Health Insurance

RECENT NEWS
Forbes  11 hrs ago  Comment 
Can canna-businesses find coverage for their operations? How will legal marijuana usage affect employee health insurance rates? Insurance companies are entering the canna-business coverage market.
New York Times  Jul 3  Comment 
The companies say new customers under the Affordable Care Act have been sicker than expected, while federal officials say they want the requests scaled back.
Financial Times  Jul 3  Comment 
Opportunities for buyers are flatlining as prices peak
MarketWatch  Jul 3  Comment 
Aetna is nearing a deal to buy Humana, in a tie-up of health insurers that could be announced this week, The Wall Street Journal reports.
MarketWatch  Jul 2  Comment 
The two health insurers have clashed over who would run the combined company, as well as other issues.
Forbes  Jul 1  Comment 
The Supreme Court’s June 25 decision in King v. Burwell preserves federal health care subsidies under the Affordable Care Act (ACA) for Americans who reside in states that have opted not to create their own health insurance exchanges. In so...
Forbes  Jun 30  Comment 
Live-ins? (gay and straight) health insurance choices are in flux after SCOTUS same-sex ruling.
Forbes  Jun 30  Comment 
Small businesses that reimburse employees for the cost of premiums for individual health insurance policies or pay their health costs directly will be fined up to $36,500 a year per employee under a new Internal Revenue Service regulation that...
TechCrunch  Jun 30  Comment 
 SimplyInsured, which helps small businesses compare and purchase employee health insurance plans, has closed a Series A of $5.9 million led by Polaris Partners, with participation from Bessemer Venture Partners, Altair.VC, Corazon Capital, and...




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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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