Health Insurance

RECENT NEWS
The Economic Times  Jun 4  Comment 
The total health insurance market in India stood at Rs 34,527 crore last fiscal — up 26% from Rs 27,457 crore in the previous year.
New York Times  Jun 3  Comment 
Even in the age of Trump, the United States is making progress toward universal health insurance and universal pre-K.
The Hindu Business Line  Jun 2  Comment 
Top-up or super top-up policies can be taken at a fraction of the cost of regular policies
Motley Fool  Jun 1  Comment 
Find out if you're one of the lucky ones.
Wall Street Journal  May 30  Comment 
WellCare’s planned acquisition of Meridian shows why small health insurers should bulk up.
Insurance Journal  May 30  Comment 
The number of people covered by small group health insurance in Minnesota grew by 15 percent last year, ending a string of annual enrollment declines stretching back to 2004. Price hikes and tight limits last year on doctor and hospital …
MedPage Today  May 29  Comment 
(MedPage Today) -- Also, where do health insurance premium dollars really go?
The Economic Times  May 28  Comment 
The mega health insurance scheme, which is looking to insure 40% of the population will cover all pre-existing diseases and will be portable across all states and union territories.
Motley Fool  May 26  Comment 
Is an Obamacare death spiral imminent?
Insurance Journal  May 24  Comment 
Uber plans to offer all its European drivers an upgraded version of the health insurance it already provides in France in a drive to attract independent workers and fend off criticism over their treatment. The San Francisco-based taxi app, which …




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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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