Health Insurance

RECENT NEWS
The Economic Times  4 hrs ago  Comment 
The first phase of the project, being started on pilot basis on August 15, involves only the public hospitals.
Clusterstock  Aug 8  Comment 
Employers like GM are starting to question the role health insurers play in the healthcare they provide for their employees.  GM is a self-insured employer, which means that it foots the bill for the healthcare its employees use. Starting in...
MarketWatch  Aug 8  Comment 
Mallinckrodt PLC has been downgraded from outperform to market perform by Raymond James, as "we see limited possibilities for further meaningful outperformance given longer-term risks to key portfolio products," analyst Elliot Wilbur said in the...
Motley Fool  Aug 8  Comment 
Having insurance coverage is a start, but a new survey shows how tenuous many of us feel our situations still are.
NPR  Aug 7  Comment 
Federal law keeps insurers from using genetic test results when pricing and issuing health insurance. But the tests might keep you from being able to get life insurance or a long-term-care policy.
New York Times  Aug 6  Comment 
Federal officials got a skeptical reaction from state insurance regulators on the value of the plans promoted by the president as a cheap alternative to the Affordable Care Act.
Insurance Journal  Aug 3  Comment 
Many Louisianans with health insurance through the Affordable Care Act’s individual exchange are set to see premiums drop. The Advocate of Baton Rouge reports premiums are expected to drop by an average of 6.9 percent next year. The Louisiana...
The Hindu Business Line  Aug 3  Comment 
Regulator wants to include diseases and procedures that are not being covered now




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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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