Health Insurance

RECENT NEWS
The Hindu Business Line  11 hrs ago  Comment 
Your age, the cost of healthcare in your city and inflation will be the determining factors
BBC News  Jul 24  Comment 
The number of large health insurers in the US could fall from five to three as companies seek to merge in a bid to slash costs.
New York Times  Jul 24  Comment 
Anthem and Cigna are the latest health insurers to forge a deal, but they and their peers need to satisfy many regulators before pairing up.
NPR  Jul 24  Comment 
One reason health insurers are looking to get bigger is that the hospitals and doctor groups across the negotiating table have also gotten bigger.
Forbes  Jul 24  Comment 
In trading on Friday, life & health insurance shares were relative leaders, up on the day by about 2%. Leading the group were shares of Stancorp Financial Group (SFG), up about 48.1% and shares of Symetra Financial (SYA) up about 4.5% on the day.
Clusterstock  Jul 24  Comment 
Health insurers are going deal crazy, and it is at least in part because of Obamacare. That's great news for investment banks that could reap as much as $345 million in fees as a result. Industry giant Anthem this morning announced a $54.2...
Forbes  Jul 24  Comment 
Today's announcement that health insurer Anthem plans to spend $54 billion to buy its rival, Cigna, to create the largest health insurance country in America is a good time to talk about a hard reality: the U.S. health insurance industry hasn't...
Yahoo  Jul 22  Comment 
Anthem is reportedly close to a deal to buy Cigna for about $48 billion in a move that would reshape the U.S. health insurance landscape.




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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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