Health Insurance

RECENT NEWS
Insurance Journal  7 hrs ago  Comment 
Help will be available for consumers as PreferredOne, the largest provider of coverage for the first year of Minnesota’s health insurance exchange, pulls out of the state-run online marketplace, MNsure’s chief executive said. CEO Scott Leitz...
Insurance Journal  Sep 18  Comment 
The insurance company that grabbed the most customers on Minnesota’s health care exchange by offering the lowest rates told state officials that it’s pulling out of MNsure, a major blow to the exchange as the next open enrollment period...
Insurance Journal  Sep 18  Comment 
About 7.3 million people have paid for their Obamacare coverage and remain enrolled in health insurance plans sold through new government-run markets, a top U.S. official said today. That’s a 9 percent reduction from the government’s 8 million...
The Hindu Business Line  Sep 17  Comment 
Buoyed by a compounded annual growth rate of 36 per cent in gross premium collection over the last four-five years, standalone health insurer Star Health Insurance plans to expand its hor...
New York Times  Sep 17  Comment 
By charging different prices for generic drugs, health insurers may be violating the spirit of the Affordable Care Act.
Insurance Journal  Sep 17  Comment 
HealthCare.gov, President Barack Obama’s health insurance exchange, has security and privacy protection vulnerabilities, a U.S. government watchdog reported on Tuesday, nearly a year after the website’s troubled rollout. The General Accounting...
New York Times  Sep 17  Comment 
The Children’s Health Insurance Program, known as CHIP, has helped cut in half the uninsured rate for children, but its funding is set to end in September 2015.
The Hindu Business Line  Sep 16  Comment 
Will help check fraud and settle claims faster, say insurers
Forbes  Sep 16  Comment 
Very few industries in bed with Obamacare come off smelling like a rose.  But if one had to pick a bad actor above all others, it would probably be Big Health Insurance.
New York Times  Sep 16  Comment 
Federal researchers found that the number of uninsured declined substantially in the first quarter of this year.




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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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