Health Insurance

RECENT NEWS
Insurance Journal  Sep 16  Comment 
A new federal study shows the number of Oklahomans without health insurance has fallen by 6 percent since 2010, but the state still has one of the highest percentages of uninsured residents in the country. The study released this week …
Insurance Journal  Sep 16  Comment 
The majority of Minnesota residents aren’t experiencing the hefty health insurance rate hikes that shoppers who buy their coverage individually will see, according to data released by the federal government. More than half of Minnesota residents...
Insurance Journal  Sep 16  Comment 
New York’s Department of Financial Services has issued an emergency regulation intended to help the state’s health insurers deal with a federal requirement that puts some under sharp financial stress. The federally mandated program for...
Insurance Journal  Sep 16  Comment 
A growing number of U.S. workers are covered by health insurance that sticks them with a bigger share of the medical bill but also softens that blow by providing a special account to help with the expense. Companies are turning …
The Hindu Business Line  Sep 16  Comment 
Partnership will enable cab and auto drivers to avail cashless insurance through Paytm digital wallet
Insurance Journal  Sep 15  Comment 
Several Midwest states report significant drops in the number of residents without health insurance. New data shows nearly 200,000 Wisconsin residents gained some form of health insurance between 2013 and 2015. In Illinois, under the Affordable...
New York Times  Sep 15  Comment 
While the number of people without health insurance is at its lowest, thanks largely to Obamacare, continued declines are far from certain.
The Hindu Business Line  Sep 15  Comment 
Addendum is a fortnightly column that takes a sometimes hard, sometimes casual, sometimes irreverent yet never malicious look at some of the new or recent advertisements and comments on them. Healt...
Insurance Journal  Sep 15  Comment 
Fort Worth-based insurance and financial services firm Higginbotham has hired employee benefit plan broker Robbi McAuliffe Burgess as an associate in Corpus Christi. Burgess joins the firm’s 12 local employee health and welfare plan...
newratings.com  Sep 14  Comment 
WASHINGTON (dpa-AFX) - The average family premiums for employer-sponsored health insurance rose at a mediocre 3 percent aided by rise in the deductibles. Annual family premiums for employer-sponsored health insurance rose an average of 3 percent...




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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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