Health Insurance

RECENT NEWS
CNNMoney.com  3 hrs ago  Comment 
Health insurers made oodles of money in 2016, despite losing millions of dollars on Obamacare.
Clusterstock  10 hrs ago  Comment 
Oscar Health, the $2.7 billion health-insurance startup, is going to start offering health insurance plans alongside the Cleveland Clinic in Ohio for the first time.  Oscar was co-founded by Josh Kushner, whose brother Jared is one of...
Forbes  Jun 14  Comment 
Iowa is trying to save health care as insurance carriers exit the marketplace. And political leaders should look favorably at this common sense solution.
Forbes  Jun 14  Comment 
The American Medical Association says caps on spending for patients covered by Medicaid health insurance for the poor hurt patients and medical innovation.
NPR  Jun 13  Comment 
With the 2018 health insurance market still in play, you might want to extend your job-based insurance until this fall, when the outlines of the health law's marketplaces should become clearer.
Clusterstock  Jun 9  Comment 
Oscar Health, the $2.7 billion health-insurance startup, is joining the ranks of businesses trying to pull healthcare data into a single platform that might be accessible to doctors treating a patient.  Electronic health records allow doctors...
Motley Fool  Jun 9  Comment 
A recent survey shows that 25% of Americans skip seeking medical care because of high costs.
Motley Fool  Jun 9  Comment 
There are myriad reasons going to the drugstore hurts the wallet.
CNNMoney.com  Jun 8  Comment 
Read full story for latest details.




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Types of Coverage

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)

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

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