Health Insurance

RECENT NEWS
MarketWatch  Feb 22  Comment 
But critical policy for health insurers is still in early stages.
NPR  Feb 21  Comment 
There are many challenges to farming: It's often grueling work that relies on unpredictable factors such as weather and global market prices. But one aspect that's often ignored: health care costs.
MarketWatch  Feb 18  Comment 
The industry says the administration’s proposals appear to offer no replacement mechanism.
WA Business News  Feb 17  Comment 
Medibank Private has lifted half-year profit 1.9 per cent to $231.9 million as higher investment income offset lower returns from its core health insurance business.
Insurance Journal  Feb 16  Comment 
The U.S. Internal Revenue Service will no longer require tax filers to indicate whether they had health coverage or paid a penalty set under Obamacare, dealing a blow to a pillar of the healthcare law, the website Reason.com reported. Republican …
Clusterstock  Feb 15  Comment 
The Internal Revenue Service is making a small change to how they evaluate one line of a tax document this year. And it could have big implications for the Affordable Care Act (ACA), the law better known as Obamacare. Essentially, line 61 on...
Insurance Journal  Feb 15  Comment 
A top public safety official in western Michigan has resigned while he faces a health insurance fraud charge. Greenville City Manager George Bosanic says Mark Reiss resigned on Feb. 13 as director of public safety. WZZM-TV reports Reiss had served...
Forbes  Feb 15  Comment 
The S.B.A. removed guidance for navigating the Affordable Care Act from its website shortly after Donald Trump became president.
Wall Street Journal  Feb 15  Comment 
Many small businesses that once were worried about the cost of covering their workers now say they plan to keep offering health-insurance coverage even if the requirement that they do so is eliminated.




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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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