFS Plans, Medicare MSA Plans or Medicare Special Needs Plans.
  • Medicare Prescription Drug Plans (Part D) add prescription drug coverage to the Original Medicare Plan, Medicare MSA Plans, some Medicare Cost Plans and some Medicare Private FFS Plans. Each plan is run by a private company and, hence, varies slightly from other plans that fall under Part D. However, all such plans conform to standards set by the federal goverment. Part D is optional and beneficiaries pay monthly insurance premiums and an annual deductible in exchange for a large degree of flexibility in choosing what drugs need to be covered by these plans.

Medicaid

State High Risk Pools

Trends

Number Uninsured and Uninsured Rate (1987-2007)

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Difference in 2-Year-Average Uninsured Rates by State (2006-2007)

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